Superior Industries International Inc (SUP) 10-K Annual Report Tue Mar 12 2013



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				Kerry Shiba
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	NEWS RELEASE
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Superior Industries Reports 2012 Financial Results;

Company Announces Plan to Build New Manufacturing Facility

VAN NUYS, CALIFORNIA -- March 1, 2013 -- Superior Industries International, Inc. (NYSE:SUP) today announced financial results for the fiscal year and fourth quarter ended December 30, 2012, along with plans to build a new manufacturing facility in Mexico to expand capacity and meet anticipated growth in product demand.

Net income for the full 2012 year amounted to $30.9 million, or $1.13 per diluted share, compared with $67.2 million, or $2.46 per diluted share, in 2011. The net income decline largely reflected a swing to income tax expense of $3.6 million in 2012 from a $25.2 million income tax benefit in 2011.

Net sales for 2012 declined slightly to $821.5 million from $822.2 million in 2011. A 7 percent increase in unit sales volume for 2012 was offset by a reduction in average selling price, primarily due to a decline in aluminum prices. Unit shipments rose to 12.5 million in 2012 from 11.7 million units shipped in the prior year.

Gross profit for 2012 declined to $60.6 million, or 7 percent of net sales, from $67.1 million, or 8 percent of net sales, in 2011. The 2012 gross profit included a $3.5 million non-cash benefit from resolution of a foreign consumption tax issue. The company said the decline in gross profit and margin percentage reflected the impact of higher levels of manufacturing costs, principally labor and maintenance. The increase in manufacturing cost resulted from higher sales volume, as well as equipment reliability and other challenges that reduced operating efficiencies, especially in the older U.S. facilities. The company continued to operate its factories at high utilization rates throughout the year.

“The opportunities and challenges in our business have clarified the next steps to improve our operating returns,” said Steven J. Borick, Chairman, Chief Executive Officer and President. “Superior remains the premier aluminum wheel manufacturer in a healthy and growing North American automotive market. While our operations in Mexico consistently have performed at class-leading levels, it has been evident we are not currently positioned to participate fully in North American market growth. Accordingly, after a thorough evaluation of ways to deploy our capital, we have decided to expand our manufacturing footprint by constructing a new manufacturing facility in Mexico, where significant light vehicle assembly expansion has been announced or already is underway.”

The following information was filed by Superior Industries International Inc (SUP) on Friday, March 1, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Superior Industries International Inc provided additional information to their SEC Filing as exhibits

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Ticker: SUP
CIK: 95552
Form Type: 10-K Annual Report
Accession Number: 0000095552-13-000009
Submitted to the SEC: Tue Mar 12 2013 4:38:25 PM EST
Accepted by the SEC: Tue Mar 12 2013
Period: Sunday, December 30, 2012
Industry: Motor Vehicle Parts And Accessories

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Superior Industries International Inc (SUP) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 30, 2012

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