Superior Industries Has Record Sales, Earnings in 4th Quarter
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Superior Industries, a Van Nuys-based maker of wheel rims for cars, reported record sales and earnings for its fourth quarter and year ended Dec. 31.
Net income for the quarter was $1.7 million, or 32 cents per share, up 7% from the same period a year ago. Superior posted sales of $31.4 million, up 6% from the last quarter in 1984.
For 1985, net income was up 64% over the previous year to $7.2 million, or $1.46 per share. Sales were up 17% to $130.8 million.
Superior attributed its improved performance to new manufacturing contracts and increased efficiency and capacity. As a result of increased business, the company said, it hopes to open a facility this year in the Midwest or in the South to be closer to auto makers’ plants.
In addition to the Van Nuys plant, Superior operates a facility in Newmarket, Canada.
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