Superior Sees Income Rise 4%, but Sales Dip
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Superior Industries International posted a 4% rise in net income in its fourth quarter, despite a 5% decline in sales.
The Van Nuys-based maker of car wheels had net income of $12.9 million in the quarter that ended Dec. 31, compared to net income of $12.4 million a year earlier.
Sales in the latest quarter were $124.8 million, down from $131.7 million in the same period a year earlier.
The company said part of its results reflected the impact of a General Motors strike during the quarter.
For the full year, Superior Industries had net income of $46.9 million, down 12% from its profit of $53.1 million in 1995. Sales last year fell 3% to $504.2 million, down from $522 million.
The company is the biggest maker of aluminum car wheels and counts GM, Ford, Chrysler, BMW and Toyota among its customers.
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