Superior Industries International Inc. today said that its second quarter earnings would be lower than earlier expected as a result of the continued decline in customer orders. Van Nuys-based Superior expects that net earnings for the second quarter ended June 30 will be in the range of $0.15 to $0.17 per share. That compares with earnings of $13.6 million or $0.51 per share for the second quarter of 2004. As a result of the continued decline in orders, Superior, which produces automotive wheels and other components, said that plant utilization, work schedules and gross margin for the company would be reduced more than was previously anticipated. “We continue to win substantial new and replacement wheel programs. We also are pushing ahead with our cost reduction and automation initiatives, which will serve us in good stead in the future,” said Steven Borick, president and CEO of Superior.
