1 / 12

Superior Industries International, Inc.

Superior Industries International, Inc. 2 nd Quarter 2010 Earnings Conference Call August 13, 2010. Forward Looking Statements.

magee
Télécharger la présentation

Superior Industries International, Inc.

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Superior Industries International, Inc. 2nd Quarter 2010 Earnings Conference Call August 13, 2010 Page

  2. Forward Looking Statements Any forward-looking statements made in this web cast are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially because of issues and uncertainties that need to be considered in evaluating our financial outlook. We assume no obligation to update publicly any forward-looking statements. Issues and uncertainties that are of particular significance at this time relate to global competitive pricing, customer financial stability, customer schedule volatility, potential declines in the production of cars and light trucks, and the successful completion of our strategic and operating plans. Please refer to the company’s SEC filings, including our Annual Report on Form 10-K, for a complete write-up on forward-looking statements and risk factors.

  3. Unit Shipments up 114% to 2.9M from 1.4M in Q209 Revenue up 141%, or $113.7M, to $194.6M from $80.9 Unit increase equated to $89.3M, or 79% of revenue increase Majority of the remaining revenue increase was due to increased aluminum pass-through Gross profit of $27.9M, or 14.3% of Revenue, compared to a loss of $12.1M, or 14.9% in 2009 Income from operations of $20.6M, or 10.6% of revenues, compared to a loss from operations of $20.8M, or 25.7% of revenues Sold investment in Hungarian joint venture, recording a loss on sale of $4.1M Net income of $10.1M, or $0.38 per diluted share, compared to a loss of $21.0M, or $0.79 per share in the same period a year ago Significant Highlights in Q2 2010

  4. No impairment charges in Q210 Q209 included impairment charges totaling $2.9M related to assets held for sale Gas Contracts Marked to Market were net favorable $1.1M in Q210 and $0.5M in Q209 Costs related to plant closures totaled $1.0M in Q210 compared to $6.5M in Q209 Ongoing costs related to closed plants are expected to be minimal in future periods Details of the above costs in both periods are included later in this presentation Non-Operating Items in Q2 2010

  5. Accounts receivable increased $46.7M from December 2009 and $81.7M from June a year ago Inventories increased $6.3M from December 2009 and $7.5M from June a year ago Cash and short-term investments increased by $2.9M from December 2009, but decreased $25.9M from June 2009 Working capital and current ratio remain strong at $274.7M and 4.6:1 at June 2010 Investment in joint venture decreased $23.6M from December 2009 and $44.4M from June 2009, due to the sale of our investment in Hungary Balance Sheet Comments

  6. Shipments vs North American Production

  7. 2nd Quarter Statement of Operations Unaudited

  8. June YTD Statement of Operations Unaudited

  9. Non-Operating Items – 2nd Quarter and YTD 2010 Unaudited Costs associated with plant closures

  10. Summary Balance Sheets Unaudited

  11. Summary Cash Flow Statements Unaudited

  12. Volumes increased 23% over those in Q1 2010, reflecting the improvements being reported throughout the automotive sector Customer requirements in the month of July, which had virtually no OEM plant shutdowns, remained at similar levels The steps taken to right-size the organization while reducing and managing costs contributed greatly to the improved margins this quarter Cash and balance sheet management continue to be a high priority Conclusion

More Related