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Superior Industries International Business Report FY2007 (FY ended Dec. 2007)
Business Highlights
Financial Overview
| (in million USD) | FY2007 | FY2006 | Rate of change | Factors |
|
Net Sales |
956.9 | 789.9 | 21.1% | See note 1) below |
|
Gross Profit |
32.5 | 8.7 | 373.5% | See note 2) below |
Factors
1) Consolidated net sales increased 167.0 million USD or 21.1% in
2007 from 789.9 million USD in 2006. Wheel program development revenues
decreased to 12.4 million USD, while aluminum wheel sales increased
174.4 million USD to 945.5 million USD, a 23% increase in unit shipments.
The average selling price of its wheels increased approximately
12%, due principally to the continued shift in sales mix to larger,
higher-priced wheels.
- Unit shipments to Ford and GM totaled 68% of total OEM unit shipments
in 2007 compared to 69% a year ago. Unit shipments to Chrysler decreased
to 13% from 16%, while shipments to its international customers
totaled 19% compared to 15% in 2006.
2) During 2007, consolidated gross profit increased to 32.5 million
USD, or 3.4% of net sales, which included 10.1 million USD of preproduction
start-up costs of its new wheel plant in Mexico. Due to a higher
level of new wheel programs and additional take-over business, gross
profit included an additional $4.5 million of wheel program development
costs compared to a year ago. These additional costs were more than
offset by the 10 percent increase in unit shipments and the increased
plant productivity. Operational performance improved in its plants
in 2007, and the newest wheel plant in Chihuahua, Mexico steadily
increased production of larger diameter aluminum wheels.
R&D
R&D Expenditure
| (in million USD) | FY2007 | FY2006 | FY2005 | FY2004 |
|
Total |
6.3 | 6.8 | 9.6 | 12.9 |
R&D Structure
-Two fully staffed engineering centers, located in Van Nuys, California, and Fayetteville, Arkansas, support its research and development manufacturing needs. The Company also has a technical center in Detroit, Michigan, that maintains a team of engineering staff located near the largest customers' headquarters, engineering, and purchasing offices.
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