Revenue during the quarter dropped 6.39 percent to $174.20 million from $186.10 million in the previous year period. Gross margin for the quarter contracted 386 basis points over the previous year period to 11.02 percent. Total expenses were 97.76 percent of quarterly revenues, up from 89.95 percent for the same period last year. That has resulted in a contraction of 781 basis points in operating margin to 2.24 percent.

Operating income for the quarter was $3.90 million, compared with $18.70 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $19.10 million compared with $28.10 million in the prior year period. At the same time, adjusted EBITDA margin contracted 414 basis points in the quarter to 10.96 percent from 15.10 percent in the last year period.

"As anticipated, our first quarter results reflect lower unit volume due to the timing of program changes as well as higher production costs compared to the first quarter of 2016,” commented Don Stebbins, president and chief executive officer. “During the first quarter, we also announced our intent to acquire 100% of UNIWHEELS AG. This accretive transaction will position Superior as one of the worlds largest automotive OEM aluminum wheel suppliers, while diversifying our customer base and extending our geographic reach. With the enhanced global manufacturing capacity of the combined businesses, we believe this transaction will strengthen our ability to serve our customers and provides a stronger platform for growth."

Superior Industries International, Inc. expects revenue to be in the range of $730 million to $750 million for financial year 2017.

Days sales outstanding went down to 30 days for the quarter compared with 56 days for the same period last year.