RTI International Metals, Inc. (NYSE: RTI) reported today second quarter 2012 financial results showing strong growth in revenue, earnings and order backlog compared with the same period in 2011. The company said its financial performance reflects continuing growth in end markets that include commercial aerospace and energy.
Highlights of RTI’s results for the second quarter of 2012, ended June 30, follow:
Q2 2012 vs. Q2 2011 comparisons:
- Q2 2012 net sales were $190.3 million, an increase of 54% over net sales of $123.2 million in Q2 2011.
- Q2 2012 operating income was $11.9 million vs. $6.1 million in Q2 2011, an increase of 96%.
- Net income for Q2 2012 rose 143% over the same period in 2011, to $5.2 million or $0.17 per diluted share. Net income for Q2 2011 was $2.1 million, or $0.07 per diluted share.
- Titanium mill product shipments during the quarter were 4.3 million pounds compared to 3.3 million pounds in 2011, an increase of 30%.
- Average realized mill product price in Q2 was $19.00 per pound compared to $20.30 per pound during the same period in 2011.
- The backlog at the end of the quarter increased to $586.0 million from $424.0 million in the same period last year.
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