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RTI International Metals Reports Strong Third Quarter Results

RTI International Metals, Inc., (NYSE: RTI), reported today strong third quarter 2012 financial results showing substantial year-over-year increases in net sales, operating income and earnings per share compared with the same period in 2011.

The company said its financial performance reflects continued strength in the aerospace, medical device and energy markets, as well as continued improving performance in its Fabrication Group.

Highlights of RTI’s results for the third quarter of 2012, ended September 30, follow:

Financial Summary Q3 2012 vs. Q3 2011 comparisons:

  • Q3 2012 net sales were $189.1 million, an increase of 32% over net sales of $143.7 million in Q3 2011.
  • Q3 2012 operating income was $12.9 million vs. $7.7 million in Q3 2011, an increase of 68%.
  • Net income for Q3 2012 more than doubled over the same period in 2011, to $5.6 million, or $0.19 per diluted share. Net income for Q3 2011 was $2.1 million, or $0.07 per diluted share.
  • Titanium mill product shipments during the quarter were 4.2 million pounds compared to 4.3 million pounds in 2011.
  • Average realized mill product price in Q3 was $19.01 per pound compared to $18.99 per pound during the same period in 2011.

Third Quarter and Nine Month Highlights During the third quarter of 2012, RTI reported net income of $5.6 million, or $0.19 per diluted share, on net sales of $189.1 million and operating income of $12.9 million. During the third quarter of 2011, RTI reported net income of $2.1 million, or $0.07 per diluted share, on net sales of $143.7 million and operating income of $7.7 million. Included in the results for the third quarter of 2012 was a $2.4 million impact associated with an electrical transformer fire at the Titanium Group’s Canton, Ohio, facility.

For the nine months ended September 30, 2012, RTI reported net sales of $542.2 million, compared with net sales of $387.7 million for the same period a year ago. Operating income for the first nine months of 2012 was $37.8 million with net income of $16.4 million, or $0.54 per diluted share, compared with operating income of $23.2 million and net income of $6.5 million, or $0.22 per diluted share, for the same period a year ago.

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