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.