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RTI International Metals Reports Strong Third Quarter Results

Titanium Group For the third quarter of 2012, the Titanium Group posted operating income of $2.0 million on sales of $85.8 million, including intersegment sales of $43.0 million. During the same period in 2011, this Group had operating income of $4.9 million on sales of $87.7 million, including intersegment sales of $42.7 million. The year-over-year decrease in the Group’s operating income was primarily the result of a $2.4 million impact due to an electrical transformer fire and the subsequent temporary cessation of operations at the Group’s RTI Alloys plant in Canton, Ohio. Additionally, the Group incurred higher raw material costs in the recent period versus the same period in 2011.

During the first nine months of 2012, the Titanium Group posted operating income of $15.9 million on sales of $261.4 million, including intersegment sales of $141.3 million. During the first nine months of 2011, operating income was $22.9 million on sales of $231.7 million, including intersegment sales of $114.7 million. In addition to the impact from the fire at the Canton plant and higher raw material costs in 2012 versus 2011, the nine month period was also impacted by costs associated with the commencement of operations at the Group’s Martinsville, Virginia, facility.

Mill product shipments for the third quarter were 4.2 million pounds at an average realized price of $19.01 per pound, compared to mill product shipments of 4.3 million pounds in the third quarter of 2011 at an average realized price of $18.99 per pound.

Mill product shipments for the first nine months of 2012 were 12.8 million pounds at an average realized price of $19.14 per pound compared to mill product shipments of 10.7 million pounds in 2011 at an average realized price of $19.69 per pound.

Fabrication Group For the third quarter of 2012, the Fabrication Group had operating income of $6.1 million on net sales of $87.9 million. For the same period in 2011, this Group had an operating loss of $1.5 million on net sales of $40.2 million. The improvement in the Group’s results reflects not only the impact of the acquisitions of RTI Remmele and RTI Advanced Forming, but also a strong contribution from RTI’s energy market projects.

For the first nine months of 2012, the Fabrication Group reported net sales of $234.0 million and operating income of $8.4 million, compared with net sales of $110.5 million and an operating loss of $8.0 million for the same period in 2011.

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