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.
RTI International Metals Reports Strong Third Quarter Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts