This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

RTI International Metals Reports Strong Third Quarter Results

Distribution Group For the third quarter of 2012, the Distribution Group posted operating income of $4.8 million on net sales of $58.3 million. For the same period in 2011, the Group had operating income of $4.3 million on net sales of $58.4 million. Although the Group experienced lower demand for non-titanium products as customers defer orders due to uncertainty surrounding the possible market impact of sequestration, this decline was more than offset by increased sales of titanium products.

Year-to-date, the Distribution Group reported net sales of $188.2 million resulting in operating income of $13.4 million, compared with net sales of $160.3 million and operating income of $8.4 million for the same period in the prior year.

CEO Comment “The results for the quarter were right in line with our expectations, therefore, we are continuing our 2012 guidance, including sales in excess of $700 million, volume of 16 million pounds or more of titanium mill product shipped and operating income at the higher end of our range of $45–50 million,” said Dawne Hickton, Vice Chair, President and CEO of RTI.

“We are particularly encouraged with the performance of our Fabrication Group, where we are seeing the benefits of our strategy to move further downstream by expanding the breadth and scale of advanced titanium engineering, precision machining and fabrication capabilities. In addition, our end market diversification efforts have also paid off as we recognized growth during the quarter across the commercial aerospace, medical device and energy markets.

“The addition of our forging and hot grinding facility in Martinsville, Virginia, which came online for commercial operations earlier this month, gives us additional capacity to meet the anticipated ramp in commercial aerospace and continue RTI’s growth. We also recently completed our annual titanium sponge price negotiation and believe that our raw material prices for 2013 will be largely flat in comparison with 2012.”

3 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs