“For 2013, we expect to see modest growth in both our consolidated sales and operating income. Sales are currently anticipated to approach $775 million with operating income to be within a range of $65 to $75 million. Titanium mill product volumes are expected to be slightly lower than the 16.5 million pounds shipped in 2012. On the other hand, based on the latest information from Boeing, seat track component shipments for the 787 Dreamliner are expected to exceed 75 ship sets. Our capital expenditures are expected to be in the range of $50 to $60 million.
“Despite this guidance, I would caution investors that we expect the first half of the year to exhibit some softness with good momentum developing during the last six months, driven by an accelerated production schedule for 787 components and sequential increases in mill product demand. This early softness could result in first quarter operating income of less than $10 million.” Ms. Hickton concluded.
Conference Call Information
To participate in today's 10:00 a.m. Eastern Time conference call, please dial (USA/Canada) 888-895-5479 or (International) 847-619-6250 several minutes prior to the start time and specify the RTI International Metals' Conference Call.
Replay of the call will be available one hour after the conference ends and remains accessible until Wednesday, February 20, 2013. To listen to the replay, dial (USA/Canada) 888-843-7419 or (International) 630-652-3042 and enter pass code 3406 9732#.
Forward Looking Statement
All statements in this release relating to matters that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those projected, anticipated or implied. These risks and uncertainties include, but are not limited to, the impact of global events on the commercial aerospace industry, the impact from Boeing 787 production delays, military spending generally and demand from the Joint Strike Fighter program, actual build-rates, production schedules and titanium content per aircraft for commercial and military aerospace programs, the competitive nature of the markets for specialty metals, the ability of RTI to obtain adequate raw materials, the successful integration of our recent acquisitions, global economic conditions, the successful completion of RTI’s capital expansion projects, and other risks and uncertainties described and included in RTI’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2011 and the Quarterly Reports on Form 10-Q for the quarters ended March 31, 2012, June 30, 2012 and September 30, 2012, and the exhibits attached to those filings. Actual results can differ materially from those forecasted or expected. The information contained in this release is qualified by and should be read in conjunction with the statements and notes filed with the Securities and Exchange Commission on Forms 10-K and 10-Q, as may be amended from time to time. The forward-looking statements in this document are intended to be subject to the safe harbor protection provided by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. RTI undertakes no obligation to update or revise any forward-looking statements.