This Day On The Street
Continue to site
ADVERTISEMENT
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

RTI 2013 Third Quarter Results Show Continued Year-over-Year Growth In Both Sales And Operating Income

RTI International Metals, Inc. (NYSE: RTI), today reported 2013 third quarter financial results showing year-over-year growth in sales and operating income, and reaffirmed its 2013 full year guidance for mill product shipments, revenues and operating income. The Company said continued steady growth in its commercial aerospace business and lower material and production costs in its Titanium Segment were key drivers of its third quarter performance.

2013 Third Quarter Financial Highlights

  • 2013 third quarter net sales increased $14 million, or 8%, to $196.5 million, compared to 2012 third quarter net sales of $182.5 million.
  • 2013 third quarter operating income increased $12.3 million to $21.6 million, compared to 2012 third quarter operating income of $9.3 million.
  • Quarterly net income attributable to continuing operations increased to $12.3 million, or $0.37 per diluted share, including the impact of a favorable income tax benefit of $2.6 million, or $0.06 per diluted share.
  • 2013 third quarter titanium mill product shipments were 4.0 million pounds at an average realized price of $18.57 per pound, compared to 4.2 million pounds at an average realized price of $19.01 per pound for the same period last year.
  • 2013 third quarter Boeing 787 seat track deliveries totaled 22 equivalent ship sets, ending the quarter at a 9 equivalent ship-sets-per-month delivery rate.

2013 Third Quarter and First Nine Months Financial Summary

For the third quarter of 2013, RTI reported net income attributable to continuing operations of $12.3 million, or $0.37 per diluted share (1), on net sales of $196.5 million and operating income of $21.6 million. During the third quarter of 2012, RTI reported net income attributable to continuing operations of $3.2 million, or $0.11 per diluted share, on net sales of $182.5 million and operating income of $9.3 million.

For the nine months ended September 30, 2013, RTI reported net sales of $588.5 million, compared to net sales of $521.1 million reported for the same period a year ago. Operating income for the first nine months of 2013 was $55.3 million and net income attributable to continuing operations was $20.0 million, or $0.65 per diluted share, compared with operating income of $30.1 million and net income attributable to continuing operations of $11.4 million, or $0.37 per diluted share, reported for the first nine months of 2012.

1 of 6

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
Only $9.95
14-Days Free
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
SYM TRADE IT LAST %CHG

Markets

DOW 18,133.36 +91.82 0.51%
S&P 500 2,117.26 +13.06 0.62%
NASDAQ 5,070.3770 +37.6260 0.75%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs