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RTI expects modest growth in 2012

February 09, 2012 - 23:21 GMT Location: Los Angeles

KEYWORDS: RTI International , titanium , Dawne Hickton

RTI International Metals Inc. squeaked out a profit in the last three months of 2011 as titanium shipments rose 29 percent from the third quarter, but shipments are expected to increase at a slower pace this year.

RTI’s results, which reflected in part the impact of higher sponge costs and lower-than-anticipated shipments of fabricated work for Boeing Co.’s 787 Dreamliner, were generally below securities analysts’ estimates for the fourth quarter, and its common stock was trading at $23.12 per share Thursday afternoon on the New York Stock Exchange, down 15.2 percent from Monday’s close at $27.29, before the results were announced.

Pittsburgh-based RTI’s titanium mill product shipments totaled 4 million pounds in the fourth quarter...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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