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RTI Metals reports strong first quarter performance
NILES -- RTI International Metals Inc.'s net income for the first quarter of this year was three times as high as it was in the first quarter of 2004.
The company released results Tuesday for the first quarter of 2005, reporting a net income of $8.4 million, or $0.38 per share, on sales of $73.5 million. Results for the first quarter of 2004 were a net income of $2.8 million, or $0.13 per share, on sales of $50.5 million.
"RTI's strong first-quarter performance was the result of the expanding demand from our commercial aerospace markets that began in the second half of 2004," said Timothy G. Rupert, president and CEO.
The company's Titanium Group posted a first-quarter operating profit of $9.5 million on sales of $66.4 million, including intercompany sales of $41.4 million. During the first quarter of 2004, the group had an operating loss of $4.2 million on sales of $37.7 million, including $24.6 million of intercompany sales.