RMI parent company sets sales records

WEATHERSFIELD — The parent company of RMI Titanium Co. set a record for sales and posted higher earnings last year.

RTI International Metals said today that sales for 2007 were $626.8 million, compared with $505.4 million in the previous year. Earnings for last year were $92.6 million, or $4 a share, compared with $75.7 million, or $3.29 a share, in 2006.

In the fourth quarter of 2007, RTI posted sales of $163.8 million, compared with $143.8 million in the same quarter in 2006. Earnings in the fourth quarter were down slightly. The company earned $24.9 million, or $1.08 a share, last quarter, compared with $26.8 million, or $1.16 a share, in the fourth quarter of 2006.

RTI posted strong results last year because of a boom in demand for titanium from military and commercial aircraft makers.

For more on this story, see Wednesday’s Vindicator or www.vindy.com.