RTI reports net income of $2.1M for 2nd quarter

Staff report

PITTSBURGH

RTI International Metals, Inc. announced its second- quarter earnings Tuesday and reported a net income of $2.1 million, lower than in 2010’s second quarter, when it posted a net income of $10.2 million.

Total sales rose from $106.7 million to $123.2 million.

Dawne Hickton, president and CEO of RTI, expects the company to exceed $500 million in consolidated sales by year’s end and said increased ordering activity from Airbus should improve the company’s bottom line. Those agreements should take effect beginning in 2012.

RTI also announced an agreement with Tronox LLC over a disputed supply contract. RTI will pay Tronox $9.9 million.

Through subsidiaries, RTI manufactures and distributes titanium and specialty metal mill products, extruded shapes and engineered systems.