RTI’s fabrication group helps boost profits
Oct 31, 2012 | 03:11 PM
| Frank Haflich
Tags
RTI International Metals,
titanium,
earnings,
fabrication group,
Dawne Hickton,
Frank Haflich
LOS ANGELES — Led by the impact of recent acquisitions that offset a $2.4-million hit from a transformer fire, RTI International Metals Inc.’s earnings more than doubled in the third quarter despite flat titanium shipments and prices.
The Pittsburgh-based producer, fabricator and distributor posted net income of nearly $5.63 million for the three months ended Sept. 30 vs. $2.07 million in the same period last year on sales that jumped 31.6 percent to $189.08 million from $143.67 million. For the first nine months of the year, net income soared to $16.41 million from $6.54 million a....
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