RTI revises 1st-qtr. forecast upward

Apr 11, 2013 | 06:02 PM | Frank Haflich

Tags  RTI, titanium, duty drawbacks, Dawne Hickton, Customs, imports, exports, sponge Frank Haflich

LOS ANGELES — RTI International Metals Inc. anticipates higher-than-forecast first-quarter operating results now that a logjam in duty-drawback payments has been broken.

The Pittsburgh-based titanium producer, fabricator and distributor said April 11 it anticipates first-quarter operating earnings in a range of $14 million to $16 million. Earlier this year, RTI said that, despite its expectations for a strong 2013, some "early softness" could result in operating earnings of less than $10 million.

RTI will recover approximately $4 million in import duties under the company’s duty-drawback program, which previously were expected to be recovered later in 2013. ....

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