November 2, 2010 / 11:43 AM / in 8 years

UPDATE 1-RTI International Q3 loss widens on income tax charge

* Q3 shr loss $0.56 vs loss of $0.35/shr last year

* Q3 sales up marginally, but miss estimates

* Says demand rising, but prices to remain low through Q4

Nov 2 (Reuters) - Titanium products maker RTI International Metals RTI.N reported a wider third-quarter loss, hurt by an income tax charge, and said average selling prices would remain under pressure in the near term even as demand was beginning to pick up.

RTI, whose customers include aerospace majors Airbus, Boeing Co (BA.N) and Bombardier (BBDb.TO), is among a handful of companies that are seeing resurgent demand as emerging markets help pull planemakers out of a dizzying two-year downturn. [ID:nSGE67J0G7]

For the third quarter, the company reported a loss of $16.8 million, or 56 cents a share, compared with a loss of $8.7 million, or 35 cents a share, last year.

Excluding income taxes, the loss was $2.9 million.

Revenue rose slightly to $102.6 million.

Analysts on average were looking for a loss of 2 cents a share, before items, on revenue of $104.3 million, according to Thomson Reuters I/B/E/S.

Shares of the Pittsburgh, Pennsylvania-based company, valued at $935.5 million, closed at $31.39 Monday on the New York Stock Exchange.

The stock has been largely flat since it reported second-quarter results in August, but has almost doubled over the past year. (Reporting by Adveith Nair in Bangalore; Editing by Aradhana Aravindan)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below