February 1, 2011 / 12:37 PM / 7 years ago

UPDATE 1-RTI International Q4 loss narrows, sees 2011 sales up

* Q4 loss $0.05/shr vs est loss $0.09/shr

* Net sales up 18 pct at $114.7 mln vs est $101.1 mln

* Sees modest increase in 2011 net revenue

Feb 1 (Reuters) - RTI International Metals RTI.N posted a narrower-than-expected quarterly loss on strong demand from aerospace customers, and the titanium products company forecast a modest increase in 2011 net revenue.

Pittsburgh-based RTI, which has customers like Airbus, Boeing (BA.N) and Bombardier (BBDb.TO), said titanium mill product inventories for the aerostructure market will remain high until production of the Boeing 787 Dreamliner is ramped up.

RTI’s fourth-quarter net loss narrowed to $1.4 million, or 5 cents a share, from a net loss of $57.3 million, or $1.91 a share, in the year-ago quarter.

October-December net sales rose 18 percent to $114.7 million. Full-year net sales rose 6 percent to $431.8 million. [ID:nASA01H02]

Analysts on an average were expecting the company to lose 9 cents in the fourth quarter, on revenue of $101.1 million, according to Thomson Reuters I/B/E/S.

RTI’s shares closed at $28.89 on Monday on the New York Stock Exchange. (Reporting by Krishna N Das in Bangalore; Editing by Anne Pallivathuckal)

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