FOR IMMEDIATE RELEASE April 22, 1999

CONTACT:
Crystal L. Revak, Director
Investor Relations
(330) 544-7622

 

RTI INTERNATIONAL ANNOUNCES FIRST QUARTER RESULTS

Niles, Ohio – RTI International Metals, Inc.(NYSE; RTI) released results today for the first quarter 1999.

The Company reported a first quarter net income of $3.7 million, $0.18 per common share, on sales of $67.5 million. The results for the comparable 1998 period were a net income of $15.1 million, $0.73 per common share, on sales of $89.0 million.

RMI Titanium Company ("RMI"), a wholly owned subsidiary of RTI, had first quarter 1999 mill product shipments of 2.2 million pounds at an average price of $17.63 per pound. Shipments were reduced by a strike at RMI that ended April 12, 1999. However, realized prices on mill products increased due to emphasis on higher value-added flat products.

In comparing the results with the prior year’s quarter, Robert M. Hernandez, Chairman, noted that "first quarter results were influenced by three major factors: a softening commercial aerospace market, the strike at RMI’s Niles plant, and the absence of the tax benefits that we have enjoyed in recent years. While the tax situation and the market conditions are likely to remain with us for the balance of the year, the end of the strike should improve our results significantly."

RTI International Metals, Inc., headquartered in Niles, Ohio, through its various subsidiaries, manufactures and distributes titanium and specialty metal mill products, and extruded shapes, as well as engineered systems for energy-related markets. The Company’s products are used for aerospace, industrial and consumer applications.


Copyright © RMI Titanium 1999. All Rights Reserved.

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