US-based titanium producer RTI International Metals reported net income for 2008 of USD 56.2 million, down from USD 92.6 million in 2007 as the titanium market was affected by both Boeing 787 production delays and the significant deterioration in the global economy. Based on current visibility, including contractual business, RTI expects mill product shipments to be within the range of 10 million to 12 million lb and earnings to be positive in 2009. The company’s titanium group posted net sales in 2008 of USD 202 million versus USD 253.1 million in 2007, and operating income of USD 62.6 million compared with USD 102.6 million in 2007. For the fourth quarter of 2008, the titanium group posted operating income of USD 3.9 million on net sales of USD 45.2 million, compared with operating income of USD 33.7 million on net sales of USD 68.7 million on Q4 2007.
