(RTTNews) -  Tuesday, RTI International Metals Inc. (RTI: News ) reported loss for the third-quarter compared to a profit in the previous year, negatively affected by lower trade shipments and average realized selling prices for titanium mill products, lower production utilization in the Fabrication Group, continued weakness in commercial aerospace demand, and charges related to the repayment of outstanding debt.

Including charges of $5.7 million associated with the company's debt repayment plus a tax expense of $3.9 million, the company reported net loss of $8.7 million or $0.35 per share in the current quarter in comparison to net income of $11.3 million or $0.49 per share for the same period in the prior year.

On average, seven analysts polled by Thomson Reuters expected the company to report a loss of $0.03 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter was $100.2 million, down from $150.6 million in the comparable quarter last year. Analysts expected the company to report revenue of $99.73 million for the quarter.

For the nine-month period, the company reported net loss of $10.0 million or $0.42 per share, compared with net income of $52.1 million or $2.26 per share for the same period a year ago.
For the nine months, net sales were $310.7 million versus $461.1 million for the same period last year.

RTI closed Tuesday's regular trading at $18.67 down $2.31 or 11.01% on a volume of 1.831 million shares on the NYSE.

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by RTT Staff Writer

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