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RTI International Metals (RTI) reported a breakeven 4Q, which adjusted to earnings of roughly $0.05/share excluding acquisition costs and a true-up of the company’s tax rate, below the Street’s $0.10/share, but an improvement from a loss of $0.05 in the year-ago period.  Management attributed the improvement from a year ago partially to increased titanium mill shipments as a result of a pick-up in commercial-aircraft build rates, though the company expressed disappointment in the ramping up of the 787 program and cited delays in the Joint Strike Fighter program. The Fabrication Group was hampered by delivery delays from third parties, management said.

Guidance for 2012 – assuming the Remmele Engineering acquisition closes by the end of 1Q – is for operating income of $45-50m (up sharply from $27.8m in 2011), sales of more than $700m (compared with $529.7m for 2011), and total mill product shipments of 15.5m-16m pounds (compared with 14.7m pounds in 2011).

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