The results caused by the delay of Boeing 's 787 jet

Tag : Titanium Metals
RTI International Metals Inc said total sales this year would be "slightly lower"than last year, and operating income would fall 20 percent to 25percent from last year.
Shares of RTI dropped $3.45, or 10.6 percent, to $28.68 in middaytrading. Earlier in the session, the stock hit a new 52-week low of$28.32.
RTI said it earned $18.6 million, or 81 cents per share, comparedwith $21 million, or 90 cents per share, a year ago.
Analysts forecast a profit of 85 cents per share, according toThomson Financial.
Sales totaled $159.8, up from $154 million a year ago and betterthan the $153.7 million that analysts had expected.
In November, RTI signed a 10-year deal to supply Boeing (nyse: BA - news - people ) Co. with structural titanium for the new 787 jet. RTI expectedthe contract to generate $900 million in sales.
But Boeing has delayed the jet, which it calls the Dreamliner,several times until the third quarter of 2009 - more than a yearbehind schedule.
RTI Chief Executive Dawne S. Hickton said the company anticipatedthe current slowdown and reduced outside processing, overtime andstaff expenses to boost operating profit margins.
Hickton said the next 12 to 18 months would be challenging butwould improve in 2010 and beyond due to demand for newer and morefuel-efficient commercial planes and new military aircraft.