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UPDATE 1-Titanium Metals posts higher 4th-qtr profit
February 29, 2012 / 12:40 PM / in 6 years

UPDATE 1-Titanium Metals posts higher 4th-qtr profit

Feb 29 (Reuters) - Titanium Metals Corp, which provides titanium products to the aerospace industry, posted a higher fourth-quarter profit, helped by higher shipment of its mill products.

October-December profit rose to $28.6 million, or 16 cents a share, compared with $23.3 million, or 13 cents a share, a year ago.

Revenue at the company, whose customers include Boeing and Rolls Royce, rose 19 percent to $258.7 million.

The company’s melted and mill products include pipes, slabs, coils and other products made from titanium or titanium-based alloys.

Melted product shipments volume rose by a fourth to 3,985 metric tons.

Shares of the company closed at $14.93 on Tuesday on the New York Stock Exchange.

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