Titanium products maker RTI International Metals reported a better-than-expected quarterly profit on strong sales to aerospace and energy markets.
RTI, which counts Airbus and Boeing among its customers, said sales at its fabrication business rose 162 percent to USD$84.3 million. Sales at its distribution business rose 24 percent to USD$67.5 million.
A production ramp-up by Airbus has increased the demand for titanium products.
"The only slowdown impacting RTI is expected cutbacks in defence spending," chief executive Dawne Hickton said in a statement.
The company sees full-year operating income at around the higher end of its previous forecast range of USD$45 million to USD$50 million. The company also expects volume for its titanium mill products segment to exceed GBP£16 million (USD$25 million).
RTI earnings rose to USD$5.2 million for April-June, from USD$2.1 million a year earlier.
Revenue rose 54 percent to USD$190.3 million.