Rti International Metals 8-K Results of Operations and Financial Condition

Exhibit 99.1

FOR IMMEDIATE RELEASE	Contact:
February 4, 2010	Richard E. Leone
	Director - Investor Relations
	rleone@rtiintl.com
	330-544-7622

RTI ANNOUNCES 2009 RESULTS

     Pittsburgh, Pennsylvania — RTI International Metals, Inc., (NYSE: RTI), released results today for the fourth quarter and full year of 2009.

Fourth Quarter 2009 Results

• Net sales were $97.3 million for the fourth quarter

• Adjusted operating loss of $7.6 million for the quarter

• Operating loss of $86.9 million for the quarter includes a $68.9 million sponge plant asset impairment, an $8.7 million goodwill impairment, and a $1.7 million duty drawback charge

• Titanium mill product shipments were 2.2 million pounds at an average realized price of $20.86 per pound for the quarter

Full Year 2009 Results

• 2009 net sales were $408.0 million

• Adjusted operating loss of $5.5 million for the full year

• Operating loss for the year of $87.3 million includes a total of $81.7 million of charges associated with sponge plant asset impairment, goodwill impairment and duty drawback charges

• Cash and short-term investments at the end of the year were $121.3 million while total debt was $0.1 million

• Titanium mill product shipments were 10.0 million pounds at an average realized price of $21.71 for the year

(more)

February 4, 2010
Page 2 of 10

• Mill product shipments do not include approximately 1.0 million pounds of lower priced product not taken by Airbus as required under its agreement, which management believes results in a payment and operating income shortfall of $17.9 million

             Both the full year and quarterly year-over-year comparisons reflected a difficult titanium market that continued to be impacted by the unprecedented titanium inventory build-up in the commercial aerospace supply chain. This inventory build was primarily the result of the two-year production delay for the Boeing 787, as well as the global economic recession.

             For the fourth quarter ended December 31, 2009, the Company reported net sales of $97.3 million compared to $148.8 million in the fourth quarter of 2008. The operating loss for the quarter was $86.9 million versus operating income of $5.4 million for the same period in 2008. Excluding the impact of: (i) asset impairment and related charges of $68.9 million associated with the Company’s decision to indefinitely idle its titanium sponge plant; (ii) a noncash goodwill impairment charge of $8.7 million at the energy reporting unit in the Fabrication Group and; (iii) $1.7 million of charges associated with duty drawback, the adjusted operating loss for the quarter is $7.6 million. Fourth quarter net loss was $57.3 million or $1.91 per diluted share, in comparison to net income of $3.6 million, or $0.16 per diluted share for the same period in the prior year.

             For the full year 2009, the Company reported net sales of $408.0 million versus net sales of $609.9 million for 2008 with operating losses of $87.3 million versus operating income of $87.4 million for 2008. In addition to the fourth quarter charges, operating income for the year was impacted by an additional $2.4 million of charges incurred throughout the year associated with denied duty drawback claims and penalties for a total of $4.2 million for the year. The Company posted a net loss of $67.2 million, or $2.67 per diluted share for 2009, versus net income of $55.7 million, or $2.41 per diluted share, in the previous year. The 2009 net loss also included $5.7 million of charges associated with the Company’s debt repayment in the third quarter.

Titanium Group

             Sales in 2009 for the Titanium Group were $229.3 million, including intercompany sales of $121.7 million versus $353.9 million, including intercompany sales of $151.9 million in 2008. The Group had an operating loss of $68.1 million for the year, compared to operating income of $61.8 million in 2008. For the fourth quarter of 2009, the Titanium Group posted an operating loss of $75.4 million on sales of $48.4 million, including intersegment sales of

(more)

February 4, 2010
Page 3 of 10

$27.0 million. The operating loss for the quarter was impacted by the aforementioned $68.9 million charge associated with the indefinite idling of the titanium sponge plant, $1.7 million of duty drawback charges, as well as Airbus not taking approximately 1.0 million pounds of its required minimum of 5.0 million pounds of titanium mill products. During the same period in 2008, this Group had operating income of $3.0 million on sales of $70.5 million including intersegment sales of $25.3 million.

     Mill product shipments for the fourth quarter were 2.2 million pounds at an average realized price of $20.86 per pound, compared to mill product shipments of 3.0 million pounds in the fourth quarter of 2008 at an average realized price of $22.04 per pound.

Fabrication Group

     In 2009, net sales for the Fabrication Group were $106.2 million versus $146.8 million in 2008. This Group had an operating loss of $26.3 million for the year, compared to operating income of $2.0 million in 2008. During the fourth quarter of 2009, the Fabrication Group posted an operating loss of $12.2 million, which includes an $8.7 million impairment charge associated with the Group’s energy reporting unit, on net sales of $26.3 million. For the same period in 2008, this Group had an operating loss of $1.4 million on net sales of $40.0 million. Boeing’s 787 production delays continue to cause the Group’s extrusion facility in Houston and machining unit outside Montreal to experience significant manufacturing inefficiencies throughout the year.

Distribution Group

     For 2009, net sales for the Distribution Group were $194.1 million versus $261.1 million in 2008. The Group had operating income of $7.1 million for the year, compared to $23.6 million in 2008. For the fourth quarter of 2009, the Distribution Group posted operating income of $0.7 million on net sales of $49.6 million. For the same period in 2008, this Group had operating income of $3.7 million on net sales of $63.6 million. During the fourth quarter, pricing for titanium products appeared to stabilize while nickel-bearing alloys increased modestly.

CEO Comment

     “Last year presented an extremely challenging operating environment for RTI,” commented Dawne S. Hickton, Vice Chairman, CEO, and President. “In addition to the global economic upheaval, our commercial aerospace customers experienced extended program delays, resulting in significantly reduced

(more)

February 4, 2010
Page 4 of 10

current need for titanium mill products and fabricated parts. These issues had a profound adverse impact in the year on our Fabrication Group, primarily related to the 787 Dreamliner. In addition, Airbus’ challenges with the A400 military transport and the A380 contributed to the Titanium Group operating at less than 50% capacity. We therefore took a number of prudent steps during the year to best position our Company for the many long-term opportunities ahead, including raising additional capital, leaving us with a strong balance sheet at year end.”

     Ms. Hickton continued, “The Airbus shortfall of $17.9 million under the agreement is due in 2010. Looking forward, Airbus has preliminarily advised RTI that during 2010 it will require less than half of its 5.0 million pound contract minimum. The parties are in discussions relating to this anticipated shortfall. We are willing to work with Airbus to craft alternative solutions to its dilemma that will provide long-term benefits to RTI. However, absent an attractive alternative to RTI, we expect Airbus to honor the agreement. With respect to our fabrication business, we continue to prepare for accelerated production on the Boeing 787 Dreamliner. But as we have experienced to date, due to the complexity of the program and supply chain, it is possible that there could be further delays or a slower ramp up and, consequently, continued losses within the Fabrication Group.

     “Despite some continued challenges for 2010, we are getting closer to the inflection point when our production increases dramatically. Unfortunately, this point will not occur in the year ahead. However, given our significant presence on the four key titanium intensive airframes: the Joint Strike Fighter, the Boeing 787, the Airbus A350, and the Airbus A380; and with over $120 million in cash and virtually no debt, RTI is well positioned to ultimately realize the benefits of our tremendous long-term prospects. However, in light of the matters described above, as well as continued uncertainties in the titanium market generally, we do not have sufficient visibility to provide definitive guidance.”

Conference Call Information

     To participate in today’s call at 10:00 a.m. Eastern Time, please dial toll free (USA/Canada) 800-446-1671 or (International) 847-413-3362 a few minutes prior to the start time and specify the RTI International Metals’ Conference Call.

Replay Information

     Replay of the call will be available one hour after the conference ends and remains accessible until Thursday, February 18, 2010, at 11:59 p.m., Eastern

(more)

February 4, 2010
Page 5 of 10

Time. To listen to the replay, dial (USA/Canada) 888-843-8996 or (International) 630-652-3044 and enter passcode #26181318.

Forward Looking Statement

     The statements in this release relating to matters that are not historical facts are forward-looking statements that may involve risks and uncertainties. These include, but are not limited to, the impact of global events on the commercial aerospace industry, actual build-rates, production schedules and content per aircraft for commercial and military aerospace programs, military spending and continued support for the Joint Strike Fighter program, the impact from Boeing 787 production delays, the impact of customers ordering less than minimum required volumes under long-term contracts, global economic conditions, the competitive nature of the markets for specialty metals, the ability of the Company to obtain an adequate supply of raw materials, the successful completion of our capital expansion projects, and other risks and uncertainties included in the Company’s filings with the Securities and Exchange Commission. Actual results can differ materially from those forecasted or expected. The information contained in this release is qualified by and should be read in conjunction with the statements and notes filed with the Securities and Exchange Commission on Forms 10-K and 10-Q, as may be amended from time to time.

Company Description

     RTI International Metals^®, headquartered in Pittsburgh, Pennsylvania, is one of the world’s largest producers of titanium mill products and a global supplier of fabricated titanium and specialty metal components for the international market. Through its various subsidiaries, RTI manufactures and distributes titanium and specialty metal mill products, extruded shapes, formed parts and engineered systems for commercial aerospace, defense, energy, industrial, chemical, and consumer applications for customers around the world. To learn more about RTI International Metals, Inc., visit our website atwww.rtiintl.com.

(more)

February 4, 2010
Page 6 of 10

RTI INTERNATIONAL METALS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Operations
(Unaudited)
(In thousands, except share and per share amounts)

	Three Months Ended						Twelve Months Ended
	December 31,						December 31,
	2009			2008			2009			2008
Net sales	$	97,323		$	148,808		$	407,978		$	609,900
Cost and expenses:
Cost of sales		89,120			119,918			352,167			442,626
Selling, general, and administrative expenses		16,964			22,933			63,490			77,762
Research, technical, and product development expenses		508			530			2,001			2,120
Asset-related impairments		68,897			—			68,897			—
Goodwill impairments		8,699			—			8,699			—
Operating income (loss)		(86,865	)		5,427			(87,276	)		87,392
Other income		50			1,656			2,056			1,527
Interest income		186			1,090			1,511			3,262
Interest expense		(340	)		(2,611	)		(12,347	)		(4,206	)
Income (loss) before income taxes		(86,969	)		5,562			(96,056	)		87,975
Provision for (benefit from) income taxes		(29,716	)		1,969			(28,817	)		32,280
Net income (loss)	$	(57,253	)	$	3,593		$	(67,239	)	$	55,695
Earnings (loss) per share:
Basic	$	(1.91	)	$	0.16		$	(2.67	)	$	2.42
Diluted	$	(1.91	)	$	0.16		$	(2.67	)	$	2.41
Weighted-average shares outstanding:
Basic		29,833,757			22,840,467			25,029,976			22,872,075
Diluted		29,833,757			22,849,172			25,029,976			22,987,503

(more)

February 4, 2010
Page 7 of 10

RTI INTERNATIONAL METALS, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(Unaudited)
(In thousands, except share and per share amounts)

	December 31,			December 31,
	2009			2008
ASSETS
Current assets:
Cash and cash equivalents	$	56,216		$	284,449
Short-term investments		65,042			—
Receivables, less allowance for doubtful accounts of $646 and $2,260		60,924			79,778
Inventories, net		266,887			274,330
Deferred income taxes		21,237			29,456
Other current assets		21,410			11,109
Total current assets		491,716			679,122
Property, plant, and equipment, net		252,301			271,062
Goodwill		41,068			47,984
Other intangible assets, net		14,299			13,196
Deferred income taxes		53,814			15,740
Other noncurrent assets		1,537			2,099
Total assets	$	854,735		$	1,029,203
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	39,193		$	54,422
Accrued wages and other employee costs		9,796			20,452
Unearned revenue		21,832			22,352
Current portion of long-term debt		—			1,375
Current liability for post-retirement benefits		2,476			2,632
Current liability for pension benefits		140			121
Other accrued liabilities		30,518			18,167
Total current liabilities		103,955			119,521
Long-term debt		81			238,550
Noncurrent liability for post-retirement benefits		34,530			30,732
Noncurrent liability for pension benefits		28,102			26,535
Deferred income taxes		244			154
Other noncurrent liabilities		8,617			11,777
Total liabilities		175,529			427,269
Shareholders’ equity:
Common stock, $0.01 par value; 50,000,000 shares authorized; 30,724,351 and 23,688,010 shares issued; 30,010,998 and 23,004,136 shares outstanding		307			237
Additional paid-in capital		439,361			307,604
Treasury stock, at cost; 713,353 and 683,874 shares		(16,996	)		(16,891	)
Accumulated other comprehensive loss		(33,563	)		(46,352	)
Retained earnings		290,097			357,336
Total shareholders’ equity		679,206			601,934
Total liabilities and shareholders’ equity	$	854,735		$	1,029,203

(more)

February 4, 2010
Page 8 of 10

RTI INTERNATIONAL METALS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Cash Flows
(Unaudited)
(In thousands)

	Twelve Months Ended
	December 31,
	2009			2008
Cash provided by operating activities (including depreciation and amortization of $21,163 and $20,201 for the twelve months ended December 31, 2009 and 2008, respectively)	$	32,610		$	82,959
Cash used in investing activities		(147,263	)		(125,590	)
Cash provided by (used in) financing activities		(114,708	)		218,760
Effect of exchange rate changes on cash and cash equivalents		1,128			815
Increase (decrease) in cash and cash equivalents		(228,233	)		176,944
Cash and cash equivalents at beginning of period		284,449			107,505
Cash and cash equivalents at end of period	$	56,216		$	284,449

(more)

February 4, 2010
Page 9 of 10

RTI INTERNATIONAL METALS, INC. AND SUBSIDIARIES
Selected Operating Segment Information
(Unaudited)
(In thousands)

	Three Months Ended						Twelve Months Ended
	December 31,						December 31,
	2009			2008			2009			2008
Net sales:
Titanium Group	$	21,342		$	45,156		$	107,622		$	202,024
Intersegment sales		27,049			25,311			121,664			151,910
Total Titanium Group net sales		48,391			70,467			229,286			353,934
Fabrication Group		26,346			40,021			106,231			146,816
Intersegment sales		12,817			16,335			57,378			79,027
Total Fabrication Group net sales		39,163			56,356			163,609			225,843
Distribution Group		49,635			63,631			194,125			261,060
Intersegment sales		367			868			2,230			2,628
Total Distribution Group net sales		50,002			64,499			196,355			263,688
Eliminations		40,233			42,514			181,272			233,565
Total consolidated net sales	$	97,323		$	148,808		$	407,978		$	609,900
Operating income (loss):
Titanium Group before corporate allocations	$	(72,915	)	$	8,058		$	(57,849	)	$	76,883
Corporate allocations		(2,523	)		(5,011	)		(10,236	)		(15,123	)
Total Titanium Group operating income (loss)		(75,438	)		3,047			(68,085	)		61,760
Fabrication Group before corporate allocations		(9,828	)		1,868			(16,796	)		12,781
Corporate allocations		(2,348	)		(3,233	)		(9,533	)		(10,744	)
Total Fabrication Group operating income (loss)		(12,176	)		(1,365	)		(26,329	)		2,037
Distribution Group before corporate allocations		2,615			6,454			14,716			32,561
Corporate allocations		(1,866	)		(2,709	)		(7,578	)		(8,966	)
Total Distribution Group operating income		749			3,745			7,138			23,595
Total consolidated operating income (loss)	$	(86,865	)	$	5,427		$	(87,276	)	$	87,392

(more)

February 4, 2010
Page 10 of 10

RTI INTERNATIONAL METALS, INC. AND SUBSIDIARIES
GAAP to Non-GAAP Reconciliation
(Unaudited)
(In thousands)

	Three Months Ended			Twelve Months Ended
	December 31, 2009			December 31, 2009
Operating Loss — GAAP	$	(86,865	)	$	(87,276	)
Asset-Related Impairments		68,897			68,897
Goodwill Impairment		8,699			8,699
Duty Drawback Charge		1,714			4,167
Adjusted Operating Loss — Non-GAAP	$	(7,555	)	$	(5,513	)
Airbus Pay Obligation		17,942			17,942
Adjusted Operating Income (including Airbus Pay Obligation) — Non-GAAP	$	10,387		$	12,429

###