Rti International Metals 8-K Rti Announces Record Results for 2006

Exhibit 99.1

FOR IMMEDIATE RELEASE	Contact
February 22, 2007	Richard E. Leone
	Manager — Investor Relations
	rleone@rtiintl.com
	330-544-7622

RTI ANNOUNCES RECORD RESULTS FOR 2006

     Niles, Ohio — RTI International Metals, Inc., (NYSE: RTI) released results today for the fourth quarter and year of 2006.

     RTI reported net income for the year of $75.7 million, or $3.34 per share, on sales of $505.4 million. Both income and sales were the highest ever achieved by the Company. By comparison, results for the year 2005 were net income of $38.9 million, or $1.75 per share, on sales of $346.9 million.

     The fourth quarter of 2006 also set new records for the Company, generating net income of $26.8 million, or $1.18 per share, on sales of $143.8 million. The same period in 2005 resulted in net income of $11.3 million, or $0.50 per share, on sales of $99.9 million.

     Mill product shipments for the fourth quarter were 3.9 million pounds at an average realized price of $22.45 per pound versus 3.1 million pounds in the year earlier period at an average realized price of $16.92 per pound. As a result, the Titanium Group posted operating profit in the fourth quarter of 2006 of $25.2 million on sales of $97.2 million, including intergroup sales of $46.3 million. Fourth quarter 2005 results were an operating profit of $11.2 million on sales of $66.9 million, including intergroup sales of $29.7 million.

     Full year 2006 mill product shipments increased 37% to 15.2 million pounds as compared to 11.1 million in 2005. Average realized prices rose 35% in 2006 to $20.78 per pound versus $15.37 per pound in 2005. Titanium Group operating income increased to $78.5 million for the year on sales of $356.9 million, including intergroup sales of $152.0 million. In 2005, the Group had operating income of $40.8 million on sales of $226.2 million, including intergroup sales of $96.1 million.

     The Company’s Fabrication & Distribution Group posted an exceptionally good fourth quarter, generating a 16.6% operating margin of $15.4 million on sales of $92.9 million. The strong performance was due to greater than expected spot sales of titanium sheet and the completion of several projects at RTI Energy Systems during the quarter. During the same period in 2005, the Group had operating income of $3.4 million on net sales of $62.6 million.

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February 22, 2007
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     For the full year 2006 Fabrication & Distribution generated an operating profit of $36.8 million on net sales of $300.5 million. The Group had operating income of $15.3 million in 2005 on net sales of $216.7 million.

     Commenting on the Company’s results, Timothy G. Rupert, President and CEO, said, “RTI had its best year ever in 2006, and the future continues to look promising. Demand for titanium is strong from all consuming markets, particularly commercial aerospace. Aircraft build rates continue to grow and backlogs for new planes at Boeing and Airbus are at record levels, now standing at nearly 5,000. The newer model aircraft being built have increased titanium usage in their design. As a result, world wide demand for titanium is expected to increase significantly in the coming years, perhaps doubling by 2015. The long term supply contracts announced earlier this year in support of Boeing’s 787 and the family of Airbus aircraft, as well as the current capacity expansions, will enable RTI to participate in this growing demand.

     “Looking forward to 2007, we anticipate another excellent year. Our order backlog at the end of the year stood at $606 million, up 35% from the prior year end. We expect to ship over 80% of those orders in 2007. Growth in titanium mill product volumes will be limited by mill capacity until our current expansion is completed late in the year. However, we expect mill product prices to continue to improve. The Fabrication & Distribution Group should also see increases in both volume and prices. On a consolidated basis we expect RTI’s sales to grow 20-25% over 2006. Operating income is expected to increase by approximately 35-40%.”

     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, military spending, 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, successful completion of the Company’s capital expansion projects, the design and effectiveness of the Company’s internal control over financial reporting, 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.

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February 22, 2007
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     RTI International Metals^®, headquartered in Niles, Ohio, is a leading U.S. producer of titanium mill products and fabricated metal components for the global market. Through its various subsidiaries, RTI manufactures and distributes titanium and specialty metal mill products, extruded shapes, formed parts and engineered systems for aerospace, industrial, defense, energy, chemical and consumer applications for customers around the world. To learn more about RTI International Metals, Inc., visit our website at www.rtiintl.com.

     NOTE: RTI International Metals, Inc. has scheduled a conference call for Friday, February 23, 2007 at 10:00 a.m., Eastern Time, to discuss this press release. To participate in the call, please dial toll free (USA/Canada) 800-938-0653 or (International) 973-935-2408 a few minutes prior to the start time and specify the RTI International Metals Conference Call. Replay of the call will be available until 11:59 p.m., Eastern Time, on Friday, March 2, 2007, by dialing (USA/Canada) 877-519-4471 or (International) 973-341-3080 and Digital Pin Code 8331257.

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February 22, 2007
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RTI INTERNATIONAL METALS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Operations
(Unaudited)
(In thousands, except per share amounts)

	Three Months Ended						Years Ended
	December 31,						December 31,
	2006			2005			2006			2005
Net sales	$	143,788		$	99,850		$	505,389		$	346,906
Cost and expenses:
Cost of sales		90,088			70,065			332,530			240,314
Selling, general and administrative expenses		12,716			14,713			56,110			48,816
Research, technical and product development expenses		363			467			1,496			1,642
Operating income		40,621			14,605			115,253			56,134
Other income		358			(130	)		540			369
Interest income		1,232			332			3,172			1,418
Interest expense		(327	)		(82	)		(674	)		(509	)
Income from continuing operations before income taxes		41,884			14,725			118,291			57,412
Provision for income taxes		15,100			4,935			42,591			20,068
Income from continuing operations		26,784			9,790			75,700			37,344
Income from discontinued operations, net of tax provision		—			1,504			—			1,591
Net income	$	26,784		$	11,294		$	75,700		$	38,935
Basic earnings per share:
Continuing operations	$	1.18		$	0.43		$	3.34		$	1.68
Discontinued operations		—			0.07			—			0.07
Net income	$	1.18		$	0.50		$	3.34		$	1.75
Diluted earnings per share:
Continuing operations	$	1.16		$	0.43		$	3.29		$	1.66
Discontinued operations		—			0.07			—			0.07
Net income	$	1.16		$	0.50		$	3.29		$	1.73
Weighted-average shares outstanding:
Basic		22,737			22,506			22,657			22,187
Diluted		23,053			22,806			23,037			22,526

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February 22, 2007
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RTI INTERNATIONAL METALS, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(Unaudited)
(In thousands, except share and per share amounts)

	December 31,
ASSETS	2006			2005
Current assets:
Cash and cash equivalents	$	40,026		$	53,353
Investments		85,035			2,410
Receivables, less allowance for doubtful accounts of $1,548 and $1,604		92,517			54,212
Inventories, net		241,638			223,394
Deferred income taxes		2,120			3,778
Other current assets		5,818			7,407
Total current assets		467,154			344,554
Property, plant and equipment, net		102,470			80,056
Goodwill		48,622			48,646
Other intangible assets, net		15,581			16,581
Deferred income taxes		9,076			5,451
Intangible pension asset		—			4,076
Other noncurrent assets		1,010			2,387
Total assets	$	643,913		$	501,751
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	34,055		$	25,620
Accrued wages and other employee costs		17,475			10,953
Billings in excess of costs and estimated earnings		21,147			13,352
Income taxes payable		5,253			3,367
Current deferred income taxes		10,255			3
Current portion long-term debt		459			—
Current liability for post-retirement benefits		2,783			—
Current liability for pension benefits		580			—
Other accrued liabilities		9,436			8,589
Total current liabilities		101,443			61,884
Long-term debt		13,270			—
Liability for post-retirement benefits		32,445			21,070
Liability for pension benefits		22,285			25,595
Deferred income taxes		5,422			6,516
Other noncurrent liabilities		6,867			7,034
Total liabilities		181,732			122,099
Shareholders’ equity:
Common stock, $0.01 par value; 50,000,000 shares authorized; 23,440,127 and 23,131,378 shares issued; 22,967,284 and 22,687,306 shares outstanding		234			231
Additional paid-in capital		289,448			278,690
Deferred compensation		—			(3,078	)
Treasury stock, at cost; 472,843 and 444,072 shares		(5,285	)		(4,389	)
Accumulated other comprehensive loss		(31,226	)		(25,112	)
Retained earnings		209,010			133,310
Total shareholders’ equity		462,181			379,652
Total liabilities and shareholders’ equity	$	643,913		$	501,751

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

	Years Ended
	December 31,
	2006			2005
Cash provided (used) by continuing operating activities (including depreciation and amortization of $14,292 and $13,263, respectively)	$	83,671		$	(12,182	)
Cash provided by discontinued operating activities		—			1,473
Cash provided (used) by operating activities		83,671			(10,709	)
Cash used by investing activities of continuing operations		(118,346	)		(12,158	)
Cash from investing activities of discontinued operations		—			8
Cash used in investing activities		(118,346	)		(12,150	)
Cash provided by financing activities		21,629			13,328
Effect of exchange rate changes on cash and cash equivalents		(281	)		183
Decrease in cash and cash equivalents		(13,327	)		(9,348	)
Cash and cash equivalents at beginning of period		53,353			62,701
Cash and cash equivalents at end of period	$	40,026		$	53,353

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

	Three Months Ended						Years Ended
	December 31,						December 31,
	2006			2005			2006			2005
Net sales:
Titanium Group	$	50,841		$	37,202		$	204,881		$	130,180
Intersegment sales		46,336			29,733			151,983			96,079
Total Titanium Group net sales		97,177			66,935			356,864			226,259
Fabrication & Distribution Group		92,947			62,648			300,508			216,726
Intersegment sales		1,041			1,175			5,641			4,929
Total Fabrication & Distribution Group net sales		93,988			63,823			306,149			221,655
Eliminations		47,377			30,908			157,624			101,008
Total consolidated net sales	$	143,788		$	99,850		$	505,389		$	346,906
Operating income:
Titanium Group before corporate allocations	$	27,053		$	14,502		$	86,767		$	49,331
Corporate allocations		(1,832	)		(3,344	)		(8,306	)		(8,497	)
Total Titanium Group operating income		25,221			11,158			78,461			40,834
Fabrication & Distribution Group before corporate allocations		19,358			8,001			53,241			29,766
Corporate allocations		(3,958	)		(4,554	)		(16,449	)		(14,466	)
Total Fabrication & Distribution Group operating income		15,400			3,447			36,792			15,300
Total consolidated operating income	$	40,621		$	14,605		$	115,253		$	56,134

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