RTI International Metals shares opened sharply lower today after the Pittsburgh titanium producer reported a wider than expected third quarter loss and warned of continuing weak demand through next year.

The company lost $8.7 million, or 35 cents per diluted share, on sales of $100.2 million, citing lower shipments and prices for titanium mill products, continuing weak demand from the commercial aerospace industry and other factors. The results reflect a $5.7 million charge for paying down debt.

The adjusted loss per share was 20 cents vs. analyst forecasts of a 3 cent loss.

In the year-ago quarter, RTI earned $11.3 million, or 49 cents per diluted share, on sales of $150.6 million.

"We still have not seen a pickup in demand nor do I expect to see demand improve until the end of 2010 at the earliest," Vice Chairman, President and CEO Dawne S. Hickton said. "The production delays associated with the [Boeing] 787 Dreamliner continue to stress our company."

Shortly after the market opened, RTI shares were priced at $18.12, down $2.86. They are up 27 percent this year.

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