PITTSBURGH - Continued weak demand for titanium products, plus a charge and tax expense, drove RTI International Metals Inc. to an $8.7 million loss in its third quarter, and the forecast is for more of the same, the company said Tuesday.

The loss, which totaled 35 cents per share, compared to a profit of $11.3 million, or 49 cents per share, in the same quarter of 2008. Sales dropped to $100.2 million versus $150.6 million a year ago.

The loss was 32 cents per share worse than analysts' consensus estimate of a loss of 3 cents per share. The company's shares dropped $2.31, or 11 percent, Tuesday to finish at $18.67.

Contributing to the loss was a $5.7 million financing charge for paying $242.8 million of debt after the company raised cash through a stock sale. It also had a $3.9 million tax expense.

RTI said it has lost $10 million, or 42 cents per share, through the first nine months of the year compared to a $52.1 million, or $2.26 per share, profit a year ago.

Vice Chairman, President and Chief Executive Officer Dawne Hickton said the company doesn't expect to be profitable in 2009. Management doesn't see improved demand until the end of 2010 at the earliest, she said. Production delays with Boeing's 787 Dreamliner passenger jet ''continue to stress our company,'' especially in the Fabricating Group, which had a $500,000 operating loss as sales fell to $27.3 million from $35.7 million a year ago, Hickton said.

The Titanium Group, which includes the Weathersfield-based RTI Niles mill, posted operating income of $1 million on sales of $54.4 million versus operating income of $11.9 million on sales of $85.3 million.

Mill shipments fell to 2.4 million pounds at an average price of $21.32 compared to 34 million pounds at an average price of $23.04 last year.

The group's nine-month operating profit slumped to $7.4 million on sales of $180.9 million from $58.7 million and sales of $283.5 million a year ago.

Shipments were 7.8 million pounds at an average price of $21.95 versus 11.2 million pounds at an average price of $23.79.

Hickton declined to give any guidance on mill shipments in 2010 until early next year, saying customers are focused on the bare minimums required by contract.

The company's Distribution Group saw operating income drop to $1.4 million from $4.9 million last year. Sales were $44.1 million versus $65.5 million.

Hickton noted the company's restocked balance sheet gives it ''substantial financial flexibility,'' with no funded debt, more than $124 million in readily available cash and an undrawn $200 million revolving credit arrangement.

lringler@tribtoday.com