Titanium Metals Corp. reported net income of $33.6 million, or $1.63 per diluted share, on revenue that increased 48 percent to $183.7 million in the second quarter, ended June 30. That compares with net income of $3.4 million, or 21 cents per diluted share, on revenue of $124.1 million, for Q2 2004. Denver-based Titanium (NYSE: TIE - News) attributed the rise in revenue to both increases in average selling prices and sales volumes. The company beat the estimate by the one analyst following it, who predicted EPS of $1.25 and revenue of $180 million for Q2. For the first six months of 2005, Titanium reported net income of $71.7 million, or $3.47 per diluted share, on revenue of $339 million. That compares with net income of $2.2 million, or 14 cents per diluted share, on revenue of $244.6 million for the year-ago period.
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