UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) July 18, 2005
TITANIUM METALS CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 0-28538 13-5630895
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1999 Broadway, Ste. 4300, Denver, Colorado 80202
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (303) 296-5600
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(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Item 2.02 Results of Operations and Financial Condition.
Item 7.01 Regulation FD Disclosure.
The registrant hereby furnishes the information set forth in its press
release issued on July 18, 2005, a copy of which is attached hereto as Exhibit
99.1 and incorporated herein by reference.
The information, including the exhibit, the registrant furnishes in this
report is not deemed "filed" for purposes of section 18 of the Securities
Exchange Act of 1934, as amended, or otherwise subject to the liabilities of
that section. Registration statements or other documents filed with the
Securities and Exchange Commission shall not incorporate this information by
reference, except as otherwise expressly stated in such filing.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits.
Item No. Exhibit Index
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99.1 Press Release dated July 18, 2005.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TITANIUM METALS CORPORATION
(Registrant)
/s/ Matthew O'Leary
Matthew O'Leary
Corporate Attorney and Assistant Secretary
Date: July 19, 2005
INDEX TO EXHIBITS
Exhibit No. Description
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99.1 Press Release dated July 18, 2005.
EXHIBIT 99.1
PRESS RELEASE
FOR IMMEDIATE RELEASE: CONTACT:
Titanium Metals Corporation Bruce P. Inglis
1999 Broadway, Suite 4300 Vice President - Finance and
Denver, Colorado 80202 Corporate Controller
(303) 296-5600
TIMET UPDATES 2005 FULL YEAR GUIDANCE
DENVER, COLORADO . . . July 18, 2005 . . . Titanium Metals Corporation
("TIMET" or the "Company") (NYSE: TIE) announced it currently expects full year
2005 sales revenue to range between $730 million and $760 million, a $30 million
increase from previous guidance, reflecting higher average selling prices than
previously forecasted. Full year 2005 operating income is expected to increase
$53 million over previous guidance, to between $123 million and $138 million.
The increase in operating income relates to the projected sales revenue increase
as well as lower than previously expected raw material costs. Full year 2005 net
income attributable to common stockholders is now projected to range between
$117 million and $132 million, an increase of $37 million from previous
guidance. The projected net income attributable to common stockholders includes
(i) a $13.9 million non-operating gain on the sale of certain property and (ii)
a $25.9 million income tax benefit recognized during the first quarter of 2005.
At the upper end of the current forecasted levels, 2005 would be a record year
for TIMET. The outlook for the titanium industry remains positive, and the
Company believes that its business will continue to benefit from sustained
market demand.
TIMET also announced that it currently intends to report its second
quarter 2005 results after close of business on August 1, 2005.
This release contains forward-looking statements. These statements are
based on management's beliefs and assumptions based on currently available
information and are subject to uncertainty and changes in circumstances. Actual
results may differ materially from those projected in the forward-looking
statements. Additional information concerning factors that could cause actual
results to differ materially from those projected in the forward-looking
statements is contained in TIMET's filings with the Securities and Exchange
Commission.
TIMET, headquartered in Denver, Colorado, is a leading worldwide producer
of titanium metal products. Information on TIMET is available on its website at
www.timet.com.
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