CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

RTI International Metals, Inc.
(Exact Name of Registrant as Specified in Its Charter)

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))

On August 5, 2014, the Company issued a press release reporting the financial results of the Company for the quarter ended June 30, 2014. A copy of the press release is attached to this report as Exhibit 99.1 and incorporated herein by reference.

(d) Exhibits. The following exhibit is being furnished pursuant to Item 601 of Regulation S-K and General Instruction B2 to this Form 8-K:

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 thereunto duly authorized.

Engineered Products and Services Segment Drives Improvement in Quarterly Financial Results

PITTSBURGH--(BUSINESS WIRE)--August 5, 2014--RTI International Metals, Inc. (NYSE: RTI) today reported second quarter 2014 results that show improved performance from the first quarter led by its Engineered Products and Services Segment.

“Our second quarter results reflect the expected build in earnings as we closed out the first half of the year,” Dawne Hickton, Vice Chair, President and CEO of RTI, said. “Work completed on certain energy market projects and continued execution on the Boeing 787 seat track system program were the primary contributors during the second quarter, which resulted in our Engineered Products and Services Segment returning to profitability. In addition, the Titanium Segment delivered modest improvements in sales and operating income compared to the first quarter as a result of continued improvements in material and production costs.”

Commenting on the Company’s outlook, Ms. Hickton said, “Indications from our participation at last month’s Farnborough International Airshow continue to point to a steady commercial aerospace growth cycle that remains intact, and a market environment that continues to present RTI with future growth opportunities. Specific to 2014, we continue to expect a ramping increase in financial results in the third and fourth quarters, consistent with our previously announced full year outlook.”

For the 2014 second quarter, the Company reported net sales of $205.3 million, compared to net sales of $199.1 million for the same period last year. Second quarter 2014 operating income was $17.5 million and net income attributable to continuing operations was $7.1 million, or $0.23 per diluted share. This compares to 2013 second quarter operating income of $20.5 million and net income attributable to continuing operations of $1.1 million, or $0.03 per diluted share.

Second quarter 2013 operating income and net income attributable to continuing operations included the benefit of $8.3 million (pre-tax) of higher duty drawback cost recoveries, primarily related to the 2013 second quarter collection of a substantial portion of the Company’s prior period duty drawback claims backlog.

Second quarter 2013 interest expense and net income attributable to continuing operations included a $13.7 million pre-tax charge related to the early retirement of a portion of the Company’s 3.000% Convertible Senior Notes due 2015.

During the second quarter of 2014, the Titanium Segment reported operating income of $7.9 million on net sales of $83.3 million, compared to 2013 second quarter operating income of $17.0 million on net sales of $83.5 million. 2014 second quarter operating income was lower by $5.9 million due to the benefit in last year’s second quarter from the collection of a substantial portion of the Company’s prior period duty drawback claims backlog. Second quarter 2014 sales were flat with last year as the impact of higher trade customer shipment volumes was offset by a lower priced product mix. In addition, second quarter 2014 operating income was also lower due to the impact of a lower margin product mix and severance costs related to fixed cost reduction actions implemented in the current year second quarter.

Second quarter 2014 total titanium mill product shipments were 3.9 million pounds compared to 4.1 million pounds for the same period last year. Titanium mill product shipments for the first half of 2014 were 7.6 million pounds compared to 8.4 million pounds for the first six months of 2013.

During the second quarter of 2014, the Engineered Products and Services Segment reported operating income of $9.6 million on net sales of $122.0 million, compared to operating income of $3.5 million on net sales of $115.6 million for the same period last year. The improved performance was driven by a higher contribution in the current quarter from certain energy market projects, as well as higher volumes on the Boeing 787 seat track system program. This was partially offset by build-rate schedule adjustments for certain commercial aircraft programs, and the continued impact of higher new program development costs, which began to abate from 2014 first quarter cost levels. RTI Extrusions Europe, acquired in October 2013, and RTI Directed Manufacturing, acquired in January 2014, contributed $6.2 million in net sales in the second quarter. The increase in operating income from last year’s second quarter was achieved despite a $2.4 million reduction in duty drawback cost recoveries.

To participate in today's 10:00 a.m. Eastern Time conference call, please dial toll free (USA/Canada) 888-895-5479 or (International) 847-619-6250 several minutes prior to the start time and specify the RTI International Metals' Conference Call.

To listen to today’s conference call on the live webcast, please access the link available on the Events and Presentations page in the Investor Relations section of RTI’s website, www.rtiintl.com, at least 15 minutes before the event is scheduled to begin to register and download or install any necessary software.

Replay of the conference call and the webcast will be available approximately one hour after the conference ends and will remain accessible through Tuesday, August 19, 2014. To listen to the conference call replay, dial (USA/Canada) 888-843-7419 or (International) 630-652-3042 and enter conference pass code 3770 2474#. The webcast replay can be accessed on the Events and Presentations page in the Investor Relations section of RTI’s website at www.rtiintl.com.

All statements in this release relating to matters that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those projected, anticipated or implied. These risks and uncertainties include, but are not limited to, global economic and political uncertainties including the ongoing turmoil in Ukraine, the concentration of our revenue within the commercial aerospace and defense industries, actual build-rates, production schedules and titanium content per aircraft for commercial and military aerospace programs, the effectiveness of our internal controls, the successful completion and integration of completed acquisitions, our ability to recover the carrying value of goodwill and other intangible assets, military spending generally and in particular, demand from the Joint Strike Fighter program, the competitive nature of the markets for specialty metals, the ability of RTI to obtain adequate raw materials, the successful completion of RTI’s capital expansion projects, and other risks and uncertainties described and included in RTI’s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2013, and the exhibits attached thereto. 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 they may be amended from time to time. The forward-looking statements in this release are intended to be subject to the safe harbor protection provided by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. RTI undertakes no obligation to update or revise any forward-looking statements.

RTI International Metals, Inc. is a leading vertically integrated global supplier of advanced titanium and specialty metals products and services to commercial aerospace, defense, energy, medical device and other customers. For more than 60 years, RTI has been taking titanium further through advanced manufacturing, engineering, machining, and forming processes. RTI delivers titanium mill products, extruded shapes, formed and 3D-printed parts, and highly engineered precision-machined components through our downstream integrated supply chain.

Headquartered in Pittsburgh, Pa., RTI has locations in the United States, Canada, Europe, and Asia. To learn more about RTI International Metals, Inc., visit our website at www.rtiintl.com.



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

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2014			2013 (As Restated)			2014			2013 (As Restated)

Net sales	$	205,334		$	199,123		$	379,879		$	388,325
Cost and expenses:
Cost of sales		163,022			155,346			309,098			305,295
Selling, general, and administrative expenses		23,631			22,314			49,499			46,919
Research, technical, and product development expenses		1,209			982			2,193			1,983
Operating income		17,472			20,481			19,089			34,128
Other income (expense), net		(375	)		700			160			1,259
Interest income		95			50			145			81
Interest expense		(7,724	)		(20,693	)		(15,331	)		(25,489	)

Income before income taxes		9,468			538			4,063			9,979
Provision for (benefit from) income taxes		2,357			(521	)		768			3,952
Net income attributable to continuing operations	$	7,111		$	1,059		$	3,295		$	6,027
Net loss attributable to discontinued operations,
net of tax		(70	)		(389	)		(435	)		(472	)
Net income	$	7,041		$	670		$	2,860		$	5,555

Earnings per share attributable to continuing operations:
Basic	$	0.23		$	0.03		$	0.11		$	0.20
Diluted	$	0.23		$	0.03		$	0.11		$	0.20

Earnings (loss) per share attributable to discontinued operations:
Basic	$	-		$	(0.01	)	$	(0.01	)	$	(0.02	)
Diluted	$	-		$	(0.01	)	$	(0.01	)	$	(0.02	)

Weighted-average shares outstanding:
Basic		30,499,809			30,306,545			30,472,209			30,266,584
Diluted		30,575,712			30,432,874			30,579,672			30,479,476


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

ASSETS	June 30, 2014			December 31, 2013
Current assets:
Cash and cash equivalents	$	148,953		$	343,637
Short-term investments		143,602			-
Receivables, less allowance for doubtful accounts of $1,063 and $820		109,328			105,271
Inventories, net		450,451			430,088
Cost in excess of billings		7,331			5,377
Deferred income taxes		32,211			32,032
Assets of discontinued operations		806			5,274
Other current assets		20,629			16,947
Total current assets		913,311			938,626
Property, plant, and equipment, net		373,976			372,340
Goodwill		144,572			117,578
Other intangible assets, net		61,264			53,754
Other noncurrent assets		22,386			23,247
Total assets	$	1,515,509		$	1,505,545

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	80,423		$	79,039
Accrued wages and other employee costs		27,273			29,787
Unearned revenues		10,944			15,625
Liabilities of discontinued operations		-			458
Other accrued liabilities		21,423			22,574
Total current liabilities		140,063			147,483
Long-term debt		442,406			430,300
Liability for post-retirement benefits		43,931			43,447
Liability for pension benefits		13,121			13,787
Deferred income taxes		76,304			74,078
Unearned revenues		5,435			10,470
Other noncurrent liabilities		12,966			12,006
Total liabilities		734,226			731,571
Commitments and Contingencies
Shareholders’ equity:
Common stock, $0.01 par value; 100,000,000 and 50,000,000 shares authorized;
31,558,149 and 31,399,661 shares issued; 30,708,631 and
30,593,251 shares outstanding		316			314
Additional paid-in capital		535,436			532,249
Treasury stock, at cost; 849,518 and 806,410 shares		(19,649	)		(18,798	)
Accumulated other comprehensive loss		(38,286	)		(40,397	)
Retained earnings		303,466			300,606
Total shareholders’ equity		781,283			773,974
Total liabilities and shareholders’ equity	$	1,515,509		$	1,505,545


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

	Six Months Ended
	June 30,
	2014			2013 (As Restated)
Cash provided by (used in) operating activities (including adjustment for
depreciation and amortization of $22,203 and $21,753 for the periods
ended June 30, 2014 and 2013, respectively)	$	(1,337	)	$	619

Cash used in investing activities (1)		(191,097	)		(137,481	)

Cash provided by (used in) financing activities (2)		(1,356	)		271,234

Effect of exchange rate changes on cash and cash equivalents		(894	)		(129	)

Increase (decrease) in cash and cash equivalents		(194,684	)		134,243
Cash and cash equivalents at beginning of period		343,637			97,190
Cash and cash equivalents at end of period	$	148,953		$	231,433

(1)		Six months ended June 30, 2014 included cash used for the net purchase of available-for-sale, short-term investments of $143,555 and the purchases of Dynamet Technologies, Inc. and RTI Directed Manufacturing for a combined $37,217. Six months ended June 30, 2013 included cash used for the net purchase of available-for-sale, short-term investments of $128,291.
(2)		Six months ended June 30, 2013 included $402,500 in proceeds from the issuance of the Company's 1.625% Convertible Senior Notes due 2019, net of financing fees paid of $12,370, and the repurchase of a portion of the Company's 3.000% Convertible Senior notes due 2015 for $120,362.


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

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2014			2013 (As Restated)			2014			2013 (As Restated)
Net sales:
Titanium Segment net sales	$	83,318		$	83,521		$	160,298		$	180,346
Intersegment sales		22,547			25,350			47,593			41,618
Total Titanium Segment sales		105,865			108,871			207,891			221,964

Engineered Products and Services Segment net sales		122,016			115,602			219,581			207,979
Intersegment sales		22,115			17,196			50,081			33,039
Total Engineered Products and Services Segment sales		144,131			132,798			269,662			241,018

Eliminations		44,662			42,546			97,674			74,657
Total consolidated net sales	$	205,334		$	199,123		$	379,879		$	388,325

Operating income:
Titanium Segment before corporate allocations	$	12,381		$	21,474		$	22,810		$	37,611
Corporate allocations		(4,518	)		(4,510	)		(9,045	)		(9,410	)
Total Titanium Segment operating income		7,863			16,964			13,765			28,201

Engineered Products and Services Segment before corporate allocations		15,715			7,740			17,526			16,729
Corporate allocations		(6,106	)		(4,223	)		(12,202	)		(10,802	)
Total Engineered Products and Services Segment operating income		9,609			3,517			5,324			5,927

Total consolidated operating income	$	17,472		$	20,481		$	19,089		$	34,128

CONTACT:
RTI International Metals, Inc.
Dan Crookshank, 412-893-0084
Director – Investor Relations
dcrookshank@rtiintl.com


001-14437	52-2115953
(Commission File Number)	(IRS Employer Identification No.)

Westpointe Corporate Center One, 5^th Floor 1550 Coraopolis Heights Road Pittsburgh, Pennsylvania	15108-2973
(Address of Principal Executive Offices)	(Zip Code)

Exhibit No.		Description
99.1		Press release dated August 5, 2014.


	RTI INTERNATIONAL METALS, INC.

Date: August 5, 2014	By:	/s/ Michael G. McAuley
		Michael G. McAuley
		Senior Vice President, Chief Financial Officer and Treasurer (principal accounting officer)