Brief: Tough market seen for titanium maker

Timet, which has a big Las Vegas-area plant near Henderson, said the writeoff led to a quarterly loss of $2.5 million or 8 cents per basic share. That compares to a profit of $25.6 million or 81 cents per basic share in the year-earlier quarter.

Quarterly sales of $156.3 million were down from $208 million in the year-ago quarter as demand fell from the aerospace industry. Timet said it's cutting its workforce worldwide by 600 jobs, or 20 percent of its staff, as it prepares to endure continued low demand for titanium.

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