Titanium Group Ltd. reported unaudited earnings results for the fourth quarter and full year ended December 31, 2011. For the fourth quarter of 2011, the company posted operating income of $6.1 million on sales of $81.1 million, including intersegment sales of $37.3 million. During the same period in 2010, this Group had operating income of $0.3 million on sales of $61.5 million, including intersegment sales of $20.2 million. The operating income for the fourth quarter of 2010 was negatively impacted by an $8.3 million accrual associated with the disputed Tronox contract. For the year, sales were $312.7 million, including intersegment sales of $152.0 million, versus sales of $230.2 million and intersegment sales of $87.3 million in 2010. The Group had operating income of $29.0 million compared to operating income of $18.4 million in 2010, which included the receipt of a $15.4 million customer payment with no associated cost of sales.