Smokeless Tobacco Boosts Reynolds

Posted By Staff

Date: October 31st, 2007

Category: Uncategorized

Reynolds American Inc., the second-largest U.S. tobacco company, posted a 16% rise in third-quarter net income amid market-share gains and strong sales of smokeless tobacco.
It also said full-year earnings would be at or above its previous outlook, citing the effect of a cigarette price hike.
Reynolds American, which trails only Altria Group Inc. in size, reported net income of $358 million, or $1.21 a share, for the quarter, compared with $309 million, or $1.05 a share, a year earlier. Net sales in the latest quarter rose 4.9% to $$2.3 billion. Full Story
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