Reynolds American's Q4 net profit rose 16% year-over-year to US$304M, due in part to its focus on fewer key brands and more smokeless products; revenue was up 0.1% to US$2.08B
February 8, 2012
– Reynolds American Inc., the nation's second-biggest tobacco company, said today that its fourth-quarter profits rose 16 percent as higher prices and productivity gains helped offset declining cigarette sales.
The maker of Camel, Pall Mall and Natural American Spirit brand cigarettes reported net income of $304 million, or 52 cents per share, for the three-month period ended Dec. 31, up from $262 million, or 45 cents per share, a year ago.
Reynolds American said that adjusted for charges related to the value of one of its trademarks and other costs, it earned 72 cents per share, beating Wall Street estimates of 68 cents per share.
The Winston-Salem company said revenue excluding excise taxes was flat at $2.08 billion. Analysts polled by FactSet expected revenue of $2.04 billion.
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