Categories
· Business (Tobacco)
· Cigars
· Business (General)
· Smokeless
Organizations
· Usda
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(Adds conference call, analyst comments, stock price, background, byline)
Jump to full article: Reuters, 2007-07-27
Author: Sarah Coffey
Intro: UST Inc. posted higher second-quarter profit on Thursday, beating analysts' estimates, on increased sales of wine and smokeless tobacco, and raised its full-year earnings forecast.
Net income climbed to $139.9 million, or 87 cents per share, from $134.6 million, or 83 cents per share, a year earlier.
Excluding restructuring and other charges, the company earned 90 cents per share, 5 cents above analysts' average forecast, according to Reuters Estimates.
"The categories we compete in are growing," Chief Executive Murray Kessler said on a call with analysts. "We continue to control costs and are returning all of our cash and more to our shareholders."
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