Jump to full article: Associated Press (AP), 2009-10-20
Author: MICHAEL FELBERBAUM (AP)
Intro: Reynolds American Inc. reports its third-quarter results on Thursday. The following is a summary of key developments and analyst opinion related to the period.
OVERVIEW: The nation's second-biggest cigarette company offers such brands as Camel, Pall Mall and Natural American Spirit. It also owns Conwood Co., which makes Kodiak and Grizzly brand smokeless tobacco.
Reynolds, based in Winston-Salem, N.C., is looking to grow market share and aggressively promotes its brands. Flagship brand Camel held 7.5 percent of the cigarette market in the second quarter, in line with a year earlier. Pall Mall's share climbed 2.6 percentage points to 5.2 percent.
The company's second-quarter profit climbed 4 percent because it raised prices and cut costs as sales volumes slipped and a 62-cent-per-pack federal tax took hold.
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