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Reynolds American 3Q profit jumps 72 percent 

Jump to full article: Associated Press (AP), 2009-10-22
Author: MICHAEL FELBERBAUM (AP)

Intro:

Cigarette maker Reynolds American Inc. said Thursday despite selling fewer cigarettes, its profit surged 72 percent from last year's third-quarter, when charges from trademark impairment and restructuring dampened its earnings.

Tax increases and the tough economy took 11 percent out of the volume of cigarettes shipped by the maker of Camel, Pall Mall and Natural American Spirit. But the nation's second-biggest cigarette company raised its full-year profit outlook based in part on its quarterly performance.

Reynolds American earned $362 million, or $1.24 per share, for the period that ended Sept. 30. That's up from $211 million, or 72 cents per share, a year earlier.

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