Tobacco.org

Lorillard, Inc. Reports Fourth Quarter and Annual 2009 Results 

"Given the challenges presented by an unprecedented increase in the federal excise taxes on cigarettes in April 2009, we are pleased to announce our fourth quarter and full year 2009 results were consistent with our long-standing strategic objective of balancing profitability and the improvement of the Newport brand's market share performance," stated Martin Orlowsky, Chairman, President and Chief Executive Officer. "For 2009, our operating income increased by 8.9% over 2008 and Newport's 2009 domestic retail share reached 10.28%, as measured by the Company's proprietary retail database, up 0.36 points versus 2008. Lorillard again outperformed the domestic tobacco industry as Lorillard's domestic wholesale shipments declined 3.9% in 2009 compared to 2008 versus an industry decrease of 8.6%."

Jump to full article »