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ALTRIA GROUP INC (MO) 18.98 -$0.23 (-1.20%) 02:03AM (15 mins delay)

Lorillard Profit Slips Slightly

Oct 26, 2009 - 11:08 AM EDT

Lorillard said earnings slid just one percent today. The cigarette maker posted profits of $235 million, or $1.44 per share, as compared to $237 million, or $1.38 per share, in the same quarter last year. The make of Newport, Kent, True and Maverick cigarettes, said revenue was up 26 percent to $1.42 billion, but higher expenses, including promotions and other costs, put a damper on results. Lorillard is the number three cigarette maker in the US, behind Altria (MO) and Reynolds American (RAI), both of which reported last week. Lorillard shares are trading down over four and a half percent Monday morning. For MarketNewsVideo.com, I'm Angella Salvucci.

Source: Market News Video (Oct 26, 2009 - 11:08 AM EDT)