Lorillard Q4 Profit Declines, EPS Flat - Quick Facts

(RTTNews) - US cigarette maker Lorillard, Inc. (LO) Wednesday reported fourth-quarter net income of $293 million, lower than $309 million in the prior year. On a per share basis, earnings remained flat at $0.80.

Adjusted earnings for the recent quarter were $0.82 per share, while the company posted $0.79 per share a year ago.

On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.86 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter, including excise taxes, grew 2.3% to $1.74 billion from $1.70 billion reported last year. Analysts estimated revenues of $1.31 billion for the quarter.

Selling, general and administrative expenses advanced to $144 million from $122 million a year earlier.