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 CHARLOTTE, N.C. (AP) - Reynolds American Inc. posted fourth-quarter profits Wednesday that were sharply higher than the same period last year, as the nation's second-largest cigarette company benefited from sales of premium brands Kool and Camel and improved operating efficiencies. The company's shares soared nearly 5 percent.
The Winston-Salem-based company earned $297 million, or $2.01 per share, compared with $76 million, or 51 cents per share, in the year-ago quarter. Earnings from continuing operations were $1.63 per share, compared with 44 cents per share last year.
Analysts surveyed by Thomson Financial were predicting earnings of $1.52 per share on sales of $1.99 billion in the latest quarter. Analysts typically exclude one-time items from their estimates.
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