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All - Discount - Cigarettes
News on All - Discount - Cigarettes .com
Philip Morris' quarterly profit rises 5%
Categories:
· Business
International:
· USA
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Source:http://www.marketwatch.com/,2010-02-15
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PMI earned $1.52 billion, or 80 cents a share, in the period, up from $1.45 billion, or 71 cents a share, in the same quarter of 2008. The company would have earned 81 cents a share on an adjusted basis.
Revenue excluding excise taxes rose 9.7% to $6.72 billion.
The average estimate of analysts polled by FactSet Research had been for the company to earn 79 cents a share on revenue of $6.54 billion.
Shares of Philip Morris added 3.4% in early trading.
The company shipped 218.2 billion units in the quarter, an increase of 0.5%. Particularly strong markets included Algeria, Egypt and Turkey, while the European Union, Latin America and Canada were weak.
"The fragility of the economic recovery, particularly with regard to employment levels and currency volatility, naturally warrants a cautious outlook for 2010," said Louis Camilleri, chief executive, in the earnings report. "However, we enjoy solid momentum and remain confident that we will again post strong financial results this year."
Looking ahead, PMI said it expects to earn $3.75 to $3.85 a share in 2010, compared with analysts' projections of $3.74 a share, according to FactSet.
The company also announced a new $12 billion, three-year share-buyback program, which will begin in May. |
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Tobacco Hot news and Information...
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Tobacco trial could take months
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Source: http://www.timesunion.com/,2010-09-07 |
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A billion-dollar tobacco-related trial is scheduled to open in St. Louis in January, and court officials have begun the process of finding jurors. It isn't easy — the trial could take six to seven months.
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NY cigarette tax plans raise reservation tensions
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Source: http://www.timesunion.com/,2010-09-03 |
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As New York Indian Nation leaders battle in courtrooms to preserve their tax-free cigarette market, tensions are rising on reservations, where the state's renewed efforts to tax sales to non-Native customers is viewed as yet another attack on Native American rights.
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New Study Confirms $1 Cigarette Tax Increase Will Produce Large, Sustained Revenue Needed to Cut North Carolina Budget Deficit
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Source: http://www.sunherald.com/,2010-05-20 |
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As the legislative session begins, a report released today by a tobacco policy expert at the University of Illinois at Chicago confirms that a significant cigarette tax increase in North Carolina will produce a large, sustained increase in state tobacco tax revenues. Several states, including South Carolina, have recently raised tobacco taxes to deal with budget shortfalls.
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