Tobacco Documents Online

R.J. Reynolds Pos s . ard Period Profit Rise And Boosts Dividend WIHSTON-$ALEM, N.C.-R.3. Reynolds Industries Inc. reported that third quarter eandn~ g~ rose 9~3% to $203.5 million, or $t.87 bill~oR from ~2.~8 billion. For.the nine months, earnings increased 11% to ~590 million, or $5~41 a share, from ~.5 million, or $4.D a share, a year ear- ller. Revenue r6s~. 14~o to $8.62 billion frbm ~'.5 billion. The company increased Rs quarterly to l0 cents a share from $0 cent, payable Dec. ~ ~ Stock of record Nov. 10. Befere this in- crease; the company most recently had ra~ its dividend in December 19~0 to 60 ¢en~ a s~har~ ~rom 5~,5 cents. ' & ~ Sti~b't, ehnirm~ a~,¢hief five ,officer, said in a statement that the con~pany's energy and domestic tobacco businesses "continued to make significant contributions to the corporation's overall ~mgre~s despite the challenges posed by a d~cult economy." He said the company forsees a gain in earnings of "at least for the year. Third quarter earning~..from Aminoil b'g~ Inc.; Reynolds' energyunit, rose to ~o6.~ million from .$42.6 million a year be. fore. Aminoil sales rose 33% to $313.6 mil- lion h'om the year-earlier $235.'/ million. Reynolds attribated the increases to. high prices, increased natural gas production higher petroleum product volumes. Third quarter earnings for the company's domestic tobacco business were up 15% to $234.8 million from $203.7 a year earlier: sales rose 11'7o to $1.04 billion. Reynolds at- tributed the improvemeuts to the continued st~ng performance of its cigaret .brands and the introduction of More L~ghts t00s in early June. International tobacco sales rose to $523.? million, or 4%, from the $503.6 million a year earlier. Eanfings were ap 2% to $46.5 million from the year-earlier $44.5 million. The company said that unfavorable exchange rates a,~fected the international results. Del Monte, the only subsidiary to post an earnings decline during the third quarter year earlier, recorded a 30%-net income cline to $I.6,~ million from the $24.1 ndllion the year before, gales increased to n',~llion, up 11% from the year earlier million. Reynolds said the decline cam~ by lnm~e~sed co~ts for manafactur- hog, raw materials and ma~keting. geMand, the company's shipping unit, pes~ed an earnings increase of 467~. to $29.4 mi!liom up Irom $20.2 million a year earlier. l~venue increased In the thin quarter to $3~.'/million. up 8A%, Lvom the $2~.! mil- lion the yem" belore. The company said T!05280074