Tobacco Documents Online

PM-U.S.A. Morning Newsbriefs; 07/12/94 (c) Copyright 1994 INFORMATiON, INC. This service may be reproduced for internal distribution. HEADLINE SUMMARIES: "Philip Morris Reports Second Quarter Results" "Weld Signs Cigarette Law Authorizing Massachusetts to Sue N ® Cigarette Makers for Smoking-Related Medicaid Costs" "Teamsters Say They Won't Attend Philip Morris Meeting" c.n 0 ~ "Florida Judge Refuses to Delay or Dismiss Sui't by Smokers" ~ "Joe Camel on Trial" ® "Two B.A.T. Affiliates Have Ratings Lowered" ~ "S&P Affirms Dibrell Brothers Ratings" "Standard Commercial Cut to 'Hold' by Prudential" "Unlucky Strikes" "Baseball-Dental Group Urges Tobacco Ban by Players" "Executive Suite: Michael Miles--Unemployed and Loving It" "Letters to the Editor: Insidious Smoke" "Obituary--Reynolds" "U.K. Eyes TV Ban on Tobacco-Sponsored Sports" "Japan Tobacco Offering May Test the Tokyo Market" "Philip Morris Reports Second Quarter Results" Highlights of Philip Morris Press Release (7/12194) and 1994 Business Wire (7/12/94) Philip Morris this morning reported second quarter 1994 results, as follows: net earnings up 17.6%; net earnings per share up 19.3%, to $1.42 per share; Operating Companies income up 14.0%; Operating Companies revenues up 4.0%. Highlights of the report: --Philip Morris Companies Inc. posted solid gains in operating companies income, net earnings and net earnings per share in the second quarter. --Results were driven by the strong performance of the company's worldwide tobacco business. Good results from North American food and beer also contributed to the solid quarter. N ® N er 2 billion were u 17 6% and net earnings --Net earnin s of $1 ® p . p g . ~ share of $1.42 per share were up 19.3% from last year's 2nd quarter. ~ ® --Operating companies income rose 14.0% to $2.7 billion on w ~ , , revenues of $16.4 billion, 4.0% higher than the year-earlier period. N ~ i