Lorillard (LO $107.72 -4.57) reported second quarter earnings of $2.05
per share, $0.03 better than the Capital IQ Consensus Estimate of $2.02.
Revenues rose 11.7% year/year to $1.16 billion versus the $1.15 billion
consensus.
The increase resulted from higher unit sales volume and higher average prices,
partially offset by higher sales promotion costs primarily driven by the
introduction of Newport Non-Menthol. Total Lorillard wholesale shipment volume
for Q2, which includes Puerto Rico and U.S. Possessions, increased 9.9% compared
to the second quarter of 2010 to 10.8 billion units.






