Altria Group says its fourth-quarter profit climbed 7 percent on strong sales of products like chewing tobacco as well as lower costs.
The owner of Philip Morris USA also anticipates adjusted 2010 earnings will be in range of Wall Street expectations, The Associated Press reported today.
Atria, based in Henrico County, said this morning that earnings were $725 million, or 35 cents per share, for the period ended Dec. 31.
Excluding one-time charges, profit was 39 cents per share.
Sales grew 29 percent to $6.01 billion from $4.65 billion, easily topping Wall Street expectations of $4.14 billion.
The company says smokeless products like Copenhagen and Skoal saw volumes increase, while cigarette sales dipped.
-- The Associated Press
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