Cigarette maker Reynolds American Inc. said its second-quarter profit fell almost 11 percent to $304 million, chiefly on charges related to a legal case. Excluding those charges, its earnings rose 2 percent as higher prices and smokeless tobacco gains offset cigarette volume declines.
FEWER CIGARETTES: The nation's second-biggest tobacco company and maker of Camel, Pall Mall and Natural American Spirit cigarettes said it sold 4.4 percent fewer cigarettes than last year's quarter.
PALL MALL, GRIZZLY GAINS: It sold 15 percent more of its Pall Mall cigarettes. It also sold 4.7 percent more of its Grizzly smokeless tobacco.
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