Published on .

(July 19, 2001) -- R.J. Reynolds Tobacco Holdings today reported an 8.5% increase in net income for the second quarter to $127 million from $117 million in the year earlier period. Revenue for the quarter was up 10% to $2.27 billion vs. $2.06 billion a year ago.

The parent company of R.J. Reynolds Tobacco Co., the country's second-largest tobacco marketer, said in a statement that the combined market share of its four key cigarette brands -- Camel, Winston, Salem and Doral -- increased during the quarter over the same three months in 2000.

Its discount brand, Doral, however, the leader in the low-priced segment, experienced a share decline due to increased price competition from smaller cigarette manufacturers.

The company's tobacco volume also decreased for the second quarter by 2% to 24.1 billion units, in keeping with industry-wide shipment drops of 1.7%. -- Cara Beardi

Copyright July 2001, Crain Communications Inc.

Most Popular
In this article: