Lorillard Inc. q2 2009 earnings..

Lorillard Inc. on Monday, JUly 27th reported second-quarter earnings of $286 million, or $1.71 per share, a 32 percent increase from the same period last year, when the Greensboro-based tobacco company posted earnings of $217 million, or $1.25 per share.

The company’s net sales were $1.52 billion during the second quarter, compared to $1.07 billion during the same period in 2008. About $304 million of that was a result of the April 1 federal 62-cent excise tax increase on cigarettes.

Lorillard said shipments of its flagship Newport brand decreased about 1.2 percent, but Newport was still able to increase its market share by about 0.44 percentage points, to 10.38 percent. Shipments of its value-priced brand, Maverick, rose about 68 percent.

Lorillard Inc. Q2 2009 Earnings Call Transcript.

More to come..

Reference: Lorillard earnings rise 32 percent, Triangle Business Journal, 7/27/2009.