RJR Posts Profit, Lowers 2002 Outlook
Associated Press
R.J. Reynolds Tobacco Holdings Inc. said its third-quarter earnings were up, but the maker of Winston, Camel and Doral cigarettes lowered its earnings outlook for the year for the second time in as many months.
RJR posted earnings of $139 million, or $1.56 a share, up from $119 million, or $1.22 a share, a year ago. Sales declined 3% to $1.59 billion.
The company lowered its earnings outlook for 2002 to $6.05 to $6.40 a share.
Shares of RJR rose 37 cents to $42.90 on the NYSE.
