Lorillard's Shipments up

Source from:  tr.itsmyiq.com Jul 31, 2007 08/01/2007

Lorillard shipped 17,860,713 cigarettes domestically during the six months to the end of June, 1.4 per cent more than it shipped during the six months to the end of June 2006. Shipments of full-price brands were up 1.2 per cent to 16,927,639, while those of price/value brands rose by 4.7 per cent to 933,074. Shipments to Puerto Rico and US possessions, meanwhile, rose by 6.8 per cent to 402,744. Domestic shipments during the three months to the end of June, at 9,473,461, were up by 3.6 per cent on those of the second quarter of 2006, with shipments of full-price brands up 3.5 per cent to 8,967,457, and shipments of price/value brands up 6.1 per cent to 506,004. Shipments to Puerto Rico and US possessions rose by 0.3 per cent to 212,652. Loews Corp yesterday reported consolidated net income (including both the Loews Group and Carolina Group [CG]) for the 2007 second quarter of $653.4 million, compared to $568.7 million during the 2006 second quarter. Consolidated net income for the six months ended June 30 was $1,421.7 million, up from $1,109.7 million during the six months period to the end of June last year. CG's (principally, Lorillard's) net income for the 2007 second quarter of $227.1 million was up from $187.2 million during the second quarter of last year. The increase in net income was reported to have been primarily due to higher effective unit prices resulting from a December 2006 price increase, an increase in unit sales volume and lower sales promotion expenses (accounted for as a reduction to net sales), partially offset by an increase in expenses for the state settlement agreements. Net sales for CG were $1,055.4 million during the second quarter of 2007, up from $977.3 million during the second quarter of last year. CG's net income for the first half of 2007 was $415.8 million, compared to $337.3 million during the 2006 first half. And CG's net sales were $1.968 billion during the first half of this year, up from $1.832 billion during the first half of 2006. Enditem