Star Scientific Trims 3Q Loss Despite Lower Sales

Source from:  AP 11/11/2010

Star Scientific Inc., which sells dissolvable smokeless tobacco, reported a narrower third-quarter loss Wednesday, saying it spent less money on promotions. The company posted a loss of $4.8 million, or 4 cents a share, compared with a loss of $4.9 million, or 5 cents a share, in the third quarter of 2009. It said revenue slipped 9.1 percent to $211,000 from $232,000. Star Scientific said it raised prices on its Ariva and Stonewall dissolvable smokeless tobaccos, but its sales volume decreased. The company also started selling CigRx, a dietary supplement intended to reduce cigarette cravings, during the quarter. Shares of Star Scientific were unchanged at $1.81 in afternoon trading. Enditem