Lorillard posts 4Q profit of $327 million, result tops expectations

MarketsAssociated Press

Lorillard Inc. (LO) on Wednesday reported fourth-quarter net income of $327 million.

On a per-share basis, the Greensboro, North Carolina-based company said it had profit of 91 cents. Earnings, adjusted for one-time gains and costs, came to 93 cents per share.

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The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.

The tobacco company posted revenue of $1.28 billion in the period.

For the year, the company reported profit of $1.19 billion, or $3.28 per share. Revenue was reported as $5.05 billion.

Lorillard shares have increased roughly 7 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has increased 35 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap ) using data from Zacks Investment Research. Access a Zacks stock report on LO at http://www.zacks.com/ap/LO

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Keywords: Lorillard, Earnings Report