Marlboro maker Altria 4Q profit up 32 percent

RICHMOND, Va. (AP) ? Marlboro maker Altria says its fourth-quarter profit rose about 32 percent as it commanded higher prices for cigarette and smokeless tobacco.

The owner of the nation's biggest cigarette maker, Philip Morris USA, on Thursday reported net income of $1.1 billion, or 55 cents per share, for the period ended Dec. 31. That's up from $836 million, or 41 cents a share, a year earlier. The results beat Wall Street expectations by a penny.

Revenue, excluding excise taxes, rose 3 percent to $4.46 billion. Analysts expected $4.35 billion.

Altria Group Inc., based in Richmond, Va., said cigarette volumes grew less than 1 percent, bolstered by top-selling Marlboro and discount brands like L&M. Volumes for its smokeless tobacco products rose nearly 10 percent and cigar volumes fell less than 1 percent.

Associated Press

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