THE RESULTS: Lorillard Inc.'s net income increased 7 percent to $248 million, or $1.71 per share, in the first quarter as it sold more Newport and Maverick cigarettes at higher prices. Revenue excluding excises taxes increased 14 percent to $1.06 billion.
MORE CIGARETTES: The nation's third-biggest tobacco company said it sold 9.5 percent more cigarettes. Rivals Reynolds American Inc. and Altria Group Inc. both reported selling fewer cigarettes.
NEWPORT, MAVERICK GAINS: Lorillard sold 8 percent more of its Newport brand and saw an increase of about 23 percent for lower-priced brands such as Maverick and Old Gold.