Lorillard 4Q profit falls, tops analysts views (AP)

GREENSBORO, N.C. – Lorillard says its fourth-quarter profit fell as the maker of Newport cigarettes faced higher manufacturing costs and other expenses.

The nation's third-largest cigarette company says its earnings dropped 6 percent to $242 million, or $1.52 per share. Analysts expected $1.53 per share.

Domestic wholesale cigarette shipments slipped 3.6 percent.

Sales climbed 27 percent to $1.38 billion. About $270 million of the growth was due to April's 62 cents-per-pack federal excise tax increase. Excluding excise taxes, sales rose 2.2 percent to $932 million.

Lorillard, based in Greensboro, N.C., saw Newport's domestic market share rise by 0.36 points to 10.28 percent.