Reynolds American Inc. RAI reported in-line earnings for the fourth quarter.
Reynolds American projects 2015 earnings of $3.65 to $3.80 per share, versus analysts' estimates of $3.71 per share.
The Winston-Salem, North Carolina-based company posted quarterly earnings of $148 million, or $0.28 per share, compared to $292 million, or $0.54 per share, in the year-ago period. Excluding items, the company's earnings rose to $0.87 per share from $0.77 per share.
Its revenue gained 4.7% to $2.13 billion. However, analysts were expecting earnings of $0.87 per share on revenue of $2.14 billion.
Cigarette shipments at its RJR Tobacco unit dropped 4.9% in the quarter.
Reynolds American shares fell 0.80% to close at $68.45 yesterday.
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