UPDATE: Reynolds American Q4 Earnings Meet Estimates

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.