Universal Corporation Reports Six Month EPS of $2.65

Universal Corporation UVV announced that net income for the first half of fiscal year 2011, which ended on September 30, 2010, was $77.2 million, or $2.65 per diluted share. Results were lower than last year's net income of $96.3 million, or $3.23 per diluted share, as most regions saw declines from last year's strong performance. Those lower results reflected lower margins and volumes, which were in part due to delayed shipments. Revenues for the six months of about $1.2 billion were down about 5% on those lower volumes.