Lorillard Reports First Quarter 2011 Results

Lorillard LO announced today results for the quarter ended March 31, 2011. Net sales increased 12.9% to $1.535 billion from last year's first quarter. First quarter 2011 domestic wholesale shipments increased 9.4% versus last year compared to a 3.4% decline in industry domestic wholesale shipments. Total Lorillard retail market share for the first quarter 2011 increased 1.5 percentage points versus last year to 14.1%. Total Newport retail market share for the first quarter 2011 increased 1.1 percentage points versus last year to 12.0%. First quarter 2011 earnings per diluted share increased 14% versus last year to $1.71. Lorillard repurchased 3.8 million shares during the quarter at a cost of $289 million.