Summary Box: Cigarette maker Lorillard’s 2Q net income falls on lower volumes, higher costs

Summary Box: Lorillard 2Q profit falls

SECOND QUARTER: Lorillard Inc., the nation’s third-biggest cigarette maker, said lower volumes and higher promotional costs drove its net income down 8 percent to $263 million. Revenue excluding excise taxes edged up to $1.04 billion.

CIGARETTE SALES: Fell less than 1 percent to 9.78 billion cigarettes compared with a year earlier when retailers and wholesalers restocked following cuts in preparation for a one-time federal tax on inventory.

BY BRAND: Volumes for the Maverick value brand increased 26.5 percent. But shipments of its Newport menthol brand fell 3.4 percent.