Posted AT 8:21 AM EST on 12/08/08
Smuggling fines erase Rothmans profit
Fines and other expenses associated with Rothmans Inc.'s recent admission that it had engaged in cigarette smuggling helped send the tobacco company's first-quarter financial results up in smoke.
The Toronto company said Tuesday that it lost $35.4-million or $5.20 a share in the three months ended June 30, compared with a profit of $33.8-million or 50 cents a share. Revenue was $178.7-million, compared with 180.1-million.
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