Lorillard (LO) Misses Q1 EPS Views; to Acquire blu ecigs
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Lorillard (NYSE: LO) reported Q1 EPS of $1.74, $0.25 worse than the analyst estimate of $1.99. Revenue for the quarter came in at $1.53 billion versus the consensus estimate of $1.2 billion.
Lorillard announced today that it has acquired all of the assets of blu ecigs, a U.S. electronic cigarette (e-cigarette) company for $135 million in cash. The acquisition provides Lorillard with the leading brand, offering the best consumer experience and unique social networking features, in the rapidly growing e-cigarette category.
blu ecigs is the best-selling e-cigarette brand, with the look and feel of traditional cigarettes – without the tobacco smoke, ash, or smell. blu ecigs is the market leader in providing innovative technology for an improved consumer experience that enhances the enjoyment and social aspect of e-cigarettes. blu ecigs will be a separate operating company of Lorillard and it is Lorillard's intention to retain blu ecigs' current management team and its headquarters in Charlotte, NC.
For earnings history and earnings-related data on Lorillard (LO) click here.
Lorillard announced today that it has acquired all of the assets of blu ecigs, a U.S. electronic cigarette (e-cigarette) company for $135 million in cash. The acquisition provides Lorillard with the leading brand, offering the best consumer experience and unique social networking features, in the rapidly growing e-cigarette category.
blu ecigs is the best-selling e-cigarette brand, with the look and feel of traditional cigarettes – without the tobacco smoke, ash, or smell. blu ecigs is the market leader in providing innovative technology for an improved consumer experience that enhances the enjoyment and social aspect of e-cigarettes. blu ecigs will be a separate operating company of Lorillard and it is Lorillard's intention to retain blu ecigs' current management team and its headquarters in Charlotte, NC.
For earnings history and earnings-related data on Lorillard (LO) click here.
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