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Universal Profit Declines

Stock quotes in this article: UVV  

Tobacco outfit Universal(UVV Quote) said Tuesday that for its second quarter ended Sept. 30, earnings fell 88.3% from the year-ago period, hurt by a loss on sale of its non-tobacco business.

The Richmond, Va.-based company earned $3.1 million, or 9 cents a share, in the quarter, compared with $26.5 million, or $1.03 a share, a year ago. The company earned $28.3 million, or 92 cents a share from its continuing operations in the most recent quarter.

Second-quarter revenue rose 6.7% from a year ago to $629.7 million. ...

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