Food and tobacco conglomerate RJR Nabisco Holdings...
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Food and tobacco conglomerate RJR Nabisco Holdings Co. said its net income rose 19.6% in the first quarter as onetime events boosted its latest results and depressed last year’s figures. Excluding special factors, earnings were off 8% from a year ago.
The New York-based firm reported net income of $195 million in the three months ended March 31, compared to $163 million a year earlier. After preferred dividends were paid, earnings rose to $162 million, or 12 cents a share, from $157 million, or 12 cents a share, in 1993.
Revenue fell 4.5% to $3.57 billion, from $3.74 billion in 1993.
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