R.J. Reynolds Tobacco Holdings Inc., the second-biggest U.S. cigarette maker, had a first-quarter loss because of a decline in the value of some trademarks acquired during its leveraged buyout.
The loss of $335 million, or $3.58 a share, contrasted with net income of $100 million, or 98 cents, a year earlier, the maker of Camel and Winston cigarettes said. Write-downs for the trademarks because of an accounting change boosted expenses by $502 million, or $5.37 a share. Revenue increased 4% to $1.52 billion.
