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Reynolds American Inc. (RAI) has reported a 205.02 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $851 million, or $0.60 a share in the quarter, compared with $279 million, or $0.19 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $879 million, or $0.62 a share compared with $692 million or $0.48 a share, a year ago. Revenue during the quarter grew 4.32 percent to $3,186 million from $3,054 million in the previous year period. Gross margin for the quarter expanded 616 basis points over the previous year period to 61.96 percent. Total expenses were 53.36 percent of quarterly revenues, down from 77.41 percent for the same period last year. This has led to an improvement of 2405 basis points in operating margin to 46.64 percent.
Operating income for the quarter was $1,486 million, compared with $690 million in the previous year period.
However, the adjusted operating income for the quarter stood at $1,535 million compared to $1,257 million in the prior year period. At the same time, adjusted operating margin improved 702 basis points in the quarter to 48.18 percent from 41.16 percent in the last year period.
"I'm pleased to report that Reynolds American concluded another milestone year with strong growth in fourth-quarter earnings and margin," said Debra A. Crew, president and chief executive officer of RAI. "Our companies' continued delivery of excellent operating performance, including the impact of Newport's successful integration, allowed us to accelerate returns to our shareholders in 2016."
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