Reynolds American 1Q net income climbs

RICHMOND, Virginia (AP) — Reynolds American Inc.'s first-quarter net income surged as the cigarette maker benefited from strength in its Pall Mall and Camel brands and higher prices.

The second-biggest U.S. tobacco company said Thursday it earned $353 million, or 60 cents per share, for the period ended March 31, up from $82 million, or 14 cents per share, a year ago.

Last year's quarter also included 37 cents per share in charges related to settlements with the Canadian government.

Adjusted earnings rose to 59 cents per share from 56 cents per share. The results beat the 58 cents per share that analysts polled by FactSet expected.

Reynolds' first-quarter revenue …