Source: Associated Press (ap.google.com) Author: Vinnee Tong Altria Group demonstrated its pricing power as interest in cigarettes dropped off further, and its CEO said Thursday that its buyout of smokeless tobacco maker UST positions it for long-term growth amid the widespread financial turmoil. The company's third-quarter profit fell 67 percent from a year ago, when results included the Philip Morris International business. But the maker of Marlboro, Parliament and Virginia Slims said earnings from continuing operations rose 15 percent and it confirmed its full-year profit forecast. "Because of the economic uncertainties we all face, Altria is taking steps now to continue adding value to shareholders over the long term," Chief Executive Michael Szymanczyk said. One of the ways Altria — owner of No. 1 U.S. cigarette maker Philip Morris USA — will expand is acquiring UST Inc., maker of Copenhagen and Skoal. But because of difficulties in the credit market, Szymanczyk said it had become more expensive to finance the acquisition. The deal passed antitrust review last month, and the company plans to schedule a special meeting in December to let shareholders vote on it. Szymanczyk expects the deal to close no later than the first week of January. Altria also reported net income of $867 million, or 42 cents per share, in the quarter that ended Sept. 30. That compares to $2.63 billion, or $1.24 per share, a year earlier. Richmond, Va.-based Altria, which spun off the international business in March, said revenue rose 5 percent to $5.24 billion. [...]