Vector Group Reports Q4 EPs of $0.18

Vector Group Ltd. VGR today announced financial results for the fourth quarter and full year ended December 31, 2010. Fourth quarter 2010 revenues were $277.6 million, compared to revenues of $236.7 million in the fourth quarter 2009. Net income for the 2010 fourth quarter was $12.0 million, or $0.16 per diluted common share, compared to net income of $13.4 million, or $0.18 per diluted common share, in the 2009 fourth quarter. The results for the three months ended December 31, 2010 included a $1.8 million pre-tax settlement charge and $1.2 million of pre-tax charges from changes in fair value of derivatives embedded within convertible debt. Adjusting for these items, the Company's operating income for the 2010 fourth quarter would have been $31.1 million and the Company's net income for the 2010 fourth quarter would have been $13.9 million, or $0.18 per diluted common share.