Vector's Cigarette Revenues Up

Source from:  Tobaccoreporter.com Nov 13, 2008 11/14/2008

The Vector Group's conventional cigarette business, which includes Liggett Group cigarettes and USA brand cigarettes, recorded revenues of $144.8 million and $418.8 million respectively during the three and nine months periods ended September 30. This compares with $135.2 million and $407.3 million respectively for the three and nine months periods ended September 30, 2007. Operating income was $45.9 million for the third quarter of 2008 and $127.0 million for the first nine months of 2008, compared to $40.4 million and $113.4 million for the three and nine months ended September 30, 2007 respectively. Overall, the group's third quarter 2008 revenues reached $145.6 million, up from $136.1 million during the third quarter of 2007. Operating income during the third quarter of 2008, at $37.5 million, was up from $33.7 million during the third quarter of 2007. But net income for the third quarter of 2008, at $14.8 million, or $0.21 per diluted common share, was down from $15.1 million, or $0.22 per diluted common share. For the nine months ended September 30, 2008, group revenues, at $420.8 million, were up from $410.3 million during the first nine months of 2007. Operating income during the first nine months of 2008, at $99.9 million, was up from $88.6 million, while net income, at $48.3 million, or $0.70 per diluted common share, was down from $59.6 million, or $0.87 per diluted common share. Enditem