Vector Group Q4 income down South Florida Business Journal

Source from:  www.bizjournals.com 03/04/2009

Miami-based Vector Group Ltd. said revenue for the year ended Dec. 31 was $565.2 million, up slightly from the $555.4 million reported for 2007. The country's fifth-largest cigarette company (NYSE: VGR) reported net income for of $60.5 million, or 80 cents a share, for the year, down from net income of $73.8 million, or $1.07 a share, for 2007. The results for 2008 included $12.6 million in pretax income from the Miami-based company's investment in the St. Regis hotel, which was sold in March 2008. Fourth quarter 2008 revenue was $144.4 million, basically flat with the $145.1 million reported in the fourth quarter 2007. Fourth quarter net income was $12.2 million, or 9 cents a share, down from net income of $14.2 million, or 21 cents a share, in the 2007 fourth quarter. For the three months and year ended Dec. 31, the company's conventional cigarette business, which includes Liggett Group cigarettes and USA brand cigarettes, had revenue of $143.8 million and $562.7 million, respectively, down slightly from $144.4 million and $551.7 million for the three months and year ended 2007, respectively. Shares were down 50 cents to $11.11 in morning trading. The 52-week high was $19.45 on Sept. 19. The 52-week low was $10.82 on Oct. 10. Enditem