Vector Group Reports Q1 Profit Of $0.03 Per Share - Quick Facts

(RTTNews) - Vector Group Ltd. (VGR) reported first-quarter net income to company of $2.6 million, or $0.03 per share, compared to net loss of $1.7 million, or $0.02 per share, prior year. Pro-forma adjusted net income was $14.6 million or $0.15 per share, compared to $11.1 million or $0.12 per share for the three months ended March 31, 2013.

Revenues were $347.2 million, compared to $246.2 million, prior year. The company said the increase in revenues was primarily due to the acquisition of Douglas Elliman and was partially offset by a decline in revenues in the company's tobacco business.

Pro-forma adjusted revenues were $348.9 million compared to $320.7 million in 2013. The company said the increase was primarily due to an increase in real estate revenues at Douglas Elliman and was partially offset by a decline in revenues in the company's tobacco business.