Vector Group Ltd. said its normalized net income for the first quarter amounted to 10 cents per share, compared with the S&P Capital IQ consensus estimate of 8 cents per share.
EPS climbed year over year from 3 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $13.3 million, a gain from $3.4 million in the prior-year period.
The normalized profit margin increased to 5.1% from 1.4% in the year-earlier period.
Total revenue rose 7.6% on an annual basis to $263.4 million from $244.8 million, and total operating expenses rose 9.0% year over year to $218.6 million from $200.6 million.
Reported net income increased year over year to $20.1 million, or 16 cents per share, from $3.0 million, or 2 cents per share.
