Vector Group Ltd. said its fourth-quarter normalized net income was 24 cents per share, compared with the S&P Capital IQ consensus estimate of 16 cents per share.

EPS increased 61.0% year over year from 15 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $33.4 million, a gain of 85.5% from $18.0 million in the prior-year period.

The normalized profit margin rose to 11.0% from 6.0% in the year-earlier period.

Total revenue grew year over year to $309.7 million from $298.9 million, and total operating expenses fell from the prior-year period to $237.7 million from $247.4 million.

Reported net income decreased 26.5% from the prior-year period to $8.2 million, or 6 cents per share, from $11.2 million, or 9 cents per share.

For the year, the company's normalized net income totaled 74 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 58 cents.

EPS rose 96.1% from 37 cents in the prior year.

Normalized net income was $95.5 million, an increase from $44.7 million in the prior year.

Full-year total revenue increased 6.3% year over year to $1.22 billion from $1.15 billion, and total operating expenses rose year over year to $963.3 million from $920.4 million.

The company said reported net income increased 58.8% year over year to $57.7 million, or 44 cents per share, in the full year, from $36.3 million, or 30 cents per share.