Stock Alert: Vector Group Loses 10% As Earnings, Revenue Fall

(RTTNews) - Shares of Vector Group Ltd. (VGR) are losing more than 10 percent in the morning trade on Friday at $10.74, after the company reported a 49 percent drop in profit for the fourth quarter on lower revenues.

The stock has traded in a range of $8.21 to $14.42 in the past 52 weeks.

Friday, the company said that its fourth-quarter attributable net income was $10.7 million or $0.06 per share, down from $21.1 million or $0.13 per share in the year-ago period. Excluding items, adjusted earnings were $0.11 per share, compared to $0.20 per share in the previous-year quarter.

Total revenues for the quarter declined to $439.6 million from $445.9 million in the year-ago period.

Vector Group is a holding company for Liggett Group LLC, Vector Tobacco Inc., New Valley LLC, and Douglas Elliman Realty, LLC. The company operates in two segments, tobacco and real estate.