Vector Q3 earnings nearly double - South Florida Business Journal:

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The Miami-based cigarette and real estatre holding company said itearned $19.61 million, or 32 cent s a share, on revenue of $137.7 million for the thirdx quarter. For the same period the year Vector (NYSE: VGR) said it earned $10.04 or 21 cents a share, on revenue of $125 The company said it restatedits year-agoo results to correct an error in the way it computed the amortizatioh of the debt discount created by the embedded derivative and the beneficialk conversion feature associated with its 5 percent variable interest seniore convertible notes due 2011. The fancy financiak footwork uppedthe year-ago profit by or 2 cents a share. the same period saw a $5.
2 million special federal quota stock liquidation assessment undefr the federal tobaccobuyout legislation. By the most recent results got a boosr fromthe government: an $11.5 million decrease in reporter income tax expense, to a $3.55 milliojn gain from a $7.72 million expense. The reason for the expensr reduction: Vector's July settlement with the InternalRevenuee Service. As far as sales, Vectorr said its conventionalcigarette business, which includesw cigarettes and USA brand had revenue of $135.9 million for the third quarter, up from $122. 7 million for the same period theyear before. Shares closed up 3 centas to $17.20. The 52-week high was $19.62 on Nov. 15, 2005.
The 52-weeko low was $14.47 on June 28.