Quarterly Financial Results (Unaudited)

12 Months Ended

Dec. 31, 2016

QUARTERLY FINANCIAL RESULTS (UNAUDITED)

Unaudited quarterly data for the years ended December 31, 2016 and 2015 are as follows:



	December 31,		September 30,		June 30,		March 31,
	2016		2016		2016		2016
Revenues	$	412,772	$	459,104	$	438,273	$	380,800
Gross Profit	138,923		155,662		154,642		144,378
Operating income	30,754		69,364		70,720		62,159
Net income applicable to common shares attributed to Vector Group Ltd.	$	4,599	$	23,175	$	24,015	$	19,338
Per basic common share (1):
Net income applicable to common shares attributed to Vector Group Ltd.	$	0.04	$	0.18	$	0.19	$	0.15
Per diluted common share (1):
Net income applicable to common shares attributed to Vector Group Ltd.	$	0.04	$	0.18	$	0.19	$	0.15

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(1)	Per share computations include the impact of a 5% stock dividend paid on September 29, 2016. Quarterly basic and diluted net income per common share were computed independently for each quarter and do not necessarily total to the year to date basic and diluted net income per common share.



	December 31,		September 30,		June 30,		March 31,
	2015		2015		2015		2015
Revenues	$	430,330	$	449,934	$	416,173	$	360,760
Gross Profit	137,742		154,017		136,969		118,742
Operating income	31,032		69,367		55,803		43,718
Net income applicable to common shares attributed to Vector Group Ltd.	$	7,904	$	12,466	$	17,607	$	21,221
Per basic common share (1):
Net income applicable to common shares attributed to Vector Group Ltd.	$	0.06	$	0.10	$	0.14	$	0.17
Per diluted common share (1):
Net income applicable to common shares attributed to Vector Group Ltd.	$	0.06	$	0.10	$	0.14	$	0.17

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(1)	Per share computations include the impact of a 5% stock dividend paid on September 29, 2015. Quarterly basic and diluted net income per common share were computed independently for each quarter and do not necessarily total to the year to date basic and diluted net income per common share.