0001518519-11-000019.txt : 20111202 0001518519-11-000019.hdr.sgml : 20111202 20111202114226 ACCESSION NUMBER: 0001518519-11-000019 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20111202 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20111202 DATE AS OF CHANGE: 20111202 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VECTOR GROUP LTD CENTRAL INDEX KEY: 0000059440 STANDARD INDUSTRIAL CLASSIFICATION: CIGARETTES [2111] IRS NUMBER: 650949535 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05759 FILM NUMBER: 111239225 BUSINESS ADDRESS: STREET 1: 100 S E SECOND ST CITY: MIAMI STATE: FL ZIP: 33131 BUSINESS PHONE: 3055798000 FORMER COMPANY: FORMER CONFORMED NAME: BROOKE GROUP LTD DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: LIGGETT GROUP INC DATE OF NAME CHANGE: 19900815 FORMER COMPANY: FORMER CONFORMED NAME: LIGGETT & MYERS INC DATE OF NAME CHANGE: 19760602 8-K 1 vgr-12022011x8ksfd.htm FORM 8-K VGR-12.02.2011-8K SFD


 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 2, 2011

VECTOR GROUP LTD.
(Exact Name of Registrant as Specified in Its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)

1-5759
 
65-0949535
(Commission File Number)
 
(I.R.S. Employer Identification No.)
 
 
 
100 S.E. Second Street, Miami, Florida
 
33131
(Address of Principal Executive Offices)
 
(Zip Code)

(305) 579-8000
(Registrant’s Telephone Number, Including Area Code)
(Not Applicable)
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
 
o
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
 
 
o
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
 
 
o
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 




Item 8.01. Other Events
On September 1, 2011, our Board of Directors declared a 5% stock dividend to stockholders of record as of September 20, 2011. The stock dividend was paid on September 29, 2011. We are filing updated Selected Financial Data to reflect the stock dividend.

Item 9.01. Condensed Consolidated Financial Statements and Exhibit

(c)
Exhibit.

Exhibit No.
 
Exhibit
99.1
 
Selected Financial Data adjusted to reflect 5% stock dividend paid September 29, 2011 to stockholders of record on September 20, 2011.






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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
VECTOR GROUP LTD.
 
 
 
By:
/s/ J. Bryant Kirkland III  
 
 
J. Bryant Kirkland III 
 
 
Vice President, Treasurer and Chief Financial Officer 
Date: December 2, 2011


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 EX-99.1 2 vgr-12022011xex991sfd.htm EX-99.1 VGR-12.02.2011-EX99.1 SFD


EXHIBIT 99.1
Selected Financial Data
The following table sets forth our summary condensed consolidated financial data for the periods presented below and our earnings per share as adjusted for the stock dividends described below. The summary condensed consolidated financial data as of September 30, 2011 have been derived from our unaudited condensed consolidated financial statements. Our unaudited condensed consolidated financial statements include only normal and recurring adjustments, necessary to state fairly the data included therein.
The per share amounts shown below have been retroactively adjusted to reflect the 5% stock dividend which was paid on September 29, 2011 to stockholders of record on September 20, 2011 (see note (3) below).
Our historical results are not necessarily indicative of the results of operations for future periods, and our results of operations for the nine-month period ended September 30, 2011 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2011. You should read the following summary condensed consolidated financial data in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our condensed consolidated financial statements and related notes included in our Current Report on Form 8-K filed on November 3, 2011 and in our Quarterly Report on Form 10-Q for the period ended September 30, 2011.

 
Year Ended December 31,
 
2010
 
2009
 
2008
 
2007
 
2006
Statement of Operations Data:
 
 
 
 
 
 
 
 
 
Revenue (1)
$
1,063,289

 
$
801,494

 
$
565,186

 
$
555,430

 
$
506,252

Income from continuing operations
85,570

 
28,537

 
94,572

 
126,603

 
68,480

Net income
54,084

 
24,806

 
60,504

 
73,803

 
42,712

Per basic common share (3)
 
 
 
 
 
 
 
 
 
Net income applicable to common shares
$
0.68

 
$
0.31

 
$
0.77

 
$
0.95

 
$
0.57

Per diluted common share (3)
 
 
 
 
 
 
 
 
 
Net income applicable to common shares
$
0.67

 
$
0.31

 
$
0.69

 
$
0.93

 
$
0.56

 
 
 
 
 
 
 
 
 
 
Cash distributions declared per common share (3)
$
1.47

 
$
1.40

 
$
1.33

 
$
1.27

 
$
1.21



 
September 30,
 
December 31,
 
December 31,
 
December 31,
 
December 31,
 
December 31,
 
2011
 
2010
 
2009
 
2008
 
2007
 
2006
Balance Sheet Data:
 
 
 
 
 
 
 
 
 
 
 
Current assets
$
559,399

 
$
526,763

 
$
389,208

 
$
355,283

 
$
395,626

 
$
303,156

Total assets
930,952

 
949,595

 
735,542

 
717,712

 
785,289

 
637,462

Current liabilities
306,816

 
226,872

 
149,008

 
296,159

 
109,337

 
168,786

Notes payable, embedded derivatives, long-term debt and other obligations, less current portion
541,789

 
647,064

 
487,936

 
287,546

 
378,760

 
198,777

Noncurrent employee benefits, deferred income taxes and other long-term liabilities
149,017

 
121,893

 
103,280

 
100,402

 
196,340

 
174,922

Stockholders' (deficiency) equity
(66,670
)
 
(46,234
)
 
(4,682
)
 
33,605

 
100,852

 
94,977

 
 
 
 
 
 
 
 
 
 
 
 



1


 
For the Three Months Ended
 
For the Nine Months Ended
 
September 30,
2011
 
September 30,
2010
 
June 30,
2011
 
June 30,
2010
 
March 30,
2011
 
March 30,
2010
 
September 30,
2011
 
September 30,
2010
Statement of Operations Data:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue (2)
$
288,995

 
$
295,124

 
$
291,180

 
$
268,460

 
$
260,378

 
$
222,087

 
$
840,553

 
$
785,671

Income (loss) from continuing operations
30,000

 
17,536

 
48,846

 
30,602

 
32,022

 
18,860

 
110,868

 
66,998

Net income
17,549

 
10,907

 
30,301

 
19,223

 
19,373

 
11,938

 
67,223

 
42,068

Per basic common share (3)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income applicable to common shares
$
0.22

 
$
0.14

 
$
0.38

 
$
0.24

 
$
0.24

 
$
0.15

 
$
0.84

 
$
0.53

Per diluted common share (3)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income applicable to common shares
$
0.21

 
$
0.14

 
$
0.34

 
$
0.18

 
$
0.24

 
$
0.13

 
$
0.82

 
$
0.52

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash distributions declared per common share (3)
$
0.38

 
$
0.36

 
$
0.38

 
$
0.36

 
$
0.38

 
$
0.36

 
$
1.14

 
$
1.09

______________________________ 
(1)
Revenues include excise taxes of $538,328, $377,771, $168,170, $176,269 and $174,339, respectively.
(2)
Revenues include excise taxes of $141,473, $150,413, $142,934, $135,217, $127,634, $111,193, $412,041 and $396,823, respectively.
(3)
Per share computations include the impact of 5% stock dividends on September 29, 2011, September 29, 2010, September 2009, September 29, 2008, September 28, 2007 and September 29, 2006.


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