MIAMI (AP) _ Vector Group Ltd. (VGR) on Wednesday reported first-quarter net income of $32 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Miami-based company said it had net income of 20 cents. Earnings, adjusted for one-time gains and costs, were 29 cents per share.

The discount cigarette maker posted revenue of $543.8 million in the period.

Vector shares have climbed 13% since the beginning of the year. The stock has risen 26% in the last 12 months.

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