Q4 2019 Vector Group Ltd Earnings Call Transcript
Welcome to Vector Group Ltd. Fourth Quarter and Full Year 2019 Earnings Conference Call. During this call, the terms adjusted operating income, adjusted net income, adjusted EBITDA and tobacco adjusted operating income will be used. These terms are non-GAAP financial measures and should be considered in addition to, but not as a substitute for, other measures of financial performance prepared in accordance with GAAP. Reconciliations to adjusted operating income, adjusted net income, adjusted EBITDA and tobacco adjusted operating income are contained in the company's earnings release which can be -- which has been posted to the Investor Relations section of the company's website located at www.vectorgroupltd.com.
Before the call begins, I would like to read the safe harbor statement. The statements made during the conference call that are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by
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