Electronic Cigarettes International Group, Ltd. Announced earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported adjusted revenue of $15.7 million, compared with $0.6 million in the fourth quarter of 2013. Total revenue of $12.1 million compared with $0.6 million in the fourth quarter of 2013. GAAP net loss was $336.2 million for the fourth quarter ended December 31, 2014, including impairment charges of $144.4 million which is primarily related to FIN and VAPESTICK business units.

For the full year, the company reported adjusted revenue of $46.9 million, compared with $3.1 million in 2013. Total revenue of $43.5 million compared with $3.1 million in 2013. GAAP net loss was $381.6 million for the full year ended December 31, 2014. The net loss includes a goodwill impairment charge of $144.4 million related to the FIN and Vapestick reporting units. The increase in revenue was driven by growth in online sales to new and recurring customers, along with sales to retail and wholesale sources, as a result of an increase in distributors and in marketing efforts throughout 2014.