Lifeway Foods income up sharply in quarter

by Staff
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MORTON GROVE, ILL. — Higher sales and decreased costs boosted income at Lifeway Foods, Inc. during the second quarter. For the quarter ended June 30, the company had income of $2,049,128, equal to 13c on the common stock, which compared with income of $265,542, or 2c per share, during the same quarter of the previous year. Sales for the quarter were $22,713,958, up 14% from $19,913,003 during the same quarter of the previous year.

“We are extremely pleased with our record second-quarter financial performance,” said Julie Smolyansky, chief executive officer of Lifeway Foods, Inc. “Our higher net sales combined with the benefit from lower milk prices and tightly controlled expenses enabled us to report a quarterly earnings increase of 650%, the strongest in our company’s history.”

For the six months ended June 30, the company saw net income rise 43% to $3,144,116, or 19c per share, which compared with income of $2,191,313, or 13c per share, during the same period of the previous year. Sales for the period were $44,259,854, up 14% from $38,960,269 during the same period of the previous year.

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