Lifeway Foods income up 14% in quarter

by Staff
Share This:

MORTON GROVE, ILL. — Income for Lifeway Foods, a manufacturer of kefir, cheese and lassi, was up 14% during the third quarter.

For the quarter ended Sept. 30, the company had an income of $1,030,041, equal to 6c per share on the common stock, which compared with an income of $904,837, equal to 5c per share, during the same quarter of the previous year. Net sales were $17,701,604, up 21% compared with $14,593,017 during the same quarter of the previous year.

“We are very pleased with our ability to continue to grow our sales and profits despite facing record high input costs,” said Julie Smolyansky, chief executive officer. “In the quarter, we further increased our retail distribution and we believe we have the right Kefir product assortment to further expand our customer reach and increase market share long-term.”

For the nine months ended Sept. 30, the company had an income of $3,221,354, equal to 20c per share, down 17% from $3,858,029, equal to 23c per share, during the same period of the previous year. Net sales were $53,203,425 up 22% from $43,767,523 during the same period of the previous year.

Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.








The views expressed in the comments section of Food Business News do not reflect those of Food Business News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.