Lifeway Foods Announces Preliminary First Quarter Sales Results
First Quarter of 2013 Net Sales Increase 27% to $24.7 million
MORTON GROVE, Ill., April 17, 2013
MORTON GROVE, Ill., April 17, 2013 /PRNewswire/ --Lifeway Foods, Inc.,
(Nasdaq: LWAY),a leading supplier of cultured dairy products known as kefir
and organic kefir, today announced preliminary sales results for the first
quarter ended March 31, 2013.
First quarter of 2013 gross sales increased approximately 27% to $27.4 million
compared to $21.6 million in the same period last year. Total consolidated net
sales increased approximately 27% to $24.7 million during the three-month
period ended March 31, 2013 from $19.4 million during the same three-month
period in 2012. The record sales increase was due to new retail distribution
expansion, product additions and increased sales to existing retail customers.
"We are extremely pleased with our ability to start 2013 off strong with a
record sales performance in the first quarter," said Julie Smolyansky, CEO of
Lifeway Foods, Inc. "Our team has done an excellent job increasing
distribution of Lifeway's kefir products and building our brand awareness with
consumers seeking high-protein and low-fat foods with the benefit of probiotic
Lifeway will report full first quarter of 2013 financial results on Wednesday,
May 15, 2013 after market close. The Company will host a conference call to
discuss these results with additional comments and details at 4:30 p.m. ET.
The call will be broadcast live over the Internet hosted at the Investor
Relations section of Lifeway Foods' website at www.lifeway.net, and will be
archived online through May 29, 2013. In addition, listeners may dial
877-407-3982 in North America, and international listeners may dial
201-493-6780. Participants from the Company will be Julie Smolyansky,
President and Chief Executive Officer, and Edward Smolyansky, Chief Financial
Officer and Chief Operating Officer.
About Lifeway Foods
Lifeway Foods, Inc. (Nasdaq: LWAY), recently named one of Fortune Small
Business' Fastest Growing Companies for the fifth consecutive year, is
America's leading supplier of the cultured dairy products known as kefir and
organic kefir. Lifeway Kefir is a dairy beverage that contains 10 exclusive
live and active probiotic cultures plus ProBoost™. In addition to its line of
Kefir products, the company produces a variety of Frozen Kefir and probiotic
cheese products. Lifeway also sells frozen kefir, kefir smoothies and kefir
parfaits through its Starfruit™ retail stores.
Find Lifeway Foods, Inc. on Facebook: www.facebook.com/lifewaykefir
Follow Lifeway Foods on Twitter: http://twitter.com/lifeway_kefir
Forward Looking Statements
This news release contains forward-looking statements. Investors are cautioned
that actual results may differ materially from such forward-looking
statements. Forward-looking statements involve risks and uncertainties
including, but not limited to, competitive pressures and other important
factors detailed in the Company's reports filed with the Securities and
Lifeway Foods, Inc.
SOURCE Lifeway Foods, Inc.
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