Record revenues for Lifeway
million (€3.03), an increase of 9 per cent on the same period last
year. The success continues the strong trend seen this year by the
functional foods manufacturer.
Lifeway Foods, maker of probiotic and functional foods for the US and Canadian markets, reported second quarter revenues of $3 million (€3.03), or an increase of 9 per cent, versus $2.75 million in the same quarter last year. Revenues for the first six months also rose 9 per cent to $5.89 million, up from revenues of $5.38 million for the same period a year ago.
Net income for the quarter was $351,656, an increase of 51 per cent on the second quarter last year. Six months net income was $799,214, versus $560,956, an increase of 42 per cent over the same period a year ago.
Julie Smolyansky, president and CEO, said: "Aggressive sales enabled Lifeway to break $3 million for the first time this quarter, continuing the strong trend we've seen this year. The take off our La Fruta drinkable yogurt, in particular to Hispanic markets, contributed to the quarter's success, as did our title sponsorship of the major Lifeway Bastille Day 5K Run/Walk & Block Party in Chicago."
She continued:"Our national marketing presence in combination with local marketing initiatives also made a strong impact on increasing sales of our Lifeway Kefir and Lifeway Farmers Cheese. We expect Lifeway in the second half of 2002 and beyond to continue to achieve higher levels of sales and earnings and set new milestones."
Smolyansky added that operating expenses decreased during the second quarter due to more streamlined operations implemented during the period.
Lifeway is America's leading supplier of the cultured dairy product kefir. It also produces a range of organic and soy products.
