MORTON GROVE, Ill. — Lifeway Foods, Inc., a leading supplier of cultured dairy products known as kefir and organic kefir, announced record sales results for the second quarter ended June 30, 2011.
Second quarter of 2011 gross sales increased 29% to $20.0 million compared to $15.5 million for the second quarter of 2010. This increase is primarily attributable to increased sales and a growing awareness of the benefits of Lifeway's flagship line, Kefir, as well as ProBugs® Organic Kefir for kids, and the successful introduction of new product lines such as Bio Kefir™ and Frozen Kefir.
Julie Smolyansky, CEO of Lifeway Foods, Inc. commented, "We are extremely pleased with our sales results as our quarterly sales performance is the second consecutive record increase. The depth of our kefir dairy products continues to resonate well with consumers looking for good nutrition reflected in the low-fat, low-calorie, and probiotic properties of Lifeway's kefir products."
Smolyansky continued, "We have dramatically increased customer awareness of kefir and we are excited about our future growth opportunities. We continue to expect 2011 to be a year of record sales and profitability."
The Company does not plan to provide preliminary financial information in the future other than in unique circumstances, or in the event of a material event that requires disclosure. The Company expects to issue earnings results for the second quarter of 2011 the third week of August.
For more information about Lifeway Kefir, please visit http://www.lifewaykefir.com.
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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™. While most regular yogurt contains only two or three of these "friendly" cultures, Lifeway Kefir products offer greater nutritional benefits and support a healthier life. Lifeway produces various different flavors of its drinkable Kefir and Organic Kefir beverage, and recently introduced a series of innovative new products such as a children's line of Organic Kefir called ProBugs™ with a no-spill pouch and kid-friendly flavors like Goo Berry Pie and Strawnana Split. In addition to its line of Kefir products, the company produces a variety of probiotic cheese products. Lifeway also sells frozen kefir, kefir smoothies and kefir parfaits through its Starfruit™ retail stores.
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 Exchange Commission.
Source: Lifeway Foods, Inc.
