MORTON GROVE, Ill., Jan. 14, 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 fourth quarter ended December 31, 2012. 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.
Fourth quarter of 2012 gross sales increased approximately 23% to $23.0 million compared to $18.7 million in the same period last year. This increase is primarily attributable to increased sales and awareness of the Company's flagship line, Kefir, as well as ProBugs® Organic Kefir for kids and BioKefir™.
Total consolidated net sales increased approximately 23% or $3.8 million to $20.6 million during the three-month period ended December 31, 2012 from $16.8 million during the same three-month period in 2011. Net sales are recorded as gross sales less promotional activities such as slotting fees paid, couponing, spoilage and promotional allowances as well as early payment terms given to customers."We are extremely pleased with the strength of our sales results as distribution and brand awareness of Lifeway's Kefir products continues to grow rapidly," said Julie Smolyansky, CEO of Lifeway Foods, Inc. "The health and wellness benefits of kefir continue to resonate with today's increasingly health conscious focused consumers, and we believe Lifeway is well positioned for increased growth as the use of probiotics dramatically rises on global basis." The Company also began distribution to Walmart retail stores nation-wide the first week of January, 2013 with two of their most popular kefir flavors, including strawberry and blueberry in 32 ounce packages.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV