Lifeway Foods reports Q4 preliminary consolidated net sales of US$26.3M, up 25% from year-ago period; 2013 net sales up 20% to US$97.6M
MORTON GROVE, Illinois
January 21, 2014
– Full Year 2013 Gross Sales Increase 21% to $108.2 Million
Full Year 2013 Net Sales Increase 20% to $97.6 Million
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 and full year ended December 31, 2013.
Fourth quarter of 2013 gross sales increased approximately 26% or $5.9 million to $28.8 million compared to $22.9 million in the same period last year. Full year 2013 gross sales increased approximately 21% to $108.2 million compared to $89.8 million 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 25% or $5.3 million to $26.3 million during the three-month period ended December 31, 2013 from $21.0 million during the same three-month period in 2012. Full year 2013 net sales increased 20% to $97.6 million compared to $81.4 million in 2012. 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 another year of record sales growth," said Julie Smolyansky, CEO of Lifeway Foods. "Distribution of Lifeway's kefir products continues to grow in new and existing markets, and we believe the strategic investments made in 2013 will enable us to further increase our capacity to meet the strong demand for kefir in 2014 and beyond."
The Company will report full financial results for the fourth quarter and full year ended December 31, 2013 in late March or early April 2014.
About Lifeway Foods
Lifeway Foods, Inc. (LWAY), recently named one of Fortune Small Business' Fastest Growing Companies for the sixth 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 YouTube: http://www.youtube.com/user/lifewaykefir.