Lifeway Foods (LWAY) Reports 37% Jump in Q3 Revenue

October 5, 2009 9:08 AM EDT

Lifeway Foods (Nasdaq: LWAY) announced today that Q3 total consolidated sales increased 37% to $15.375 million from $11.24 million during the same period a year ago. The Street was looking for quarterly sales of $14.99 million. The company's existing lines grew 17% to approximately $13.175 million and the recently acquired Freshmade Dairy recorded revenues of approximately $2.2 million during Q309.

Julie Smolyansky, CEO, commented "We are extremely pleased at the record results of our third quarter 2009. We are particularly encouraged that the growth of our existing brands was almost entirely same store, organic growth. The awareness of our Kefir continues to grow everyday, and we are confident our 3rd quarter momentum will continue into the 4th quarter as we will be rolling out several new products, and expanding into new distribution channels such as convenience stores. In particular, next week we will begin shipments of our special holiday inspired Kefir, Cranberry Creme Brule to retailers throughout the nation. This special holiday flavor, which will only be available for a limited time, marks the first time Lifeway has ever introduced a limited production run flavor for the holiday season."

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