US: Lifeway swings to Q4 profit

By: just-food.com | 1 April 2010

Lifeway Foods said that it returned to profit in the fourth quarter of the year thanks to a jump in sales during the period.

The kefir maker said that earnings rose to US$119,593, up from a loss of $742,965 booked during the comparable period of last year.

Revenue gained 37%, climbing to $14.5m. The US firm said that sales were propelled by higher sales of its flagship kefir dairy drink as well as a contribution of $2.2m from Made Dairy, which is acquired in February.

Full-year net income totalled $5.6m, or 33 cents per share, compared with $1.9m, or 11 cents per share, the year before.

Revenue for the year climbed 31% to $58.1m from $44.5m.