Lifeway Foods, which produces the cultured dairy product kefir, has reported that its gross profit increased by 23% in the third quarter, while operating income was up 22%, but the company did not publish figures.
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The company said the results exclude any contribution from Helios Nutrition, which was acquired by Lifeway in August.
Gross profit for the nine-month period was up by 27%, with operating income rising by 30%.
Lifeway had previously reported that sales for the quarter had risen by 26% to $6.56m. For the nine-month period, sales rose by 27% to $18.93m.
“The third quarter was a milestone quarter for us, and it continues to be a very exciting time for Lifeway Foods,” said CEO Julie Smolyansky. “We had our second stock split, acquired our top competitor, Helios Nutrition, and the awareness and acceptance of our products continue to be at an all time high.”
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