Kefir producer Lifeway Foods has announced results for the fourth quarter and full year ended December 31, 2012. Net sales increased 24% to $20.8 million for the quarter, and net sales increased 16% to $81.4 million for the year. Gross profit increased 86% from the fourth quarter 2012 when compared to the same period in 2011, and 29% for 2012 when compared to 2011. Gross profit margin increased to 33% for the fourth quarter 2012, from 22% in 2011, and to 34% for the year, from 30% in 2011.
The company reported record earnings per diluted share of $0.07 for the quarter, and record earnings per diluted share of $0.34 for the year.
“In 2012, we continued to execute on our strategic goals as we increased awareness and distribution of Lifeway’s kefir products to report record sales and earnings results,” said Julie Smolyansky, CEO of Lifeway Foods. “We are confident about our future growth and we expect 2013 to be another year of strong sales and profitability as new and existing consumers choose Lifeway Foods as a provider of wholesome, nutritious kefir products for themselves and their families. Additionally, we expect gross revenues for our first quarter 2013, which ended March 29, 2013, to be approximately 30% higher when compared to the same period in 2012, and we expect to continue this momentum throughout the year.”
The company attributes the increase in fourth quarter sales to increased sales and awareness of the company’s flagship line, Kefir, as well as ProBugs Organic Kefir for kids and BioKefir.
