Lifeway Foods sales rise once more

MORTON GROVE - Lifeway Foods Inc., the leading U.S. supplier of kefir and fermented probiotic products, Monday said its net sales grew to $29.6 million in its fiscal year third quarter, an increase of 13.5% over the same period last year.

This is the eighth consecutive quarter of year-over-year net sales growth, the company said.

The net sales increase was primarily driven by higher volumes of Lifeway's branded drinkable kefir, and to a lesser extent the favorable impacts from the completed acquisition of GlenOaks Farms in the third quarter.

The company reported net income of $500,000 or 3 cents per basic and diluted common share for the third quarter ended Sept. 30.

We continue to feel excited and validated by the ongoing research around probiotics and their influence on gut health, mental health and immunity, all of which are especially important with the impact of COVID-19," said Julie Smolyansky, Lifeway's president and chief executive officer.