Nutritional science for mind health products
DSM Nutritional Products
Maker of probiotic and functional foods Lifeway Foods announced a strong boost in revenues for the third quarter and first nine months of the year, attributing the results to a 'vigorous yet cost effective' marketing initiative undertaken earlier in the year.
Revenues for the third quarter rose by 16 per cent, to $3.07 million up from $2.7 million in the same period last year. In the first nine months of the year revenues increased 11 per cent to $8.9 million.
Net income increased by $291,509 to $531,359 for the three-month period ended September 30, 2002, and by 66 per cent to $1.3 million for the nine-month period ended September 30, 2002.
"We are extremely pleased with our third quarter financial results. We were able to shield ourselves from the rising prices of production supplies, and were also successful in cutting costs across a wide range. These factors along with our strong sales growth really showed in our bottom line results," said Julie Smolyansky, president and CEO of Lifeway Foods.
Lifeway is a leading supplier of the cultured dairy product kefir. Brands include Lifeway Organic, Organic Kefir and Kefir Cheese, and a soy kefir called SoyTreat.