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Lifeway Foods Inc., Morton Grove, Ill., released its preliminary sales results for the fourth quarter and full year that ended Dec. 31, 2013.
In the fourth quarter of 2013, gross sales increased approximately 26 percent to $28.8 million, compared with $22.9 million in the prior-year period.
Full-year 2013 gross sales increased approximately 21 percent to $108.2 million, compared with $89.8 million in 2012. These increases are primarily attributable to increased sales and awareness of Lifeway Foods’ flagship Kefir line as well as its ProBugs Organic Kefir for kids and BioKefir products, the company says.
Total consolidated net sales increased approximately 25 percent to $26.3 million during the fourth quarter, compared with $21 million in the prior-year period. Full-year 2013 net sales increased 20 percent to $97.6 million, compared with $81.4 million in 2012. Net sales are recorded as gross sales less promotional activities, such as slotting fees paid, couponing, spoilage and promotional allowances, as well as early payment terms given to customers.
"We are extremely pleased with another year of record sales growth," said Julie Smolyansky, chief executive officer of Lifeway Foods, in a statement. "Distribution of Lifeway's kefir products continues to grow in new and existing markets, and we believe the strategic investments made in 2013 will enable us to further increase our capacity to meet the strong demand for kefir in 2014 and beyond."
The company will report its full financial results for the fourth quarter and full year ended Dec. 31, 2013, in late March or early April 2014.