Lifeway Foods announces Q4 & full year 2020 results
Lifeway Foods Inc, leading US supplier of kefir and fermented probiotic products to support the microbiome, has reported its financial results for the fourth quarter and full year ended 31 December 2020.
“I am very pleased to report another exciting and strong year of growth here at Lifeway, particularly in light of this difficult year defined by the Covid-19 pandemic,” commented Julie Smolyansky, CEO and president of Lifeway. “Of note, our net sales grew 8.9% to $102.0 million compared to 2019, and our net income increased from $0.5 million in 2019 to $3.2 million in 2020. The food retail environment has been majorly reshaped this year, and our decision to focus on digital engagement has paid dividends in continuing to attract more and more consumers to our multi-serve, immune supporting products.
“I am very encouraged by the ongoing market trends towards healthy products like Lifeway’s, and I believe this momentum will carry on far past just 2021. Our current retail partnerships are seeing gains, illustrated by our strong results, as we continue to enhance category growth, and we plan on both expanding the current and identifying new profitable relationships in the year ahead. Finally, this year we will continue to invest in customer acquisition strategies because we want more and more people to hear the Lifeway story. We are looking forward to an outstanding 2021.”