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Non-Tech : LIFEWAY FOODS (LWAY) -- Ignore unavailable to you. Want to Upgrade?

To: mark cox who wrote (114)	11/11/1997 3:28:00 PM
From: Market Tracker	Respond to of 352

Mark 3-Q earnings are out- Tuesday November 11, 2:46 pm Eastern Time Company Press Release SOURCE: Lifeway Foods, Inc. Lifeway Foods Reports Record Third Quarter Results Nine Months Earnings Exceed 1996's Total Earnings SKOKIE, Ill., Nov. 11 /PRNewswire/ -- Lifeway Foods, Inc. (Nasdaq: LWAY - news) today announced record sales for the third quarter and nine-months ended September 30, 1997. Sales for the quarter were $1,504,000, up from $1,374,000 for the third quarter 1996. For the nine months, sales were $4,392,000, up from $3,986,000 for the same period last year. Profits per share for the nine months were $0.17, a penny greater than profits per share the company reported for all of 1996. Michael Smolyansky, President and Chief Executive Officer, commented, ''We are very pleased with our record results. In addition, we have significantly strengthened our balance sheet, increasing our asset base during quarter the quarter by funding the entire $2 million cost for construction of our new 46,000 square foot plant and the acquisition and installation of new equipment for the plant through profits generated during the year and cash reserves.'' Smolyansky added, ''Looking ahead, the additional capacity the new plant provides will help us meet the rapidly growing demand for our current products and anticipated demand for new products developed with GalaGen, Inc. (Nasdaq: GGEN - news), scheduled for introduction in the popular functional food market in the fourth quarter.'' Lifeway is America's leading supplier of the fermented dairy beverage known as Kefir. The company markets 12 flavors of Kefir and also does a brisk business exporting Kefir to Russia. The company recently introduced the market's first non-fat Kefir and plans to launch a fat-free cream cheese substitute later this year. Lifeway also markets several varieties of drinkable yogurts, farmers cheese and fat-free farmers cheese, as well as a low-sodium, vegetable seasoning called Golden Zesta. This news release contains forward-looking statements. Investors are cautioned that actual results may differ materially from such forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, competitive pressures and other important factors detailed in the company's annual report on Form 10-K for fiscal 1996 filed with the Securities and Exchange Commission. MT ------------------------------------------------------------------------