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Lifeway Foods Inc. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: August 15, 2011 02:49PM

Lifeway Foods Inc. (LWAY) filed Quarterly Report for the period ended 2011-06-30. Lifeway Foods Inc. has a market cap of $174.57 million; its shares were traded at around $10.61 with a P/E ratio of 46.17 and P/S ratio of 2.75. Lifeway Foods Inc. had an annual average earning growth of 17.9% over the past 10 years. GuruFocus rated Lifeway Foods Inc. the business predictability rank of 4.5-star.



Highlight of Business Operations:

Operating expenses as a percentage of net sales were approximately 25% during the second quarter of 2011 compared to approximately 24% during the same period in 2010. This increase was primarily attributable to increased selling expenses as compared to the same period in 2010. Selling related expenses increased by $1,048,621, (approximately 60%) to $2,790,507 during the second quarter of 2011, from $1,741,886 during the same period in 2010. This increase is directly attributable to the company recording an approximate $700,000 expense related its 25th Anniversary Cross Country Mobile tour, which occurred in the second quarter and was expensed during the second quarter. The Company views this as a non-recurring advertising expense.

Operating expenses as a percentage of net sales were approximately 24% during the six -month period ended June 30, 2011 compared to approximately 24% during the same period in 2010. Selling related expenses increased by $1,275,582, (approximately 34%) to $5,012,315 during the six-month period ended June 30, 2011, from $3,736,733 during the same period in 2010. This increase is directly attributable to the company recording an approximate $700,000 expense related its 25th Anniversary Cross Country Mobile tour, which occurred in the second quarter of 2011 and was expensed during the second quarter of 2011. The Company views this as a non-recurring advertising expense.

Net cash used in investing activities was $847,307 during the six months ended June 30, 2011 which is an increase of $620,983 compared to the same period in 2010. This increase is primarily due to a decrease in proceeds from sale of investments of $970,084 compared to 2010. The Company also repurchased 105,848 shares of its common stock at a cost of $971,798 during the six-month period ending June 30, 2011.

Total assets were $52,889,349 as of June 30, 2011, which is an increase of $830,618 when compared to December 31, 2010, and an increase of $427,729 when compared to June 30, 2010. This is primarily due to an increase in cash and cash equivalents of $540,033 as of June 30, 2011, when compared with June 30, 2010.

Total current liabilities were $8,706,467 as of June 30, 2011, which is a decrease of $179,293 when compared to December 31, 2010. Total current liabilities increased by $32,108 when compared to June 30, 2010. This is primarily due a $2,539,831 decrease in current maturities of notes payable partially offset by a $1,915,599 increase in accounts payable as of June 30, 2011, when compared to June 30, 2010.

Total stockholder s equity was $34,895,550 as of June 30, 2011, which is an increase of $1,246,532 when compared to December 31, 2010. This is primarily due the increase in retained earnings of $2,191,313 when compared to December 31, 2010. Total stockholder s equity increased by $768,864 when compared to June 30, 2010. This is primarily due the increase in retained earnings by $2,860,586 as of June 30, 2011, when compared to June 30, 2010.

Read the The complete Report



Stocks Discussed: LWAY,
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