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Articles 

Lifeway Foods Inc. Reports Operating Results (10-Q)

May 17, 2010 | About:

Lifeway Foods Inc. (NASDAQ:LWAY) filed Quarterly Report for the period ended 2010-03-31.

Lifeway Foods Inc. has a market cap of $183.19 million; its shares were traded at around $10.92 with a P/E ratio of 33.09 and P/S ratio of 3.15. Lifeway Foods Inc. had an annual average earning growth of 20.8% over the past 10 years. GuruFocus rated Lifeway Foods Inc. the business predictability rank of 4.5-star.

Highlight of Business Operations:

Total other expenses for the first quarter of 2010 were $69,458 compared with total expenses of $232,615 during the same period in 2009. This decrease in total other expenses is primarily attributable to a higher realized loss on the sale of investments during the first quarter 2009 compared to the same period in 2010. Additionally, interest expense decreased by $58,441 to $95,941 during the first quarter of 2010 from $154,383 during the same period in 2009. Investments are discussed in Note 5 of the Notes to Consolidated Financial Statements.

Total net income was $1,768,689 or $.11 per share for the three month period ended March 31, 2010 compared to $1,547,466 or $.09 per share in the same period in 2009. This represents a 14% increase in net income for the first quarter of 2010 compared to the same period in 2009.

Total assets were $52,935,588 as of March 31, 2010, which is an increase of $1,465,745 when compared to December 31, 2009, and an increase of $4,108,377 when compared to March 31, 2009. This is primarily due to the increase in the value of the Company s property, plant and equipment to $14,481,822 as of March 31, 2010, which is an increase of $757,899 from March 31, 2009.

Total current liabilities were $9,020,702 as of March 31, 2010, which is an increase of $457,067 when compared to December 31, 2009. This is primarily due a $352,627 increase in accounts payable during the first quarter 2010. Total current liabilities decreased by $1,239,781 when compared to March 31, 2009. This is primarily due the Company s repayment of current notes payables of $2,248,647.

Long term notes payables decreased by $387,992 as of March 31, 2010, when compared to December 31, 2009 and decreased by $1,874,167 when compared to March 31, 2009. The balance of the long term notes payable as of March 31, 2010 was $6,502,222.

Total stockholder s equity was $34,094,391 as of March 31, 2010, which is an increase of $1,523,061 when compared to December 31, 2009. This is primarily due the increase in retained earnings of $1,768,689 when compared to December 31, 2009. Total stockholder s equity increased by $5,667,111 when compared to March 31, 2009. This is primarily due the increase in retained earnings by $5,790,925 as of March 31, 2010, when compared to March 31, 2009.

Read the The complete Report

About the author:

10qk
Charlie Tian, Ph.D. - Founder of GuruFocus. You can now order his book Invest Like a Guru on Amazon.

Rating: 3.5/5 (6 votes)

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