For Immediate Release
Lifeway Foods Named One of America’s Fastest-Growing Small Companies by FORTUNE Small Business Magazine
Morton Grove, Illinois, June 24, 2004 -- Lifeway Foods, Inc. (NASDAQ:
LWAY), the nation’s leading supplier of the cultured dairy beverage
kefir, has been named to the prestigious FSB 100 list of the
fastest-growing small public companies in the U.S. published this week
by FORTUNE Small Business magazine. Lifeway ranked 38th in the list,
which is online now at www.fsb.com.
The print edition of the July/August issue carrying the FSB 100 list
will feature Lifeway CEO Julie Smolyansky on the cover and will be
available on newsstands July 5. A profile of the company in both
editions notes that Lifeway’s earnings have grown 53% annually,
revenues have risen 17% per year, and the stock has returned 37%
annually since 2001.
Much of Lifeway’s growth has been generated by new products, including
a kefir beverage tailored to Hispanic tastes that is marketed under the
brand name La Fruta. This strategy will continue with the planned
introduction of a new low-carbohydrate kefir beverage that was
announced earlier this month. The new product will be available at
grocery stores in select markets nationwide in the third quarter this
year under the brand name “Slim6.”
The new FSB 100 represents FORTUNE Small Business’ fourth annual
ranking of the 100 fastest-growing small companies in America. To
compile the list, the publication asked financial research firm Zacks
to screen annual reports for public companies with annual revenue of
less than $200 million and a stock price of more than $1 (to eliminate
penny stocks). Within that group, companies were ranked based on
earnings growth, revenue growth, and stock performance over the past
three years.
Lifeway is a manufacturer of cultured, probiotic and functional food
products in the health food industry, and is America's leading supplier
of the cultured dairy product known as kefir. The Company markets 12
flavors of kefir and does a successful business exporting its products
to Canada. The Company also participates in the organic and soy markets
with Lifeway Organic™, Organic Kefir and Kefir Cheese, and America’s
first soy kefir called SoyTreat™.
For more information, contact Julie Smolyansky, President, Lifeway
Foods, Inc. at (847) 967-1010, e-mail at info@lifeway.net or visit
www.lifeway.net.
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 reports filed
with the Securities and Exchange Commission.
6431 W. Oakton
Morton Grove, IL 60053
847-967-1010
fax: 847-967-6558
