Lifeway Foods Announces New 100,000 Share Buyback Program
November 26 2008 - 12:34PM
PR Newswire (US)
MORTON GROVE, Ill., Nov. 26 /PRNewswire-FirstCall/ -- Lifeway
Foods, Inc., (NASDAQ:LWAY), makers of a nutritious, probiotic dairy
beverage called Kefir, announced today Lifeway's Board of Directors
approved a new share repurchase program of up to 100,000 shares.
Under such a program, Lifeway Foods may repurchase up to 100,000
shares of the Company's Common Stock through the open market within
a period of one year from the date of the first purchase. The
Company will use its available cash resources to fund the stock
repurchase program. Julie Smolyansky, Lifeway's CEO, commented, "We
are very pleased that our Board of Directors has approved this
share repurchase program. This new 100,000 share approval
demonstrates our continuing commitment to growth and enhancing
shareholder value. This buyback will be funded through our internal
operating cash flows. In December the cost of milk, our largest
input cost, decreased to the lowest level in 24 months, and this
will only serve to continue to bolster our already strong cash
position and balance sheet." About Lifeway Foods Lifeway, recently
named Fortune Small Business' 97th Fastest Growing Small Business,
and one of only 4 companies to ever be named to the list four
straight years in a row, is America's leading supplier of the
cultured dairy product known as kefir, and now America's only
supplier of Organic Kefir. Lifeway Kefir is a dairy beverage that
contains Lifeway's exclusive 10 Live and Active probiotic cultures.
While most regular yogurt only contains two or three of these
"friendly" cultures, Lifeway kefir products offer more nutritional
benefits. Lifeway offers 12 different flavors of its Kefir
beverage, Organic Kefir and SoyTreat (a soy based kefir). Lifeway
recently introduced a series of innovative new products such as
pomegranate kefir, Greek-style kefir, a children's line of organic
kefir products called ProBugs (TM) in a no-spill pouch in
kid-friendly flavors like Orange Creamy Crawler and Sublime Slime
Lime, and a line of organic whole milk kefir. Lifeway also produces
a line of products marketed in US Hispanic communities, called La
Fruta, Drinkable Yogurt (yogurt drinks distinct from kefir). In
addition to its line of Kefir products, the company produces a
variety of cheese products and recently introduced a line of
organic pudding called It's Pudding!. For more information, contact
Julie Smolyansky at Lifeway Foods, Inc. at (847) 967-1010 or e-mail
at and visit http://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. DATASOURCE: Lifeway Foods, Inc.
CONTACT: Julie Smolyansky of Lifeway Foods, Inc., +1-847-967-1010,
Web site: http://www.kefir.com/
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