Lifeway Foods Announces New 250,000 Share Buyback Program.
MORTON GROVE, Ill., Jan. 20, 2011 /PRNewswire/ -- 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 250,000 shares. Under such a program, Lifeway Foods may repurchase up to 250,000 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 as we feel at this time, investing in our own Company is the best investment out there for us. Given the recent positive reclassification of the largest raw material we purchase, milk, the added cash flows we expect to experience in 2011 was one deciding factor in approving our largest buyback program in the Company's history. This reclassification went into effect January 1, 2011. This new 250,000 share approval demonstrates our continuing commitment to growth and enhancing shareholder value. This buyback will be funded through our internal operating cash flows."
Lifeway Foods, Inc. |
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Phone: 877.281.3874 |
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Email: [email protected] |
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About Lifeway Foods
Lifeway Foods, Inc., recently named one of Fortune Small Business' Fastest Growing Companies for the 4th consecutive year, is America's leading supplier of the cultured dairy product known as Kefir, and America's sole supplier of Organic Kefir. Lifeway Kefir is a dairy beverage that contains 10 exclusive live and active probiotic cultures. While most regular yogurt contains only two or three of these "friendly" cultures, Lifeway Kefir products offer even more nutritional benefits. Lifeway produces 12 different flavors of its drinkable Kefir and Organic Kefir beverage, and recently introduced a series of innovative new products such as a children's line of Organic Kefir products called ProBugs (TM) with a no-spill pouch and kid-friendly flavors like Orange Creamy Crawler, Goo Berry Pie, and Sublime Slime Lime. In addition to its line of Kefir products, the Company produces a variety of probiotic cheese products, and a line of products marketed in US Hispanic communities called La Fruta Drinkable Yogurt (yogurt drinks distinct from Kefir).
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.
SOURCE Lifeway Foods, Inc.
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