Lifeway Foods falls as earnings slump
26/09/2022 18:22
** Shares in kefir supplier Lifeway Foods LWAY.O fall as
much as 2.1% to $5.65
** Lifeway reports net income of $0.1 million for the second
quarter, a 93% decline from a year earlier, as cost of goods
sold climbed nearly 30% and operating expenses also increased
** The earnings slump overshadows a near 15% increase in net
sales
** Lifeway says filing of its 10-Q for the second quarter
was also delayed following delays in filing its 10-K for the
year ended Dec. 31
** Shares have climbed nearly 26% this year
(Reporting by Praveen Paramasivam)
((Praveen.Paramasivam@thomsonreuters.com;))