Second quarter of 2012 gross sales increased 14% to $22.7m compared to $19.9m for the second quarter of 2011. This increase is primarily attributable to increased sales and awareness of the Company’s flagship line, Kefir, as well as ProBugs Organic Kefir for kids and BioKefir.
Lifeway’s Frozen Kefir line contributed approximately $0.8m to sales during the second quarter of 2012.
Total consolidated net sales increased 13% or $2.4m to $20.6m during the three-month period ended 30 June 2012 from $18.2m during the same three-month period in 2011.
Gross profit for the second quarter of 2012 increased 46% to $8.0m, compared to $5.5m in the second quarter of the prior year. The Company’s gross profit margin increased to 39% in the second quarter vs 30% in the second quarter of 2011. The increase was primarily attributable to a 20% decrease in the cost of conventional, the Company’s largest raw material, partially offset by a 5% increase in the cost of organic milk.
Total operating expenses increased 2% or $0.1m to $4.9m during the second quarter of 2012, from $4.8m during the same period in 2011.
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