Lifeway Foods Announces Share Repurchase Program
28 Junho 2021 - 1:10PM
Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway” or “the Company”),
the leading U.S. manufacturer of kefir and fermented probiotic
products, announced today that Lifeway's Board of Directors has
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 two years from the effective date of the program. The
Company will use its available cash resources generated through
operations to fund the stock repurchase program.
"This buyback program reflects our confidence in
Lifeway’s overall business and successful execution of our Lifeway
2.0 strategy,” said Lifeway CEO Julie Smolyansky. “The strong
financial results we have achieved over the past year have
bolstered our reserves and influenced our decision to invest in
this buyback and return capital to our shareholders.”
About Lifeway FoodsLifeway Foods, Inc.,
which has been recognized as one of Forbes' Best Small Companies,
is America's leading supplier of the probiotic, fermented beverage
known as kefir. In addition to its line of drinkable kefir, the
company also produces cheese and a ProBugs line for kids. Lifeway's
tart and tangy fermented dairy products are now sold across the
United States, Mexico, Ireland, and the United Kingdom. Learn
how Lifeway is good for more than just you
at lifewayfoods.com.
Forward-Looking Statements All statements
in this release (and oral statements made regarding the subjects of
this release) contains “forward-looking statements” as defined in
the Private Securities Litigation Reform Act of 1995 regarding,
among other things, future operating and financial performance,
product development, market position, business strategy and
objectives. These statements use words, and variations of words,
such as “expect,” “vision,” “will,” “predict,” “grow,” and “trend.”
Other examples of forward looking statements may include, but are
not limited to, (i) statements of Company plans and objectives,
including the introduction of new products, or estimates or
predictions of actions by customers or suppliers, (ii) statements
of future economic performance, and (III) statements of assumptions
underlying other statements and statements about Lifeway or its
business. You are cautioned not to rely on these forward-looking
statements. These statements are based on current expectations of
future events and thus are inherently subject to uncertainty. If
underlying assumptions prove inaccurate or known or unknown risks
or uncertainties materialize, actual results could vary materially
from Lifeway’s expectations and projections. These risks,
uncertainties, and other factors include: price competition; the
decisions of customers or consumers; the actions of competitors;
changes in the pricing of commodities; the effects of government
regulation; possible delays in the introduction of new products;
and customer acceptance of products and services. A further list
and description of these risks, uncertainties, and other factors
can be found in Lifeway’s Annual Report on Form 10-K for the fiscal
year ended December 31, 2020, and the Company’s subsequent filings
with the SEC. Copies of these filings are available online at
https://www.sec.gov, http://lifewaykefir.com/investor-relations/,
or on request from Lifeway. Information in this release is as of
the dates and time periods indicated herein, and Lifeway does not
undertake to update any of the information contained in these
materials, except as required by law. Accordingly, YOU SHOULD NOT
RELY ON THE ACCURACY OF ANY OF THE STATEMENTS OR OTHER INFORMATION
CONTAINED IN ANY ARCHIVED PRESS RELEASE.
Company Contact:Derek Miller847-967-1010DerekM@Lifeway.net
Lifeway Foods (NASDAQ:LWAY)
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