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Lifeway Foods profit beats consensusin Q2

Lifeway Foods Inc. said its normalized net income for the second quarter came to $1.9 million, a rise from $17,500 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 6.1% from 0.1% in the year-earlier period.

Total revenue climbed year over year to $31.1 million from $29.8 million, and total operating expenses declined 5.7% on an annual basis to $28.1 million from $29.8 million.

Reported net income increased from the prior-year period to $2.1 million, or 13 cents per share, from $98,000, or 1 cents per share.