please view our disclaimer located on page 11 405 lexington avenue 51st floor new york ny 10174 800 383 8464 fax 631 757 1333 www taglichbrothers com research report update investors should consider this as only a single factor in making their investment decision lifeway foods inc rating neutral howard halpern lway 7 01 nasdaqgm september 18 2006 fy 12 04 05 06 e 07 revenue millions 16 32 20 13 27 57 37 85 earnings per share diluted 0 15 52 week range 79 5 fiscal year ends december shares outstanding o 08 793 million ttm 1 31 trading float 4 587 price sales 35x insider and owners 72 69 2007 3 16x tangible book value shr 30 26 43 8x 56x 0x all figures reflect the 2 stock split effective march 9 2004 august is manufacturer of cultured probiotic functional
