Greetings, and welcome to the Lifeway Foods Incorporated Fourth Quarter and Full Year 2012 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Katie Turner of ICR. Thank you. Ms. Turner, you may begin.

Thanks. Good afternoon, and welcome to Lifeway Foods fourth quarter and full year 2012 earnings conference call. On the call with me today are Julie Smolyansky, President and Chief Executive Officer; and Ed Smolyansky, Chief Financial Officer. By now, everyone should have access to the fourth quarter and full year earnings release for the period ending December 31, 2012, which went out this afternoon at approximately 4:05 p.m. Eastern time. If you've not received the release, it is available on the Investor Relations portion of Lifeway's website at www.lifeway.net. This call is being webcast, and a replay will be available on the company's website. Before we begin, we'd like to remind everyone that prepared remarks contain forward-looking statements, and management may make additional forward-looking statements in response to your questions. These statements do not guarantee future performance and, therefore, undue reliance should not be placed on them. Similarly, descriptions of Lifeway's objectives, strategies, plans and goals or targets contained herein are also considered forward-looking statements. Actual results could differ materially from those projected in any forward-looking statements. Lifeway assumes no obligation to update any forward-looking projections that may be made in today's release or on the call posted today and posted on their website. And with that, I'd like to turn the call over to Lifeway's CEO, Julie Smolyansky.

Thank you, Katie, and afternoon, everybody. I would like to begin today's call with an overview of our growth and success in 2012, including a brief discussion of our record fourth quarter and full year 2012 financial results in more detail. Lastly, I will open up the call to take your questions. 2012 was another year of record sales, and we are extremely pleased with our financial results. The Lifeway brand continues to grow within the expanding health and wellness product category. To support our growth and increase distribution, we continue to invest in our marketing and advertising efforts to further consumer awareness around the benefits of Kefir. We believe we are in the early stages of our long-term growth trajectory, and Lifeway leads the Kefir market today controlling 97% of the Kefir category. The yogurt and Kefir category grew over 20% in the last 52 weeks. Yogurt and Kefir ranked the 5th largest category across all departments and ranked first in unit sales, and the Lifeway brand is the sixth largest brand in the yogurt and Kefir up over 22% in 52 weeks according to recent IRI instant data. Our strategy is to remain true to our value to providing nutritious and convenient Kefir products as we grow and expand our company and deliver record sales and earnings growth. Focusing on our record results in more detail, growth sales increased 22% to $22.9 million for the fourth quarter, and gross sales increased approximately 16% or $12.6 million to $89.8 million. This increase was primarily attributable to increased sales and awareness of our flagship line, Kefir, as well as ProBugs, our Organic Kefir and secure, and BioKefir. Fourth quarter total consolidated net sales increased approximately 24% to $20.8 million, and net sales increased 16% to $81.4 million for the year.…

[Operator Instructions] Our first question comes from the line of Howard Halpern with Taglich Brothers.

My first question is, do you have an approximate number for Frozen Kefir revenue for the full year?

I don't have an exact -- an approximate number. Eddie, maybe you have an approximate number?

Yes, it was close to, like, $2 million to $2.2 million. But at this point, since the product is already -- the product line is already over almost 2 years old, we're not going to be giving breakout numbers going forward for Frozen just like we don't for any other of our existing lines.

Okay. And I'd like to just -- I guess, this may tie into your new ProBite for babies. But could you just provide like an overview of, I guess, the sales strategy in terms of -- and we can take the Frozen Kefir product where you have the frozen pints in stores. And then, you distribute that as broad and as wide as you can. And now you're going to those existing customers for the bars to get them on the shelves, too.

Correct.

Is that your strategy going for almost all your product lines?

Yes, exactly. I mean, they have shown a tremendous -- when we launched our Frozen pints, we did see a tremendous response and success and interest in these kinds of products. And so the idea is to take up market share and space from other brands that are maybe weaker or not growing with using the momentum in trends and leveraging a lot of the success and brand awareness that we have with our existing brand.

Okay. And the ProBugs Bites for babies, where do you envision that, I guess, being sold first? And then where would you like to see it down the road being sold?

Sure. It will initially go into the baby aisle at probably -- most likely the natural food stores, which tend to be the early adaptors for Lifeway brand products. So initially, the Whole Foods of the world and other natural food markets, Sprouts, moms, different national food co-op locations. But rather quickly, we expect to be in mass-market stores from Kroger to Safeway. Just again using our existing distribution and model to again leverage the success of the ProBugs brand and kind of expanding that brand into other areas of the grocery store, so beyond the baby aisle, go into Babies "R" Us. Of course, because it's shelf-stable, it also offers us the ability to shift directly from Lifeway or an Amazon.com or another online retailer.

Okay. And has -- because we talked a little bit about healthcare and such, have you had any successes yet or -- in penetrating hospitals, that type of food area?

Not directly food service within the hospital, but we do have doctors, nutritionists, RDs, GI professionals recommending Kefir and probiotics as a supplement to people's diets, especially when people are taking antibiotics. We are noticing many more doctors and practitioners recommending almost as a side-by-side, I would say, almost like another drug that they're kind of prescribing to that affect.

So it's a natural supplement tool that they're using basically sort of like that?

Exactly.

Okay. Two last questions. In the first quarter, because I've done a little bit of work on this, milk cost versus the same period last year are going to be up, I think. I mean but -- because it got so high in the middle of last year, overall for 2013, it should be flat to down. Am I correct in that assumption?

Yes, that is correct, Howard. You can -- like fourth quarter, milk prices were only about 5% lower. The volatility started to go down. It has for the last year. We'll continue probably for 2013. And we're looking to see flat or a minimal decrease for 2013.

Okay. And one last one. Do you envision the board of directors approving another $0.07 dividend this year?

Based on our current cash flows and balance sheet, we do.

[Operator Instructions] Our next question comes from the line of James Fronda with Sidoti & Company. James Fronda - Sidoti & Company, LLC: My question on milk price was already answered.

[Operator Instructions] It appears we have no more questions at this time. I would like to turn the floor back over to management for their closing comments.

Thank you for your participation today, and we look forward to sharing our first quarter of 2013 results with you in the next coming months. And have a good evening. Thank you.

This concludes today's teleconference. You may disconnect your lines at this time. Thank you for your participation.