LifeWay’s ‘health is good’ despite bad economy

NASHVILLE — LifeWay Christian Resources is doing “remarkably well” despite an economy that many observers say is going from bad to worse, LifeWay executives reported to trustees during their semiannual meeting Feb. 9–10 in Nashville.

President Thom S. Rainer told trustees that despite an “economic Pearl Harbor,” as investor Warren Buffett described the current U.S. economy, LifeWay has responded nimbly and continues to impact the world for Christ with biblically sound resources.

Jerry Rhyne, LifeWay’s chief financial officer, said, “LifeWay’s financial health is good.” He cited a strong balance sheet, no debt, a healthy reserve fund, a growing revenue trend, a strong and diverse customer base and a steady stream of theologically sound resources. LifeWay Christian Stores Vice President Mark Scott said his area is showing strong numbers and noted a new store recently opened.