NASHVILLE — LifeWay Christian Resources officials reported strong ministry results for 2007 to trustees at their Sept. 10–11 semiannual meeting in Nashville. The church resources division led the way with increases in undated product sales, Vacation Bible School materials and participation in women’s and student events. The LifeWay Christian Stores division also showed strong results, with the opening of nine new stores and relocations of six others. LifeWay President and CEO Thom S. Rainer told trustees that beyond operational achievements, he is most thrilled with LifeWay’s commitment to ministry. In other business, the trustees:
- approved a record budget of $491 million for fiscal 2008 and received a report that LifeWay estimates closing out 2007 with revenues of $463 million.
- approved the allocation of reserve funds to cover the net unbudgeted cash flow impact of acquiring three stores in September.
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