Nu Skin Enterprises Announces $100 Million Increase in Share Repurchase Authorization
PROVO, Utah, Nov. 5 /PRNewswire-FirstCall/ -- Nu Skin Enterprises, Inc. (NYSE: NUS) today announced that its board of directors has authorized an increase of $100 million to the company's ongoing share repurchase authorization. Shares may be purchased under this authorization on the open market and in private transactions. The $100 million share repurchase authorization adds to the $14 million remaining from the prior repurchase authorization.
"We are using the company's financial strength to deliver greater value to our shareholders," said Truman Hunt, president and chief executive officer. "By using our strong cash position to purchase stock, we are demonstrating our confidence in and commitment to our 2008 business plan."
The Company
Nu Skin Enterprises, Inc. is a global direct selling company operating in more than 40 countries throughout Asia, the Americas and Europe. The company markets premium quality personal care products under the Nu Skin brand, science-based nutritional supplements under the Pharmanex brand, and technology and telecommunications products and services under the Big Planet brand. Nu Skin Enterprises is traded on the New York Stock Exchange under the symbol "NUS."
Nu Skin Enterprises' news releases are available online at www.nuskinenterprises.com.
Please note: This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that represent the company's current expectations and beliefs, including the company's plans to continue to use some of its free cash to repurchase its shares on the open market and in private transactions. The forward-looking statements and related assumptions involve risks and uncertainties that could cause actual results and outcomes to differ materially from any forward- looking statements or views expressed herein. These risks and uncertainties include, but are not limited to: (a) there is no guarantee that the company will decide to repurchase any more of its shares, as management will continually assess the financial position of the company as well as strategic considerations; (b) there is no guarantee that the company's cash flows from operations and cash position will continue to remain strong, and our financial position and our ability to repurchase stock in the future may be weakened by such factors as negative market conditions, failure to execute effective initiatives in its existing markets and expand in new markets, and regulatory risks associated with the company's business model, products and tools. The company's financial performance and the forward-looking statements contained herein are further qualified by a detailed discussion of associated risks set forth in the documents filed by the company with the Securities and Exchange Commission, including the company's Annual Report on Form 10-K filed on March 1, 2007. The forward-looking statements set forth the company's beliefs as of the date of this release, and the company assumes no duty to update the forward-looking statements contained in this release to reflect any change.
SOURCE Nu Skin Enterprises, Inc.
CONTACT:
investors, Scott Pond,
+1-801-345-2657,
spond@nuskin.com,
or
media, Kara Schneck,
+1-801-345-2116,
kschneck@nuskin.com,
both of Nu Skin
Enterprises
Web site: http://www.nuskinenterprises.com