Nu Skin Enterprises Completes $25 Million Stock Transaction
PROVO, Utah, Jan 18, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Nu Skin Enterprises, Inc. (NYSE: NUS) announced today that it received approximately 202,000 shares in connection with the final settlement of its November 2007 agreement to purchase $25 million of its common stock from the investment firm J.P. Morgan Securities using an accelerated share repurchase program. Including this final settlement, the company was able to retire approximately 1.48 million shares at an average purchase price of $16.90.
"We remain committed to using our financial strength to improve shareholder value and are optimistic about the direction of our business," said Truman Hunt, president and chief executive officer. "This completes one of many initiatives we have in place to generate a significant improvement in our results in 2008."
The Company
Nu Skin Enterprises, Inc. is a global direct selling company operating in more than 45 markets throughout Asia, the Americas and Europe. The company markets premium-quality personal care products under the Nu Skin(R) brand, science-based nutritional supplements under the Pharmanex(R) brand, and technology-based products and services under the Big Planet(R) brand. Nu Skin Enterprises is traded on the New York Stock Exchange under the symbol "NUS."
Please note: This press release contains forward-looking statements that represent the company's current expectations and beliefs, including, among other things, the Company's optimism concerning the direction of the company and the initiatives being undertaken to generate significant improvements. The forward-looking statements 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, risks that initiatives will not generate increased enthusiasm among distributors, increase distributor sponsorship and retention, or drive revenue growth, and risks that operating results may be less than expected. 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 most recent Form 10-K and Form 10-Q. 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.
http://www.nuskinenterprises.com