Nu Skin Enterprises Announces $400 Million Increase In Stock Repurchase Authorization
PROVO, Utah, Aug. 1, 2013 /PRNewswire/ -- Nu Skin Enterprises, Inc. (NYSE: NUS) today announced that its board of directors has authorized a $400 million extension to the company's existing stock repurchase authorization.
"As we build on another record quarter and ramp up for the global roll out of our ageLOC TR90 weight management system, we are increasingly optimistic about the future of our business," said Ritch Wood, chief financial officer. "We are confident in the company's ability to continue to generate strong cash flow and plan to use our financial strength to repurchase shares to create shareholder value."
The board last increased the stock repurchase authorization by $250 million in May 2012.
About Nu Skin Enterprises, Inc.
Nu Skin Enterprises, Inc. demonstrates its tradition of innovation through its comprehensive anti-aging product portfolio, independent business opportunity and corporate social responsibility initiatives. The company's scientific leadership in both skin care and nutrition has established Nu Skin as a premier anti-aging company. The company's anti-aging products feature the new ageLOC® suite of products including the ageLOC® R2 nutritional supplement, ageLOC® Galvanic Spa System and ageLOC® Galvanic Body Spa™, as well as the ageLOC® Transformation daily skin care system. A global direct selling company, Nu Skin operates in 53 markets worldwide and is traded on the New York Stock Exchange under the symbol "NUS." More information is available at http://www.nuskin.com.
Please Note: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that represent the company's current expectations and beliefs. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws and include, but are not limited to, statements of management's expectations and beliefs regarding the company's performance, new product introductions and stock repurchases; statements of projections regarding cash flow and other financial items; statements of belief; and statements of assumptions underlying any of the foregoing. In some cases, you can identify these statements by forward-looking words such as "believe," "expect," "project," "anticipate," "estimate," "intend," "plan," "targets," "likely," "will," "would," "could," "may," "might," the negative of these words and other similar words.
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, the following:
- the company will determine the amount and timing of any stock repurchases by the company under the stock repurchase authorization based on multiple factors, including the company's net earnings, financial condition, cash requirements, future prospects, legal requirements or other factors deemed relevant by the company;
- any failure of current or planned initiatives or products to generate interest among distributors and customers and generate sponsoring and selling activities on a sustained basis;
- risks related to accurately predicting, delivering or maintaining sufficient quantities of products to support our planned initiatives or launch strategies, including possible ingredient supply limitations;
- challenging economic conditions globally;
- risk of foreign currency fluctuations and the currency translation impact on the company's business associated with these fluctuations;
- risks associated with general inquiries and complaints to consumer protection agencies in Japan regarding the activities of some distributors;
- risks associated with our ability to manage rapid growth, particularly in our greater China region;
- regulatory risks associated with the company's products, which could require the company to modify its claims or inhibit the company's ability to import or continue selling a product in a market if it is determined to be a medical device or if it is unable to register the product in a timely manner under applicable regulatory requirements;
- continued regulatory scrutiny and investigations in Mainland China, which have from time to time in the past, and could in the future, negatively impact the company's business, including the interruption of sales activities in stores, loss of licenses, and the imposition of fines;
- adverse publicity related to the company's business, products, industry or any legal actions or complaints by distributors or others;
- any prospective or retrospective increases in duties on the company's products imported into the company's markets outside of the United States and any adverse results of tax audits or unfavorable changes to tax laws in the company's various markets; and
- continued competitive pressures in the company's markets.
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. The forward-looking statements set forth the company's beliefs as of the date that such information was first provided and the company assumes no duty to update the forward-looking statements contained in this release to reflect any change except as required by law.
SOURCE Nu Skin Enterprises, Inc.