Nu Skin Enterprises Announces $250 Million Increase In Share Repurchase Authorization
PROVO, Utah, May 2, 2012 /PRNewswire/ -- Nu Skin Enterprises, Inc. (NYSE: NUS) today announced that its board of directors has authorized a $250 million extension to the company's ongoing share repurchase authorization. The newly authorized funds will be used to repurchase company stock on the open market. The $250 million share repurchase authorization adds to the approximately $80 million remaining from the prior authorizations as of March 31, 2012.
"As we build on another record quarter and continue to generate strong results from the global roll out of our ageLOC anti-aging products, we are optimistic about the future of our business," said Ritch Wood, chief financial officer. "We have used our financial strength in the past to repurchase shares, and it makes sense to increase share repurchase activity at this point in time to benefit our shareholders."
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 (NUS) as a premier anti-aging company, evidenced in its unique ageLOC® science that addresses aging at its source. 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 52 markets worldwide and has more than 860,000 independent distributors. Nu Skin 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 21E of the Securities Exchange Act of 1934 that represent the company's current expectations and beliefs regarding stock repurchases, the company's launch of new products and development of future products and the company's other plans and strategies. These forward-looking statements are based on current information and expectations, and are subject to risks and uncertainties discussed in company filings with the U.S. Securities and Exchange Commission, which could cause the company's actual results to differ materially from expected results. The company undertakes no obligation to publicly update any forward-looking statement contained in this press release, whether as a result of new information, future developments or otherwise, except as may be required by law.
SOURCE Nu Skin Enterprises, Inc.