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 ® R 2 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.