Herbalife Ltd. Increases Its Share Repurchase Program to $600 Million
LOS ANGELES--(BUSINESS WIRE)--
Herbalife Ltd. (NYSE:HLF) announced today that the board approved an increase of $150 million to its previously approved program, raising the total authorized value to $600 million.
The company has been actively purchasing its common shares in the open market since the initial $300 million authorization of the share repurchase program in April 2007. In August 2007, the board increased the authorization to $450 million. Since inception, the company has repurchased 11 million shares for approximately $450 million, representing approximately 15 percent of the fully diluted share base since the initial authorization.
About Herbalife Ltd.
Herbalife (http://www.herbalife.com) is a global network marketing company that sells weight-management, nutritional supplements and personal care products intended to support a healthy lifestyle. Herbalife products are sold in 65 countries through a network of more than 1.8 million independent distributors. The company supports the Herbalife Family Foundation (http://www.herbalifefamilyfoundation.org) and its Casa Herbalife program to bring good nutrition to children. Please visit Investor Relations (http://ir.herbalife.com) for additional financial information.
Disclosure Regarding Forward-Looking Statements
Except for historical information contained herein, the matters set forth in this press release are "forward-looking statements." All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including any projections of earnings, revenue or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements concerning proposed new services or developments; any statements regarding future economic conditions or performance; any statements of belief; and any statements of assumptions underlying any of the foregoing. Forward-looking statements may include the words, "may," "will," "estimate," "intend," "continue," "believe," "expect," or "anticipate" and any other similar words.
Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties, such as those disclosed or incorporated by reference in our filings with the Securities and Exchange Commission. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, among others, the following:
-- our relationship with, and our ability to influence the actions of, our distributors; -- adverse publicity associated with our products or network marketing organization; -- uncertainties relating to interpretation and enforcement of recently enacted legislation in China governing direct selling; -- risk of our inability to obtain the necessary licenses to expand our direct selling business in China; -- adverse changes in the Chinese economy, Chinese legal system or Chinese governmental policies; -- risk of improper action by our employees or international distributors in violation of applicable law; -- changing consumer preferences and demands; -- loss or departure of any member of our senior management team which could negatively impact our distributor relations and operating results; -- the competitive nature of our business; -- regulatory matters governing our products, including potential governmental or regulatory actions concerning the safety or efficacy of our products, and network marketing program, including the direct selling market in which we operate; -- risks associated with operating internationally, including foreign exchange risks; -- our dependence on increased penetration of existing markets; -- contractual limitations on our ability to expand our business; -- our reliance on our information technology infrastructure and outside manufacturers; -- the sufficiency of trademarks and other intellectual property rights; -- product concentration; -- our reliance on our management team; -- uncertainties relating to the application of transfer pricing, duties and similar tax regulations; -- taxation relating to our distributors, -- product liability claims; and -- there can be no assurance that we will purchase any of our shares in the open market or otherwise. Source: Herbalife Ltd.
Released May 20, 2008 • 10:21pm EDT