PROVO, Utah (AP) -- Nu Skin Enterprises Inc. said on Wednesday that it has added $250 million to its share repurchase plan.
The company, which makes face washes and other anti-aging products, said it will buy back the shares on the open market. It said it also had about $80 million remaining from its prior repurchase authorization.
In February, Nu Skin said its full-year net income rose 13 percent to $153 million. Revenue also rose 13 percent, to $1.74 billion.
"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," said Chief Financial Officer Ritch Wood.
Nu Skin shares fell 35 cents to $48.54 in afternoon trading.