World Wrestling Entertainment, Inc. (NYSE:WWE) today issued a revised
business outlook, targeting average annual earnings growth between 15%
to 20% over the 2009 through 2012 period.1 The revised
outlook is based on a comprehensive review of the Company’s operations.
Vince McMahon, Chairman and Chief Executive Officer, said, "We believe
we can achieve meaningful growth by strengthening our global expansion
and television distribution, leveraging our new partnership with Mattel
and continuing to improve operating efficiency. Through disciplined cost
management, we expect our operating leverage to deliver outstanding
earnings growth with even moderate increases in revenue.”
George Barrios, Chief Financial Officer, added, "WWE’s projected
earnings growth reflects our focus on producing superior economic
returns on the capital invested in our business and thereby creating
value for our shareholders.”
Additional information on World Wrestling Entertainment, Inc.
(NYSE:WWE) can be found at wwe.com
and corporate.wwe.com.
For information on our global activities, go to http://www.wwe.com/worldwide/.
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Notes:
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1
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The outlook above does not include the impact of any future merger
or unplanned restructuring charges, the impact from sales and
acquisitions of operating assets and investments, or the impact of
taxes on the above items, that may occur from time to time due to
management decisions and changing business circumstances. The
Company is currently unable to forecast precisely the timing and/or
magnitude of any such amounts or events.
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Trademarks: All WWE programming,
talent names, images, likenesses, slogans, wrestling moves, trademarks,
copyrights and logos are the exclusive property of World Wrestling
Entertainment, Inc. and its subsidiaries. All other trademarks, logos
and copyrights are the property of their respective owners.
Forward-Looking Statements: This
news release contains forward-looking statements pursuant to the safe
harbor provisions of the Securities Litigation Reform Act of 1995, which
are subject to various risks and uncertainties. These risks and
uncertainties include the conditions of the markets for live events,
broadcast television, cable television, pay-per-view, Internet,
entertainment, professional sports, and licensed merchandise; acceptance
of the Company’s brands, media and merchandise within those markets;
uncertainties relating to litigation; risks associated with producing
live events both domestically and internationally; uncertainties
associated with international markets; risks relating to maintaining and
renewing key agreements, including television distribution agreements;
and other risks and factors set forth from time to time in Company
filings with the Securities and Exchange Commission. Actual results
could differ materially from those currently expected or anticipated. In
addition to these risks and uncertainties, our dividend is based on a
number of factors, including our liquidity and historical and projected
cash flow, strategic plan, our financial results and condition,
contractual and legal restrictions on the payment of dividends and such
other factors as our board of directors may consider relevant.
