STAMFORD, Conn., Nov 05, 2009 (BUSINESS WIRE) -- 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/.
Notes:
1The 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.
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.
SOURCE: World Wrestling Entertainment, Inc.
World Wrestling Entertainment, Inc.Investors:Michael Weitz, 203-352-8642Media:Robert Zimmerman, 203-359-5131
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