World Wrestling Entertainment (WWE) Revises Business Outlook - Sees 15-20% Annual Earnings Growth Through 2012
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World Wrestling Entertainment, Inc. (NYSE: WWE) issued a revised business outlook, targeting average annual earnings growth between 15% to 20% over the 2009 through 2012 period. 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."
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