June 23, 2006 04:01 PM Eastern Time
Steiner Leisure Limited Announces New Share Repurchase Program
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NASSAU, The Bahamas--(BUSINESS WIRE)--June 23, 2006--Steiner Leisure Limited (NASDAQ:STNR) today announced the approval by its Board of Directors of a new share repurchase plan under which up to one million Steiner Leisure common shares would be purchased.
Under the share repurchase plan, Steiner Leisure may purchase shares from time to time, at prevailing prices in open market, and possibly other, transactions, subject to market conditions and compliance with certain financial parameters. We cannot provide assurance as to the exact number of shares that will be repurchased under this plan.
Steiner Leisure recently completed its prior share repurchase plan, under which we purchased 1,000,000 shares between June 20, 2005 and June 16, 2006.
Steiner Leisure Limited is a worldwide provider of spa services. The Company's operations include spas and salons on 125 cruise ships, and in 57 resort spas and two luxury day spas. Our cruise line and land-based resort customers include Carnival Cruise Lines, Caesars Entertainment, Celebrity Cruises, Crystal Cruises, Cunard/Seabourn Cruise Lines, Hilton Hotels, Holland America Line, Kerzner International, Marriott Hotels, Norwegian Cruise Lines, Princess Cruises and Royal Caribbean Cruises. Our Elemis Limited subsidiary manufactures its Elemis(R) brand products for use in our cruise ship and land-based spas. This top quality European line of beauty products is also distributed worldwide to exclusive hotels, salons, health clubs and destination spas. Elemis(R), as well as other Steiner products, including La Therapie(R), Ionithermie, and Steiner Hair Care, are available at http://www.timetospa.com.
Steiner Leisure owns and operates four post secondary schools (comprised of a total of 14 campuses) located in Miami, Orlando, Pompano Beach and Sarasota, Florida; Baltimore, Maryland; Charlottesville, Virginia; York, Pennsylvania; Salt Lake City and Lindon, Utah; Las Vegas, Nevada; Tempe and Phoenix, Arizona; and Westminster and Aurora, Colorado. Offering degree and non-degree programs in massage therapy and, in some cases, skin care, these schools train and qualify spa professionals for health and beauty positions within the Steiner family of companies or other industry entities.