Inclusion in Indexes is Based On Company’s Market Capitalization
WASHINGTON–(BUSINESS WIRE)–July 9, 2008–Liquidity Services,
Inc. (NASDAQ:LQDT), a leading online auction marketplace for
wholesale, surplus and salvage assets, announced today that it remains
on the Russell 2000 Index, Russell 3000 Index and the Russell Microcap
Index after the 2008 Russell Index Reconstitution effective as of June
27, 2008.
The Russell indexes capture the 3,000 largest U.S. stocks, ranking
them by total market capitalization to create the Russell 3000. The
largest 1,000 companies in the ranking comprise the Russell 1000 while
the remaining 2,000 companies become the widely used Russell 2000.
Membership in Russell’s U.S. equity indexes, which remains in place
for one year, is determined primarily by market capitalization
rankings.
“We are pleased to be included in the Russell indexes for the
third year in a row since the completion of our Initial Public
Offering in February 2006,” said Bill Angrick, Chairman and CEO of
LSI. “This recognition highlights our consistent performance and
strong growth prospects in the large and fragmented reverse supply
chain marketplace.”
As of its March 31, 2008 quarter, LSI has recorded 22 consecutive
quarters of profitability through strong organic growth as well as
continued diversification of its business through recent acquisitions.
Its major sellers include Fortune 500 retailers, manufacturers and
distributors, United States Department of Defense, United Kingdom
Ministry of Defence, Environmental Protection Agency and the
Government of the District of Columbia.
About Liquidity Services, Inc. (LQDT)
Liquidity Services, Inc. (NASDAQ:LQDT) and its subsidiaries enable
corporations and government agencies to market and sell surplus assets
and wholesale goods quickly and conveniently using online auction
marketplaces and value-added services. The company is based in
Washington, D.C. and has 675 employees. Additional information can be
found at: www.liquidityservicesinc.com.
About Russell
Russell Investments aims to improve financial security for people
by providing strategic advice, world-class implementation,
state-of-the-art performance benchmarks, and a range of
institutional-quality investment products. With more than $213 billion
in assets under management, Russell serves individual, institutional
and advisor clients in more than 40 countries. Russell provides access
to some of the world’s best money managers. It helps investors put
this access to work in corporate defined benefit and defined
contribution plans, and in the life savings of individual investors.
Headquartered in Tacoma, Wash., Russell has principal offices in
Amsterdam, Auckland, Hong Kong, Johannesburg, London, Melbourne, New
York, Paris, San Francisco, Seoul, Singapore, Sydney, Tokyo and
Toronto. For more information on Russell indexes, go to
www.russell.com.
CONTACT: Liquidity Services, Inc.
Julie Davis, 202-558-6234
Corporate Communications Director
[email protected]
SOURCE: Liquidity Services, Inc.
Comments are closed.