Science & Technology
Science and Technology
Science and Technology
Tue, June 29, 2010 Sparton Corporation Selected to Join Russell Microcap Index
SCHAUMBURG, Ill.--([ BUSINESS WIRE ])--Sparton Corporation (NYSE: SPA) announced that it has joined the Russell Microcap® Index according to the list posted June 28, 2010 on [ www.russell.com ].
Membership in the Russell Microcap Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
aWe are very pleased to have been selected for the Russell Microcap® Index. Over the past eighteen months our Company has pursued a disciplined turnaround strategy which has resulted in our return to profitability. We view our selection for the Russell Microcap® Index as recognition of our efforts to date and a positive endorsement of our capabilities,a stated Cary Wood, President and Chief Executive Officer of Sparton.
Russell Indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $3.9 trillion in assets currently are benchmarked to them.
Annual reconstitution of Russell Indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000® Index and Russell Microcap. These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.
Total returns data for the Russell Microcap and other Russell Indexes is available at [ http://www.russell.com/Indexes/performance/default.asp ].
About Sparton Corporation
Sparton Corporation (NYSE:SPA), now in its 110th year, is a provider of complex and sophisticated electromechanical devices with capabilities that include concept development, industrial design, design and manufacturing engineering, production, distribution, and field service. The primary markets served are in the Medical Device, Defense & Security Systems, and Electronic Manufacturing Services industries. Headquartered in Schaumburg, IL, Sparton currently has four manufacturing locations worldwide. The Company's Web site may be accessed at [ http://www.sparton.com ].
About Russell
Russell Investments provides strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. Russell has $179 billion in assets under management as of March 31, 2010, and serves individual, institutional and advisor clients in more than 40 countries. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company.
Safe Harbor and Fair Disclosure Statement
Certain statements described in this press release are forward-looking statements within the scope of the Securities Act of 1933, as amended (the aSecurities Acta), and the Securities Exchange Act of 1934, as amended (the aExchange Acta). Forward-looking statements may be identified by the words abelieve,a aexpect,a aanticipate,a aproject,a aplan,a aestimate,a awilla or aintenda and similar words or expressions. These forward-looking statements reflect Spartona™s current views with respect to future events and are based on currently available financial, economic and competitive data and its current business plans. Actual results could vary materially depending on risks and uncertainties that may affect Spartona™s operations, markets, prices and other factors. Important factors that could cause actual results to differ materially from those forward-looking statements include, but are not limited to, Spartona™s financial performance and the implementations and results of its ongoing strategic initiatives. For a more detailed discussion of these and other risk factors, see PartI, Item1A, Risk Factors and PartII, Item7, Managementa™s Discussion and Analysis of Financial Condition and Results of Operations, in Spartona™s Form 10-K for the year ended June30, 2009, and its other filings with the Securities and Exchange Commission. Sparton undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
