Lionbridge is Added to the Russell 3000® Index
WALTHAM, Mass., June 29, 2009 - Lionbridge Technologies, Inc. (Nasdaq: LIOX), today announced that its stock has been added to the Russell 3000® Index effective following Russell Investments' annual reconstitution of its comprehensive set of U.S. and global equity indexes on Friday June 26th.
Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
"Lionbridge's return to the prestigious Russell 3000 Index is yet another example of the continued momentum of the Company," said Rory Cowan, CEO, Lionbridge. "Our revenue seems to be strengthening after a challenging start to the year. We are reducing our overhead costs to enhance profitability. And our technology platform is leading to new market opportunities across our businesses. As a result, we are well positioned to deliver solid financial performance while maximizing value for customers, shareholders and employees."
The Russell 3000 also serves as the U.S. component to the Russell Global Index, which Russell launched in 2007. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for investment strategies. An industry-leading $4 trillion in assets currently are benchmarked to them. Total returns data for the Russell 3000 and other Russell Indexes is available at http://www.russell.com/Indexes/performance/default.asp.
About Lionbridge Lionbridge Technologies, Inc. (NASDAQ: LIOX) is a provider of translation, development and testing services. Lionbridge combines global resources with proven program management methodologies to serve as an outsource partner throughout a client's product and content lifecycle - from development to translation, testing and maintenance. Global organizations rely on Lionbridge services to increase international market share, speed adoption of global products and content, and enhance their return on enterprise applications and IT system investments. Based in Waltham, Mass., Lionbridge maintains solution centers in 26 countries and provides services under the Lionbridge and VeriTest brands. To learn more, visit http://www.lionbridge.com.