LOUISVILLE, Ky.--(BUSINESS WIRE)--Jun. 28, 2012--
Sypris Solutions, Inc. (Nasdaq/NM: SYPR) today announced that it has
been added to the Russell 2000® Index effective June 22, 2012 as a
result of the annual reconstitution of Russell’s family of indexes.
Inclusion in the Russell 2000 Index is determined by total market
capitalization.
“We are pleased to be added to the Russell 2000 Index, which reflects
our positive momentum,” said President and Chief Executive Officer,
Jeffrey T. Gill. “We believe our inclusion in the Russell 2000 will help
increase visibility with investors and institutions that rely on the
Russell indexes as part of their investment strategy, providing us with
the opportunity to expand our shareholder base."
Russell indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for both passive and active
investment strategies. In the institutional marketplace, an
industry-leading $3.9 trillion in assets currently are benchmarked to
them. Russell calculates more than 80,000 benchmarks daily covering
approximately 98 percent of the investable market globally, 83 countries
and more than 10,000 securities. 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 2000 and other Russell Indexes are
available at http://www.russell.com/indexes/data/US_Equity/Russell_US_Index_returns.asp.
Sypris Solutions is a diversified provider of outsourced services and
specialty products. The Company performs a wide range of manufacturing,
engineering, design and other technical services, typically under
multi-year, sole-source contracts with corporations and government
agencies in the markets for truck components and assemblies and
aerospace and defense electronics. For more information about Sypris
Solutions, visit its Web site at www.sypris.com.
Each “forward-looking statement” herein is subject to serious
risks and should not be relied upon, as detailed in our most recent Form
10-K and Form 10-Q and subsequent SEC filings. Briefly, we currently
believe that such risks also include: declining revenues in our
aerospace and defense business lines as we transition from legacy
products and services into new market segments and technologies;
dependence on, recruitment or retention of key employees; reliance on
major customers or suppliers, especially in the automotive or aerospace
and defense electronics sectors; U.S. government spending on products
and services that our Electronics Group provides, including the timing
of budgetary decisions; our ability to develop new products and programs
within the Electronics Group; cyber security threats and disruptions;
potential impairments, non-recoverability or write-offs of goodwill,
assets or deferred costs, including capitalized pre-contract costs
related to the development of a replacement for certain aerospace and
defense products; potential liabilities associated with discontinued
operations, including post-closing indemnifications or claims related to
business or asset dispositions; our inability to successfully launch or
sustain new or next generation programs or product features, especially
in accordance with budgets or committed delivery schedules; the costs of
compliance with our auditing, regulatory or contractual obligations;
regulatory actions or sanctions (in each case including FCPA, OSHA and
Federal Acquisition Regulations, among others); inventory valuation
risks including obsolescence, shrinkage, theft, overstocking or
underbilling; pension valuation, health care or other benefit costs;
labor relations; strikes; union negotiations; changes in licenses,
security clearances, or other legal rights to operate, manage our work
force or import and export as needed; breakdowns, relocations or major
repairs of machinery and equipment; changes or delays in government or
other customer budgets, funding or programs; potential weaknesses in
internal controls over financial reporting and enterprise risk
management; the cost, efficiency and yield of our operations and capital
investments, including working capital, production schedules, cycle
times, scrap rates, injuries, wages, overtime costs, freight or
expediting costs; disputes or litigation, involving customer, supplier,
lessor, landlord, creditor, stockholder, product liability or
environmental claims; the costs and supply of debt, equity capital, or
insurance; fees, costs or other dilutive effects of refinancing,
compliance with covenants; cost and availability of raw materials such
as steel, component parts, natural gas or utilities; volatility of our
customers’ forecasts, financial conditions, market shares, product
requirements or scheduling demands; adverse impacts of new technologies
or other competitive pressures which increase our costs or erode our
margins; failure to adequately insure or to identify environmental or
other insurable risks; revised contract prices or estimates of major
contract costs; risks of foreign operations; currency exchange rates;
war, terrorism, or political uncertainty; unanticipated or uninsured
disasters, losses or business risks; inaccurate data about markets,
customers or business conditions; or unknown risks and uncertainties.
Source: Sypris Solutions, Inc.
Sypris Solutions, Inc.
Brian A. Lutes, 502-329-2000
Chief
Financial Officer