Inclusion in Indexes is Based On Company’s Market CapitalizationWASHINGTON, Jun 26, 2007 (BUSINESS WIRE) — 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 2007 Russell Index Reconstitution,
effective as of June 25, 2007.
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 recognized as a top performer in the Russell
indexes for a second 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 the continued success of our
business in creating highly liquid and scalable online marketplaces to
remarket and sell surplus assets and wholesale goods on behalf of
large corporations and government agencies.”
As of its March 31, 2007 quarter, LSI has achieved 18 consecutive
quarters of profitability and has grown its commercial division over
100% year-over-year for the past six quarters. Its major sellers
include Fortune 500 retailers, manufacturers and distributors, the
United States Department of Defense, the United Kingdom Ministry of
Defence, the 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 500 employees. Additional information can be
found at: www.liquidityservicesinc.com.
About Russell
Russell Investment Group 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 $200 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.
Founded in 1936, Russell is a subsidiary of Northwestern Mutual
Life Insurance Company. Headquartered in Tacoma, Wash., U.S., Russell
has principal offices in Amsterdam, Auckland, Hong Kong, Johannesburg,
London, Melbourne, New York, Paris, San Francisco, Singapore, Sydney,
Tokyo and Toronto.
Russell’s indexes are unmanaged and cannot be investing in
directly. For more information on Russell indexes, go to
www.russell.com.
SOURCE: Liquidity Services, Inc.
Liquidity Services, Inc.
Media Contact:
Julie Davis, Corporate Communications Director
202-558-6234
[email protected]
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