House & Home
Wed, June 30, 2010Tue, June 29, 2010Mon, June 28, 2010Sun, June 27, 2010Fri, June 25, 2010Thu, June 24, 2010Summer Infant, Inc. Added to the Russell 2000(R) Index and Russell 3000(R) Index
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Published in House and Home on Tuesday, June 29th 2010 at 5:11 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
WOONSOCKET, RI--(Marketwire - June 29, 2010) - Summer Infant, Inc. ("Summer Infant" or the "Company") (
Annual reconstitution of Russell's U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or 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.
Jason Macari, Chairman and Chief Executive Officer of Summer Infant, commented, "The addition of Summer Infant to the Russell 2000® and 3000® indexes is an important step for our Company and for our shareholders. We believe our inclusion will increase our visibility within the investment community and will allow us to expand our range of potential institutional investors."
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 are benchmarked to them. Stocks that are added to Russell indexes are often purchased by index funds. Russell's 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.
About Summer Infant, Inc.
Based in Woonsocket, Rhode Island, the Company is a designer, marketer and distributor of branded durable juvenile health, safety and wellness products (for ages 0-3 years), which are sold principally to large U.S. retailers. The Company currently sells proprietary products in a number of different categories, including nursery audio/video monitors, safety gates, durable bath products, bed rails, nursery products, booster and potty seats, infant bedding, bouncers, travel accessories, highchairs, swings and nursery furniture.
Forward-Looking Statements
Certain statements in this release that are not historical fact may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and the Company intends that such forward-looking statements be subject to the safe harbor created thereby. These statements are accompanied by words such as "anticipate," "expect," "project," "will," "believes," "estimate" and similar expressions. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors include the concentration of the Company's business with retail customers; the ability of the Company to compete in its industry; the Company's dependence on key personnel; the Company's reliance on foreign suppliers; the costs associated with pursuing and integrating strategic acquisitions; and other risks as detailed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2009, and subsequent filings with the Securities and Exchange Commission. The Company assumes no obligation to update the information contained in this presentation.