Bacterin Joins Russell 3000, Russell Microcap, and Russell Global Indexes
Press Release Source: Bacterin International Holdings, Inc. On Monday June 27, 2011, 8:30 am EDT
BELGRADE, Mont., June 27, 2011 /PRNewswire/ -- Bacterin International Holdings, Inc. (NYSE Amex: BONE), a leader in the development of revolutionary bone graft material and anti-infective coatings for medical applications, was added to the U.S. broad-market Russell 3000® Index after the market closed on June 24, 2011. The company was also added to the Russell Microcap® Index and Russell Global Index.
Annual reconstitution of Russell's U.S. indexes captures and ranks the 4,000 largest U.S. stocks as of the end of May 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. Membership in the Russell Microcap Index, which also 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.
"Our addition to these Russell indexes represents another major milestone for Bacterin," said Guy Cook, the company's chairman and CEO. "It reflects that we're at a pivotal stage in our development in terms of our sales expansion and profitability. After double-digit sequential revenue gains over the last seven quarters, the greater visibility and awareness this listing is expected to bring couldn't come at a more favorable point in our development."
The Russell 3000 also serves as the U.S. component to the Russell Global Index. 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 institutional assets currently are benchmarked to them. 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.
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 about $161 billion in assets under management as of March 31, 2011, and serves individual, institutional and advisor clients in more than 35 countries. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company. More information about Russell Indexes, including total returns, is available at http://www.russell.com/Indexes/data/default.asp.
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