CHARLOTTE, Mich., July 27 /PRNewswire-FirstCall/ — Spartan Motors, Inc.
(Nasdaq: SPAR) has been added to the new NASDAQ Global Select Market, which
features the highest initial listing standards of any exchange in the world
based on financial and liquidity requirements.
“With our inclusion in the new NASDAQ Global Select Market, Spartan is
joining a prestigious group of industry leaders,” said John Sztykiel,
president and CEO of Spartan Motors. “We are intensely focused on
accountability and driving shareholder value, and we support NASDAQ’s efforts
to create this new listing tier to recognize companies like Spartan Motors for
superior financial performance and adherence to rigorous corporate governance
standards.”
On July 3, 2006, NASDAQ reclassified its listed companies under three
tiers: NASDAQ Global Select Market, NASDAQ Global Market and NASDAQ Capital
Market. Consisting of approximately the top third of NASDAQ listings, NASDAQ
Global Select Market companies meet the most stringent initial financial
listing standards ever set by a stock market. According to
http://NASDAQ.com , “inclusion in the NASDAQ Global Select Market is a mark of
achievement and stature for qualified companies.”
About Spartan Motors
Spartan Motors, Inc. (https://theshyftgroup.com ) designs, engineers
and manufactures custom chassis and vehicles for the recreational vehicle,
fire truck, ambulance, emergency-rescue and specialty vehicle markets. The
Company’s brand names — Spartan(TM), Crimson Fire(TM), Crimson Fire
Aerials(TM), and Road Rescue(TM) — are known for quality, value, service and
being the first to market with innovative products. The Company employs
approximately 900 at facilities in Michigan, Pennsylvania, South Carolina, and
South Dakota. Spartan reported sales of $343.0 million in 2005 and is focused
on becoming the premier manufacturer of specialty vehicles and chassis in
North America.
This release contains forward-looking statements, including, without
limitation, statements concerning our business, future plans and objectives
and the performance of our products. These forward-looking statements involve
certain risks and uncertainties that ultimately may not prove to be accurate.
Actual results and future events could differ materially from those
anticipated in such statements. Technical complications may arise that could
prevent the prompt implementation of the plans outlined above. The company
cautions that these forward-looking statements are further qualified by other
factors including, but not limited to, those set forth in the company’s Annual
Report on Form 10-K filing and other filings with the United States Securities
and Exchange Commission (available at http://www.sec.gov ). Government
contracts and subcontracts typically involve long payment and purchase cycles,
competitive bidding, qualification requirements, delays or changes in funding,
extensive specification development and changes, price negotiations and
milestone requirements. An announced award of a governmental contract is not
equivalent to a finalized executed contract and does not assure that orders
will be issued and filled. Government agencies also often retain some portion
of fees payable upon completion of a project and collection of contract fees
may be delayed for long periods, which can negatively impact both prime
contractors and subcontractors. The company undertakes no obligation to
publicly update or revise any statements in this release, whether as a result
of new information, future events or otherwise, except as required by law.
SOURCE: Spartan Motors, Inc.
CONTACT: John Sztykiel, CEO, or Jim Knapp, CFO, of Spartan Motors, Inc.,
+1-517-543-6400; Ryan McGrath, [email protected] , or Jeff Lambert,
of Lambert, Edwards & Associates, Inc., +1-616-233-0500, for Spartan Motors,
Inc.