CHARLOTTE, Mich., Nov. 1 /PRNewswire-FirstCall/ — Spartan Motors, Inc.
(Nasdaq: SPAR) announced it will be added to the Standard & Poor’s S&P
SmallCap 600 Index at the close of trading today, according to a list of
changes published by Standard & Poor’s earlier this week.
“We are pleased with our inclusion in this index, as it reflects where we
come from and where we can potentially go,” said John Sztykiel, chief
executive officer of Spartan Motors. “Standard & Poor’s indexes are widely
used among the investment community, and this inclusion will provide greater
exposure relative to our stock.”
Introduced in 1994, the S&P SmallCap 600 covers approximately 3 percent of
the domestic equities market. The S&P Index Committee, whose members include
Standard & Poor’s economists and index analysts, maintains the index. The
index follows a set of published guidelines and policies that provide the
transparent methodologies used to maintain the index.
About Spartan Motors
Spartan Motors, Inc. (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 1,300 at facilities in Michigan, Pennsylvania, South Carolina,
and South Dakota. Spartan reported sales of $445 million in 2006 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.
11/01/2007
CONTACT: John Sztykiel, CEO, or Jim Knapp, CFO, both of Spartan Motors,
Inc.+1-517-543-6400Jeff Lambert or Ryan McGrath,
[email protected], both of Lambert, Edwards & Associates, Inc.
+1-616-233-0500, for Spartan Motors, Inc.
CO: Spartan Motors, Inc.
ST: Michigan
IN: AUT
SU: