CHARLOTTE, Mich., June 30, 2005 /PRNewswire-FirstCall via COMTEX/ — Spartan Motors, Inc.
(Nasdaq: SPAR) is set to join the new Russell Microcap(TM) Index when Russell
Investment Group publishes its family of U.S. indexes on July 1, 2005.
Russell recently posted a preliminary membership list at
http://www.russell.com/US/Indexes .
The Russell Microcap Index will be comprised of the smallest 1,000
securities in the small-cap Russell 2000(TM) Index plus the next 1,000
companies, based on a ranking of all U.S. equities by market capitalization.
This new index offers managers and other investors a comprehensive, unbiased
barometer to compare their performance against the genuine microcap
marketplace of stocks.
Russell indices are widely used by investment managers and institutional
investors for index funds and as benchmarks for both passive and active
investment strategies. Companies on the list represent more than $2.5
trillion in assets. Investment managers who oversee these funds purchase
shares of member stocks according to that company’s weighting in the
particular index.
About Spartan Motors
Spartan Motors, Inc. (https://theshyftgroup.com ) designs, engineers
and manufactures custom chassis and vehicles for the recreational vehicle,
fire truck, ambulance and emergency-rescue markets. The Company’s brand names
— Spartan(TM), Crimson Fire(TM), Crimson Fire Aerials(TM), and Road
Rescue(TM) — are known in their market niches for quality, value, service and
being the first to market with innovative products. The Company employs
approximately 900 at facilities in Michigan, Alabama, Pennsylvania, South
Carolina, and South Dakota. Spartan Motors is publicly traded on The Nasdaq
Stock Market under the ticker symbol SPAR.
The statements contained in this news release include certain predictions
and projections that may be considered “forward-looking statements” under the
securities laws. These forward-looking statements are identifiable by words
or phrases indicating that the Company or management “expects,” “believes” or
is “confident” that a particular result “may” or “should” occur, that a
particular item “bodes well,” that the Company “looks forward” to a particular
result, or similar statements. These statements involve many risks and
uncertainties that could cause actual results to differ materially, including
but not limited to economic, competitive, governmental and technological
factors affecting the Company’s operations, markets, products, services and
prices. Accounting estimates are inherently forward-looking. Additional
information about these and other factors that may adversely affect these
forward-looking statements are contained in the Company’s reports and filings
with the Securities and Exchange Commission. The Company undertakes no
obligation to update or revise any forward-looking statements to reflect
developments or information obtained after the date of this news release.
SOURCE: Spartan Motors, Inc.
John Sztykiel, CEO, or Jim Knapp, CFO, of Spartan Motors, Inc., +1-517-543-6400; Jef
Lambert or Ryan McGrath of Lambert, Edwards & Associates, Inc., +1-616-233-0500,
[email protected]