Hardinge Inc. Added to Russell Stock Indices
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ELMIRA, N.Y., June 28 / -- Hardinge Inc. (NASDAQ:HDNG), a leading international provider of advanced material-cutting solutions, today announced that the company's common stock was selected for inclusion in both the Russell 2000(R) and Russell 3000(R) indices. Hardinge's inclusion became effective on June 22 when the Russell Investment Group reconstituted its comprehensive set of U.S. and global equity indices.
"We are honored to be included in these widely followed and respected indices, and to receive the elevated investor awareness which results from being added," said J. Patrick Ervin, Chairman, President and Chief Executive Officer. "Our inclusion reflects Hardinge's strong growth in market capitalization, coupled with a successful follow-on stock offering which generated nearly $56 million of new capital."
Russell produces a family of U.S. equity indices which are market cap- weighted and include only common stocks incorporated in the United States and its territories. Each year, on the last trading day in May, Russell ranks the 4,000 largest U.S. stocks by market capitalization and then adjusts for corporate cross-ownership and large private holdings.
The Russell 3000 Index measures the performance of the 3,000 largest U.S. companies, based on total market capitalization. The Russell 2000 Index is constructed to provide a comprehensive and unbiased small-cap barometer, and includes the smallest 2000 securities in the Russell 3000. Hardinge is also included in the Russell Microcap Index, which includes the smallest 1,000 securities in the small-cap Russell 2000 Index, plus the next 1,000 securities.
Hardinge has a very diverse international customer base and serves a wide variety of end-user markets. Along with metalworking manufacturers which make parts for a variety of industries, its customers include a wide range of end users in the aerospace, agricultural, transportation, basic consumer goods, communications and electronics, construction, defense, energy, pharmaceutical and medical equipment, and recreation industries, among others. The company has manufacturing operations in the United States, Switzerland, Taiwan and China. Hardinge's common stock trades on NASDAQ under the symbol, "HDNG." For more information, please visit http://www.hardinge.com/.
Contact:
Charles R. Trego, Jr.,
Senior V.P. / C.F.O.
(607) 378-4202
Source: Hardinge Inc.
Web site: http://www.hardinge.com/
