SANTA ANA, Calif.--(BUSINESS WIRE)--Iteris, Inc. (NASDAQ: ITI), the global leader in applied informatics for transportation and agriculture, today announced the company has been added to the Russell 2000® Index and the broad-market Russell 3000® Index, effective after the U.S. market opens on June 26, 2017.
“Our addition to the Russell 2000 reflects the success of exciting business and technology innovations we have begun to introduce in our transportation-related market segments, as well as our progress in developing a highly meaningful, high margin software-as-a-service model in the agriculture market,” said Joe Bergera, President and CEO. “We look forward to the additional visibility and exposure that Iteris will realize from being part of the Russell 2000 Index.”
The rebalanced Russell Global, Russell 1000, Russell 2000, Russell 3000, Russell Midcap, and Russell Microcap Indexes begin trading today, June 26, 2017.
Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000® Index, 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. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $8.4 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
About Iteris, Inc.
Iteris is the global leader in applied informatics for transportation and agriculture, turning big data into big breakthrough solutions. We collect, aggregate and analyze data on traffic, roads, weather, water, soil and crops to generate precise informatics that lead to safer transportation and smarter farming. Municipalities, government agencies, crop science companies, farmers and agronomists around the world use our solutions to make roads safer and travel more efficient, as well as farmlands more sustainable, healthy and productive. Visit www.iteris.com for more information.
Iteris Forward-Looking Statements
This release contains forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as “believes,” “anticipates,” “expects,” “intends,” “forward,” “plans,” “projects,” “continue,” “progress,” “seeks,” “estimates,” “may,” “should,” “will,” “can,” and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about product development, product adoption, and additional visibility and exposure from being part of the Russell 2000 Index. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.
Important factors that may cause such a difference include, but are not limited to, our ability to successfully develop, complete, introduce, roll out, market, and commercialize our products and technologies to volume production in a timely and cost effective manner; pressures in the market to maintain high margin software-as-a-service model; ability of our customers to apply and implement our technologies; successfully gain broad market acceptance for our new technologies; potential impacts of product and service offerings from competitors and such competitors’ patent coverage and claims; and the impact of general economic, political and other conditions in the markets we address. Further information on Iteris, Inc., including additional risk factors that may affect our forward looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (www.sec.gov).