Liquidity Services, Inc. Continues Rank as Top Performer on Russell 2000 and Russell 3000 Indexes
The Russell indexes capture the 3,000 largest U.S. stocks, ranking them by total market capitalization to create the Russell 3000. The largest 1,000 companies in the ranking comprise the Russell 1000 while the remaining 2,000 companies become the widely used Russell 2000. Membership in Russell's U.S. equity indexes, which remains in place for one year, is determined primarily by market capitalization rankings.
"We are pleased to be recognized as a top performer in the Russell indexes for a second year in a row since the completion of our Initial Public Offering in February 2006," said Bill Angrick, Chairman and CEO of LSI. "This recognition highlights the continued success of our business in creating highly liquid and scalable online marketplaces to remarket and sell surplus assets and wholesale goods on behalf of large corporations and government agencies."
As of its March 31, 2007 quarter, LSI has achieved 18 consecutive quarters of profitability and has grown its commercial division over 100% year-over-year for the past six quarters. Its major sellers include Fortune 500 retailers, manufacturers and distributors, the United States Department of Defense, the United Kingdom Ministry of Defence, the Environmental Protection Agency and the Government of the District of Columbia.
About Liquidity Services, Inc. (LQDT)
Liquidity Services, Inc. (NASDAQ:LQDT) and its subsidiaries enable corporations and government agencies to market and sell surplus assets and wholesale goods quickly and conveniently using online auction marketplaces and value-added services. The company is based in Washington, D.C. and has 500 employees. Additional information can be found at: www.liquidityservicesinc.com.
Russell Investment Group aims to improve financial security for people by providing strategic advice, world-class implementation, state-of-the-art performance benchmarks, and a range of institutional-quality investment products. With more than $200 billion in assets under management, Russell serves individual, institutional and advisor clients in more than 40 countries. Russell provides access to some of the world's best money managers. It helps investors put this access to work in corporate defined benefit and defined contribution plans, and in the life savings of individual investors.
Founded in 1936, Russell is a subsidiary of Northwestern Mutual Life Insurance Company. Headquartered in Tacoma, Wash., U.S., Russell has principal offices in Amsterdam, Auckland, Hong Kong, Johannesburg, London, Melbourne, New York, Paris, San Francisco, Singapore, Sydney, Tokyo and Toronto.
Russell's indexes are unmanaged and cannot be investing in directly. For more information on Russell indexes, go to www.russell.com.
SOURCE: Liquidity Services, Inc.
Liquidity Services, Inc.
Julie Davis, Corporate Communications Director