HAUPPAUGE, N.Y., June 19, 2017 /PRNewswire/ -- VOXX International
Corporation (NASDAQ: VOXX), today announced that the Company is set
to join the broad-market Russell 3000® Index at the
conclusion of the Russell indexes annual reconstitution, effective
after the US market opens on June 26,
2017, according to a preliminary list of additions that was
posted on June 9, 2017.
Annual Russell indexes reconstitution captures the 4,000 largest
US stocks as of the end of May, ranking them by total market
capitalization. Membership in the US all-cap Russell 3000® Index,
which remains in place for one year, means automatic inclusion in
the large-cap Russell 1000Ò Index or small-cap Russell 2000Ò 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.
John Shalam, Chairman of the
Board and Pat Lavelle, President and
CEO of VOXX International Corporation commented, "We are pleased to
have been added to the Russell 3000 Index as we believe it will
help expand awareness of our Company and lead to greater liquidity
in our shares. We are building momentum moving into Fiscal
2018 and look forward to reporting on our progress throughout the
year. Our Board of Directors, senior management and all VOXX
employees remain committed to driving increased value for our
shareholders."
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 US 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 VOXX International Corporation
OXX International
Corporation (NASDAQ: VOXX) has grown into a worldwide leader in
Automotive, Consumer Electronics, Consumer Accessories and Premium
Audio. Today, the Company has an extensive distribution
network that includes power retailers, mass merchandisers, 12-volt
specialists and most of the world's leading automotive
manufacturers. The Company has an international footprint in
Europe, Asia, Mexico
and South America, and a growing
portfolio, which now comprises over 30 trusted brands. Among the
Company's brands are Klipsch®, RCA®, Invision®, Jensen®, Audiovox®,
Terk®, Acoustic Research®, Advent®, Code Alarm®, Car Connection®,
808®, AR for Her®, Prestige®, EyeLock, Hirschmann Car
Communication®, Jamo®, Energy®, Mirage®, Mac Audio®, Magnat®,
Heco®, Schwaiger®, Oehlbach®, and Incaar™. For additional
information, please visit our Web site at www.voxxintl.com.
About FTSE Russell:
FTSE Russell is a leading global
index provider creating and managing a wide range of indexes, data
and analytic solutions to meet client needs across asset classes,
style and strategies. Covering 98% of the investable market, FTSE
Russell indexes offer a true picture of global markets, combined
with the specialist knowledge gained from developing local
benchmarks around the world. FTSE Russell index expertise and
products are used extensively by institutional and retail investors
globally. Approximately $12.5
trillion is currently benchmarked to FTSE Russell indexes.
For over 30 years, leading asset owners, asset managers, ETF
providers and investment banks have chosen FTSE Russell indexes to
benchmark their investment performance and create investment funds,
ETFs, structured products and index-based derivatives. FTSE Russell
indexes also provide clients with tools for asset allocation,
investment strategy analysis and risk management.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on index innovation and customer
partnership applying the highest industry standards and embracing
the IOSCO Principles. FTSE Russell is wholly owned by London Stock
Exchange Group.
For more information, visit www.ftserussell.com
Safe Harbor Statement
Except for historical
information contained herein, statements made in this release that
would constitute forward-looking statements may involve certain
risks and uncertainties. All forward-looking statements made in
this release are based on currently available information and the
Company assumes no responsibility to update any such
forward-looking statements. The following factors, among others,
may cause actual results to differ materially from the results
suggested in the forward-looking statements. The factors include,
but are not limited to risks that may result from changes in the
Company's business operations; our ability to keep pace with
technological advances; significant competition in the automotive,
premium audio and consumer accessories businesses; our
relationships with key suppliers and customers; quality and
consumer acceptance of newly introduced products; market
volatility; non-availability of product; excess inventory; price
and product competition; new product introductions; foreign
currency fluctuations and concerns regarding the European debt
crisis; restrictive debt covenants; the possibility that the review
of our prior filings by the SEC may result in changes to our
financial statements; and the possibility that stockholders or
regulatory authorities may initiate proceedings against VOXX
International Corporation and/or our officers and directors as a
result of any restatements. Risk factors associated with our
business, including some of the facts set forth herein, are
detailed in the Company's Form 10-K for the fiscal year ended
February 28, 2017.
Company Contact:
Glenn Wiener, President
GW Communications
Tel: 212-786-6011
Email: gwiener@GWCco.com
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SOURCE VOXX International Corporation