HUNTSVILLE, Texas, June 27, 2011 /PRNewswire/ -- Mitcham Industries,
Inc. (NASDAQ: MIND) announced today that it has joined the
broad-market Russell 3000® Index
after Russell Investments ("Russell") reconstituted its comprehensive set
of U.S. and global equity indexes on June
24, 2011. Inclusion in the Russell 3000 Index indicates that Mitcham
Industries, based upon its total market capitalization, will also
automatically be included in the widely followed Russell 2000® Index for U.S. small-cap
stocks.
Bill Mitcham, Mitcham's President
and CEO, stated, "Our addition to the Russell 3000 Index demonstrates the strong
progress we have made over the last year in building shareholder
value and will expose our company and our successful business model
to a wider audience of investors."
The annual reconstitution of Russell's U.S. indexes captures the 4,000
largest U.S. stocks as of the end of May, ranking them by total
market capitalization. Membership in the Russell 3000 Index, which remains in
place for one year, means automatic inclusion in either the
large-cap Russell 1000® Index or
small-cap Russell 2000 Index, as
well as the appropriate growth and value style indexes.
Russell determines membership for
its equity indexes primarily by objective, market-capitalization
rankings and style attributes. The Russell 3000 Index also serves as the U.S.
component of the Russell Global® Index, which Russell launched in 2007. The Russell indexes are widely used by investment
managers and institutional investors for index funds and as
benchmarks for both passive and active investment strategies. An
industry-leading $3.9 trillion in
assets currently are benchmarked to them.
Mitcham Industries, Inc., a geophysical equipment supplier,
offers for lease or sale, new and "experienced" seismic equipment
to the oil and gas industry, seismic contractors, environmental
agencies, government agencies and universities. Headquartered in
Texas, with sales and services
offices in Calgary, Canada;
Brisbane, Australia; Singapore; Ufa, Bashkortostan, Russia; Lima,
Peru; Bogota, Colombia and
the United Kingdom, Mitcham
conducts operations on a global scale and is the largest
independent exploration equipment lessor in the industry.
Through its Seamap business, the Company designs,
manufactures and sells specialized seismic marine equipment.
Contacts:
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Billy F. Mitcham, Jr.,
President & CEO
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Mitcham Industries,
Inc.
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936-291-2277
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Jack Lascar / Karen
Roan
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Dennard Rupp Gray &
Lascar (DRG&L)
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713-529-6600
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SOURCE Mitcham Industries, Inc.