Daktronics, Inc. set to rejoin Russell 3000® Index
June 20 2023 - 4:00PM
Daktronics, Inc. (NASDAQ – DAKT) is set to rejoin
the broad-market Russell 3000 Index at the conclusion of the 2023
Russell indexes annual reconstitution, effective after the US
market opens next Monday, June 26, according to a preliminary list
of additions.
Annual Russell indexes reconstitution captures the
4,000 largest US stocks as of April 28, ranking them by total
market capitalization, including both the Russell 3000 and Russell
Microcap Indexes.
Membership in the US all-cap Russell 3000® Index,
which remains in place for one year, means automatic inclusion in
the large-cap Russell 3000 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 $12.1
trillion in assets are benchmarked against Russell’s US indexes.
Russell indexes are part of FTSE Russell, a leading global index
provider.
Reece Kurtenbach, chairman, president and chief
executive officer, noted, “We are pleased to rejoin the Russell
3000 Index. Our addition reflects the positive progress we have
made on many fronts this past year. We believe the inclusion will
provide greater visibility and reach to investment managers and
institutional investors, providing further exposure to our
strategies and results to these investors.”
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 FTSE Russell: FTSE Russell
is a global index leader that provides innovative benchmarking,
analytics and data solutions for investors worldwide. FTSE Russell
calculates thousands of indexes that measure and benchmark markets
and asset classes in more than 70 countries, covering 98% of the
investable market globally.
FTSE Russell index expertise and products are used
extensively by institutional and retail investors globally.
Approximately $20.1 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 ETFs, structured products and index-based derivatives.
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 applying the highest
industry standards in index design and governance and embraces the
IOSCO Principles. FTSE Russell is also focused on index innovation
and customer partnerships as it seeks to enhance the breadth, depth
and reach of its offering.
FTSE Russell is wholly owned by London Stock
Exchange Group. For more information, visit
www.ftserussell.com.
About Daktronics
Daktronics has strong leadership positions in, and is the world's
largest supplier of, large-screen video displays, electronic
scoreboards, LED text and graphics displays, and related control
systems. The company excels in the control of display systems,
including those that require integration of multiple complex
displays showing real-time information, graphics, animation, and
video. Daktronics designs, manufactures, markets and services
display systems for customers around the world in four domestic
business units: Live Events, Commercial, High School Park and
Recreation, and Transportation, and one International business
unit. For more information, visit the company's website at:
www.daktronics.com, email the company at investor@daktronics.com,
call (605) 692-0200 or toll-free (800) 843-5843 in the United
States, or write to the company at 201 Daktronics Dr., P.O. Box
5128, Brookings, S.D. 57006-5128.
Safe Harbor Statement
Cautionary Notice: This news release contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements reflect our current views with
respect to future events and financial performance. The words
"may," "would," "could," "should," "will," "expect," "estimate,"
"anticipate," "believe," "intend," "plan," “project,” “potential,”
“forecast” and similar expressions are intended to identify
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Any or all
forward-looking statements in this release and in any public
statements we make could be materially different from actual
results. Accordingly, we wish to caution investors that any
forward-looking statements made by or on behalf of us are subject
to uncertainties and other factors that could cause actual results
to differ materially from such statements. Important factors that
may cause actual results to differ materially from those in the
forward-looking statements include, but are not limited to, the
uncertainties related to market conditions and the effect of the
financing transactions described herein; the Company’s potential
need to seek additional strategic alternatives, including seeking
additional debt or equity capital or other strategic transactions
and/or measures; the Company’s ability to finalize or fully execute
actions and steps that would be probable of mitigating the
existence of “substantial doubt” regarding the Company’s ability to
continue as a going concern; the Company’s ability to increase cash
flow to support the Company’s operating activities and fund its
obligations and working capital needs; and the other risk factors
described more fully in the Company’s Annual Report on Form 10-K
for the fiscal year ended April 30, 2022 and the Company’s
Quarterly Reports on Form 10-Q for the quarters ended July 30,
2022, October 29, 2022 and January 28, 2023 filed with the
Securities and Exchange Commission, as well as other publicly
available information about the Company.
For more information
contact: INVESTOR RELATIONS: Sheila M.
Anderson, Chief Financial Officer Tel (605) 692-0200
Investor@daktronics.com
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