Diedrich Coffee Joins Russell 2000 Index
June 29 2009 - 4:30PM
PR Newswire (US)
IRVINE, Calif., June 29 /PRNewswire-FirstCall/ -- Diedrich Coffee,
Inc. (NASDAQ:DDRX), a leading roaster and wholesaler of the world's
finest coffees, was added to the U.S. small-cap Russell 2000(R)
Index after the equity markets closed on June 26, 2009. Membership
in the Russell 2000, which remains in place for one year, is based
on membership in the broad-market Russell 3000(R) Index. The
company was also added to the Russell 2000 Growth style index.
Annual reconstitution of Russell's U.S. indexes captures the 4,000
largest U.S. stocks ranked by total market capitalization as of the
end of May. Russell determines membership for its equity indexes
primarily by objective market-capitalization rankings and style
attributes. "The addition of Diedrich Coffee to the Russell 2000
Index represents another milestone for our company," said J.
Russell Phillips, president and CEO of Diedrich Coffee. "Our
inclusion in the Russell 2000 increases the awareness of our
accomplishments among institutional investors and the investment
community, as well highlights our potential for strong growth this
year. We believe this listing is another affirmation of our
strategy to capitalize on the growth of the wholesale specialty
coffee market with our strength as a premier roaster and
distributor of the world's finest coffees." With the increasing
demand for specialty coffees in homes, restaurants and offices,
Diedrich Coffee is realizing strong growth in its wholesale
business, especially in the sale of K-Cups through office coffee
distributors, specialty stores and online retailers. Diedrich
Coffee is one of only four roasters under license to produce K-Cups
for Keurig's top-selling single-cup brewing system. The
award-winning design of Keurig's single-cup brewing system combines
a pressurized hot water brewer with its patented K-Cups, which
feature a design that preserves the freshness of specialty coffees
and teas. System wide, more than 2 billion cups of Keurig Brewed(R)
coffee and tea have been enjoyed since 1998. The Russell 3000 also
serves as the U.S. component to the Russell Global Index, which
Russell launched in 2007. 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 $4.4 trillion in assets currently are benchmarked
to them. These investment tools originated from Russell's
multi-manager investment business in the early 1980's when the
company saw the need for a more objective, market-driven set of
benchmarks in order to evaluate outside investment managers. The
Russell 2000 Growth Index measures the performance of the small-cap
growth segment of the U.S. equity universe. It includes those
Russell 2000 companies with higher price-to-value ratios and higher
forecasted growth values. The Russell 3000 Index measures the
performance of the largest 3000 U.S. companies representing
approximately 99% of the investable U.S. equity market. Real-time
market analysis on the Russell 3000 and other Russell Indexes is
available at
http://www.russell.com/Indexes/performance/real_time_market_analysis.asp.
About Diedrich Coffee With headquarters in Irvine, California,
Diedrich Coffee specializes in sourcing, roasting and selling the
world's highest quality coffees. The company markets its three
leading brands of specialty coffees, Diedrich Coffee, Coffee People
and Gloria Jean's Coffees, through office coffee service
distributors, restaurants and specialty retailers, and via the
company's web stores. Diedrich Coffee is one of only four roasters
under license to produce K-Cups for Keurig Incorporated's
top-selling single-cup brewing system. For more information about
Diedrich Coffee, call 800-354-5282 or go to:
http://www.diedrich.com/, http://www.coffeepeople.com/ or
http://www.coffeeteastore.com/. Forward-Looking Statements
Statements in this news release that relate to future plans,
financial results or projections, events or performance are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and fall under the
safe harbor. Actual results and financial position could differ
materially from those anticipated in the forward-looking statements
as a result of a number of factors, including, but not limited to,
the financial and operating performance of Diedrich Coffee's
wholesale operations, the company's ability to maintain
profitability over time, the successful execution of the company's
growth strategies, the impact of competition, the availability of
working capital, and other risks and uncertainties described in
detail under "Risk Factors and Trends Affecting Diedrich Coffee and
its Business" in the company's annual report on Form 10-K for the
fiscal year ended June 25, 2008 and other reports filed with the
Securities and Exchange Commission. Except where required by law,
the company does not undertake an obligation to revise or update
any forward-looking statements, whether as a result of new
information, future events or changed circumstances. Trademarks are
the property of their respective owners. Diedrich Coffee Investor
Relations: Scott Liolios or Cody Slach Liolios Group, Inc. Tel
949-574-3860 DATASOURCE: Diedrich Coffee, Inc. CONTACT: Scott
Liolios or Cody Slach, both of Liolios Group, Inc.,
+1-949-574-3860, , for Diedrich Coffee Web Site:
http://www.diedrich.com/
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