Comtech Telecommunications Corp. Slated to Join Russell 3000 Index
June 30, 2003 at 10:30 AM EDT
MELVILLE, N.Y., Jun 30, 2003 (BUSINESS WIRE) --
Comtech Telecommunications Corp. (Nasdaq: CMTL), a leading provider of products, systems and services for advanced communications solutions, announced today that its common stock has been selected by the Frank Russell Company for inclusion in the Russell 2000(R) and Russell 3000(R) indexes. The index membership will go into effect July 1 and will remain in place for one year.
"Enhancing shareholder value is a key objective at Comtech Telecommunications Corp. and inclusion in the Russell indexes is a testament to the progress we have made," said Fred Kornberg, President and Chief Executive Officer.
Annual reconstitution of the Russell indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000. The largest 1,000 companies in the ranking comprise the Russell 1000 Index while the remaining 2,000 companies become the widely used Russell 2000 Index.
Comtech Telecommunications Corp. is an innovative player in domestic and global high-technology markets. Through its operating units, Comtech pursues opportunities in three interrelated market segments: telecommunications transmission, RF microwave amplifiers, and mobile data communications services. In each of these segments, growth has been driven by increasing demand for telecommunications infrastructure and network and messaging services. The Company's specialties include the design and manufacture of advanced products and networks used for transmission of voice, data and video using satellite, over-the-horizon microwave, terrestrial line-of-sight and other wireless communications systems. More than 300 distinct Comtech products are in service in more than 100 countries.
Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company's Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.
Comtech Telecommunications, Melville
Fred Kornberg or Robert G. Rouse, 631/777-8900
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