SAN JOSE, Calif., June 28 /PRNewswire-FirstCall/ -- Oclaro, Inc. (Nasdaq: OCLR), a tier-one provider of innovative optical communications and laser solutions, today announced that it has been added to the Russell 3000 Index following the Russell Investment Group's reconstitution of its family of U.S. indices after the market close on June 25, 2010.
"Our addition to the Russell 3000 Index is one more reflection of our progress in delivering shareholder value while executing towards our business model targets over the last year," said Alain Couder, president and CEO of Oclaro, Inc. "We also believe inclusion in this index should increase our visibility with a broader universe of investors that use the Russell indexes as part of their investment criteria."
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.
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, which remains in place for one year, means automatic inclusion in the small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. The Russell 3000 also serves as the U.S. component to the Russell Global Index, which Russell launched in 2007.
Oclaro, Inc. (Nasdaq: OCLR) is a tier-one provider of optical communications and laser components, modules and subsystems for a broad range of diverse markets, including telecommunications, industrial, scientific, consumer electronics, and medical. Oclaro is a global leader, dedicated to photonics innovation with cutting-edge research and development (R&D) and chip fabrication facilities in the U.K., Switzerland and Italy, and in-house and contract manufacturing sites in the U.S., Thailand and China. To support its diverse and global customer base, Oclaro maintains design, sales and service organizations in each of the major regions around the world. For more information visit http://www.oclaro.com.
Safe Harbor Statement
This press release contains forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. These forward looking statements include certain risks and uncertainties, including statements containing the words such as "target," "believe," "plan," "anticipate," "expect," "estimate," "will," "should," and "ongoing." The forward-looking statements included in this announcement represent Oclaro's view as of the date of this release. Oclaro specifically disclaims any obligation to update any forward-looking statements as a result of developments occurring after the date of this release.
SOURCE Oclaro, Inc.