MONROVIA, Calif., June 14 /PRNewswire-FirstCall/ -- STAAR Surgical Company (Nasdaq: STAA), a leading developer, manufacturer and marketer of minimally invasive ophthalmic products, today announced that it has been included on a list of preliminary additions to the Russell 3000® Index, the Russell Microcap® Index and the Russell Global® Index posted by Russell Investments on June 11, 2010 on www.russell.com. These changes are expected to go into effect after the close of trading on Friday, June 25, 2010. Inclusion in the Russell 3000 Index means that STAAR Surgical would be automatically included in the widely noted Russell 2000® Index, which measures the performance of the 2,000 smallest companies in the Russell 3000 Index. Initial inclusion in the Russell indexes may lead to an increase in trading volume of STAAR Surgical shares if investment funds that track the index add the shares to their portfolios.
"The expected addition of STAAR Surgical to these Russell indexes recognizes the progress we have made the past few years and should expand awareness of our company among institutional investors as we continue to execute our growth strategy," said Barry G. Caldwell, President & CEO of STAAR Surgical Company.
The Russell 3000 Index measures the performance of the largest 3,000 U.S. companies, and is constructed to provide a comprehensive, unbiased and stable barometer of the broad market. The Index is reconstituted annually. The Russell 3000 also serves as the U.S. component to the Russell Global Index. The Russell Microcap Index is comprised of the smallest 1,000 in the Russell 3000 Index, plus the next smallest 1,000, and is comprised to provide a comprehensive, unbiased and stable barometer of the broad market. The Index is reconstituted annually.
About STAAR Surgical
STAAR, which has been solely dedicated to ophthalmic surgery for over 25 years, designs, develops, manufactures and markets implantable lenses for the eye. All of these lenses are foldable, which permits the surgeon to insert them through a small incision. A lens used to replace the natural lens after cataract surgery is called an intraocular lens or "IOL." A lens used in refractive surgery as an alternative to LASIK is called an Implantable Collamer(R) Lens or "ICL." Over 150,000 Visian ICLs have been implanted to date; to learn more about the ICL go to: www.visianinfo.com. STAAR has approximately 300 full time employees and markets lenses in approximately 50 countries. Headquartered in Monrovia, CA, it manufactures in the following locations: Nidau, Switzerland; Ichikawa City, Japan; Aliso Viejo, CA; and Monrovia, CA. For more information, please visit the Company's website at: http://www.staar.com/ or call 626-303-7902.
All statements in this press release that are not statements of historical fact are forward-looking statements, including any statements about the effect of being listed on Russell indexes, any statements of expectation or belief and any statements of assumptions underlying any of the foregoing.
These statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include the fact that STAAR has no control over its inclusion in the final indexes and the factors other than inclusion in the Russell index that can affect trading volume in STAAR's common stock. STAAR's stock price has been volatile in recent periods. STAAR assumes no obligation to update its forward-looking statements to reflect future events or actual outcomes and does not intend to do so.
SOURCE STAAR Surgical Company