(Source: PRNewswire)

WALTHAM, Mass., June 29 /PRNewswire-FirstCall/ -- Lionbridge Technologies, Inc. (Nasdaq: LIOX), today announced that its stock has been added to the Russell 3000(R) Index effective following Russell Investments' annual reconstitution of its comprehensive set of U.S. and global equity indexes on Friday, June 26th.
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. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
"Lionbridge's return to the prestigious Russell 3000 Index is yet another example of the continued momentum of the Company," said Rory Cowan, CEO, Lionbridge. "Our revenue seems to be strengthening after a challenging start to the year. We are reducing our overhead costs to enhance profitability. And our technology platform is leading to new market opportunities across our businesses. As a result, we are well positioned to deliver solid financial performance while maximizing value for customers, shareholders and employees."
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 investment strategies. An industry- leading $4 trillion in assets currently are benchmarked to them. Total returns data for the Russell 3000 and other Russell Indexes is available at http://www.russell.com/Indexes/performance/ default.asp.
About Lionbridge
Lionbridge Technologies, Inc. (Nasdaq: LIOX) is a provider of translation, development and testing services. Lionbridge combines global resources with proven program management methodologies to serve as an outsource partner throughout a client's product and content lifecycle - from development to translation, testing and maintenance. Global organizations rely on Lionbridge services to increase international market share, speed adoption of global products and content, and enhance their return on enterprise applications and IT system investments. Based in Waltham, Mass., Lionbridge maintains solution centers in 26 countries and provides services under the Lionbridge and VeriTest brands. To learn more, visit http://www.lionbridge.com.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, including expected financial performance, market opportunities, customer demand and growth, and revenue and earnings growth of Lionbridge during FY 2009. Lionbridge's actual experiences, actions, financial and operating results may differ materially from those discussed in the forward- looking statements. Factors that might cause such a difference include the loss of a major client or customer; the termination of customer contracts or engagements prior to the end of their term; the size, timing and recognition of revenue from clients; the ability of Lionbridge to realize the expected benefits of its technology initiatives and the timing of the realization of such benefits; continued uncertainty, volatility or deterioration in global economic conditions that could negatively affect demand for the Company's services; continued fluctuations in political, economic and business conditions, and additional downturns in worldwide economic conditions generally, and in the information technology and software industries specifically; Lionbridge's ability to forecast revenue, profitability, technology adoption, customer demand and operating results; the Company's dependence on clients' product releases, production schedules and procurement strategies to generate revenues; the timing and speed of customer and user acceptance of Lionbridge's language technology; the ability of Lionbridge to respond to fluctuations in the complexity, timing and mix of services required by customers; costs associated with restructuring of certain operations, the timing of any anticipated benefits and the ability to realize such benefits. For a more detailed description of the risk factors associated with Lionbridge, please refer to the Company's Annual Report on Form 10-K and subsequent filings with the SEC (copies of which may be accessed through the SEC's website at http://www.sec.gov).
Contact:
Sara Buda
Lionbridge
(781) 434-6190
sara.buda@lionbridge.com
SOURCE Lionbridge Technologies, Inc.
Originally published by Lionbridge Technologies, Inc..
(c) 2009 PRNewswire. Provided by ProQuest LLC. All rights Reserved.
A service of YellowBrix, Inc.