AUSTIN, Texas, June 13, 2005 --Perficient, Inc. (NASDAQ: PRFT), a leading information technology consulting firm in the central United States, today announced it will join the new Russell Microcap Index when the Russell Investment Group reconstitutes its family of U.S. indexes on June 24. Russell recently posted a preliminary membership list at www.russell.com/indexes.
The Russell Microcap Index, which will be comprised of the smallest 1,000 securities in the small-cap Russell 2000® Index plus the next 1,000 companies, is based on a ranking of all U.S. equities by market capitalization. This new index offers managers and other investors a comprehensive, unbiased barometer to compare their performance against the genuine microcap marketplace of stocks.
“We’re pleased to be named to the Russell MicroCap Index,” said Perficient chairman and chief executive Jack McDonald. “This will increase Perficient’s visibility with investors and institutions that rely on the Russell Indexes as a key part of their investment strategy.” Russell Indexes are widely used by investment managers for index funds and as benchmarks for both passive and active investment strategies. The index reconstitution process is followed closely by many investors because the Russell indexes currently have $2.5 trillion in assets benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to the company’s weighting in the particular index.
Companies slated for the Russell Microcap were ranked as of May 31 by total market capitalization and weighted based on free-float adjustment, an integral aspect of Russell index methodology. Free-float adjustment means stocks are weighted by their available market capitalization, which is calculated by multiplying the primary closing price by the available shares.
The preliminary lists of additions and deletions represent the first public step in Russell's annual "reconstitution" process. Any updates to these lists will be posted June 17 and June 24. Updates are made primarily due to recent corporate actions that affect the stock and availability of it shares. Otherwise the preliminary list remains largely unchanged.
Perficient is a leading information technology consulting firm serving Global 2000 and midsize companies in the central United States. Perficient helps clients gain competitive advantage by using Internet-based technologies to make their businesses more responsive to market opportunities and threats, strengthen relationships with customers, suppliers and partners, improve productivity and reduce information technology costs. Our solutions enable our clients to operate a real-time enterprise that dynamically adapts business processes and the systems that support them to the changing demands of an increasingly global, Internet-driven and competitive marketplace. Perficient is an award-winning "Premier Level" IBM business partner, a TeamTIBCO partner and a Microsoft Gold Certified Partner. For more information about Perficient, which has more than 510 professionals in the central United States and Canada, please visit www.perficient.com. IBM is a trademark of International Business Machines Corporation in the United States, other countries, or both.
About Russell Investment Group Russell Investment Group, a global leader in multi-manager investment services, provides investment products and services in more than 35 countries. Russell manages more than $135 billion in assets and advises clients worldwide representing more than $2.3 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo
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"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements that are subject to risk and uncertainties. These forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from management's current expectations and the forward-looking statements made in this press release. These risks and uncertainties include, but not limited to, the impact of competitive services, demand for services like those provided by the company and market acceptance risks, fluctuations in operating results, cyclical market pressures on the technology industry, the ability to manage strains associated with the company's growth, credit risks associated with the company's accounts receivable, the company's ability to continue to attract and retain high quality employees, accurately set fees for and timely complete its current and future client projects, the company’s ability to identify, compete for and complete strategic acquisition and partnership opportunities, and other risks detailed from time to time in the company's filings with Securities and Exchange Commission, including the most recent Form 10-KSB and Form 10-Q.