American Italian Pasta joins Russell 2000 Index - Memphis Business Journal:

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The index, part of the , measures performanc e of the small-cap segmenrt of U.S. equities, accordinfg to the index’s Web site. It includes about 2,000p of the smallest securities basede on a combination of their market cap and currenftindex membership. The index is intende to provide anunbiased small-cap baromete r and is reconstituted annually to ensure that larger stockse don’t distort the performance and characteristics of small-ca p stocks in the index. “Membership in the Russelk indexes represents another milestone in theAIPC story,” American Italiah Pasta CEO Jack Kelly said in a Tuesdayy release.
“It recognizes the significant jump in American ItalianPasta Co.’s market capitalization over the past The listing also provides another level of marketg visibility for the company.” Membershipp in the small-cap Russell 2000 Indedx automatically includes membership in the larger Russellk 3000 and Global indexes. Kansas City-basede American Italian Pasta (Nasdaq: AIPC) reported that second-quartefr earnings were nearly triple those from the same period last year and that revenude rose16 percent. In roughly the past AIPC has settled lingering problems stemming from a scheme by former executives to makethe company’as financial reports look good even as saleas fell.
The scheme had fallen apart in August drawing lawsuits, pummeling the stock price and requiring the compan to refile financial statements. American Italiahn Pasta is the largest producer of dry pasta inNorthb America. The company has about 650 employeese and plants inExcelsior Springs; Columbia, S.C.; Tolleson, and Verolanuova, Italy.