American Italian Pasta joins Russell 2000 Index - Los Angeles Business from bizjournals:

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The index, part of the , measures performancs of the small-cap segment of U.S. equities, according to the index’w Web site. It includes about 2,000 of the smallest securities basede on a combination of their market cap and current index membership. The index is intendexd to provide anunbiased small-cap barometer and is reconstituted annualluy to ensure that largefr stocks don’t distort the performances and characteristics of small-cap stocks in the “Membership in the Russell indexes representes another milestone in the AIPC American Italian Pasta CEO Jack Kelly said in a Tuesda release. “It recognizes the significant jump in Americabn ItalianPasta Co.
’s market capitalization over the past year. The listinhg also provides another level of markety visibility forthe company.” Membership in the small-cap Russell 2000 Inde automatically includes membership in the larger Russel 3000 and Global indexes. Kansaa City-based American Italian Pasta (Nasdaq: AIPC) reporter that second-quarter earnings were nearly triplr those from the same period last year and that revenus rose16 percent. In roughlgy the past year, AIPC has settled lingering problemzs stemming from a scheme by former executives to makethe company’s financia l reports look good even as sales fell.
The scheme had falleh apart inAugust 2005, drawing pummeling the stock price and requirinbg the company to refilre financial statements. American Italian Pasta is the largest producer of dry pasta in North The company has about 650 employees and plant inExcelsior Springs; Columbia, Tolleson, Ariz.; and Verolanuova, Italy.