PRGX Set to Join Russell 3000® Index
PRGX Global, Inc.
Jun. 11, 2018
ATLANTA, June 11, 2018 (GLOBE NEWSWIRE) -- PRGX Global, Inc. (Nasdaq:PRGX), a global leader in Recovery Audit and Spend Analytics services, today announced it expects to join the Russell 3000® Index, effective as of the opening of the U.S. markets on Monday, June 25, 2018, based on a preliminary list of additions to the index posted by FTSE Russell on Friday, June 8, 2018.
“On the heels of a very solid 2017 and a great start to 2018, we see the addition to the Russell 3000 Index as validation that we are making significant progress in our transformation journey, delivering meaningful, sustainable and more predictable growth,” said Ron Stewart, President and Chief Executive Officer of PRGX. “The inclusion in the index marks a key milestone for the Company and further evidence of the value we are creating for our shareholders.”
The Company's addition to the Russell 3000 Index is part of FTSE Russell’s annual index reconstitution process that is done to reflect prior year changes in the ever-evolving global equity markets. Membership in the Russell 3000 Index results in automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index, as well as appropriate growth and value style indexes.
PRGX Global, Inc. is a global leader in Recovery Audit and Spend Analytics services. With over 1,500 employees, the Company serves clients in more than 30 countries and provides its services to 75% of the top 20 global retailers and over 30% of the top 50 companies in the Fortune 500. PRGX delivers more than $1 billion in cash flow improvement for its clients each year. The creator of the recovery audit industry more than 40 years ago, PRGX continues to innovate through technology and expanded service offerings. In addition to Recovery Audit, PRGX provides Contract Compliance, Spend Analytics and Supplier Information Management services to improve clients' financial performance and manage risk. For additional information on PRGX, please visit www.prgx.com
In addition to historical information, this press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include both implied and express statements regarding the Company's overall condition and growth prospects, the Company's execution of its business strategy, the sustainability and predictability of the Company's growth, and the Company’s addition to the Russell 3000 Index. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from the historical results or from any results expressed or implied by such forward-looking statements. Risks that could affect the Company's future performance include revenue that does not meet expectations or justify costs incurred, the Company's ability to develop material sources of new revenue in addition to revenue from its core recovery audit services, changes in the market for the Company's services, the Company's ability to retain and attract qualified personnel, the Company's ability to integrate recent and future acquisitions, uncertainty in the credit markets, the Company's ability to maintain compliance with its financial covenants, client bankruptcies, loss of major clients, and other risks generally applicable to the Company's business. For a discussion of other risk factors that may impact the Company's business, please see the Company's filings with the Securities and Exchange Commission. The Company disclaims any obligation or duty to update or modify these forward-looking statements
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CONTACT: PRGX Global, Inc.Ron Stewart, President & CEO770.779.3900600 Galleria Parkway, Suite 100Atlanta, GA 30339