ALISO VIEJO, CA - Smith Micro Software Inc. (NASDAQ: SMSI), a company that markets and develops a wide range of software products and services for the wireless market, today announced that the company has been added to the Russell 2000® and Russell 3000® indexes. The newly reconstituted Russell U.S. indexes became effective at the close of the U.S. markets on June 30, 2006.
"We believe the addition of Smith Micro in the Russell indexes reflects our success at executing our business strategy, including the significant progress we have made toward broadening our product reach and expanding our customer base," said William W. Smith, Jr., President and CEO of Smith Micro. "In addition, we believe our inclusion will increase our visibility with investors and institutions as a leading provider of wireless software solutions to carriers and handset manufacturers."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. The Russell Investment Company offers industry-leading indexes where $3.8 trillion in assets are currently benchmarked to the Russell indexes. The Russell 3000 Index measures the performance of the 3,000 largest U.S. companies based upon total market capitalization and the Russell 2000 measures the performance of the 2,000 smaller companies in the Russell 3000 Index, serving as a leading benchmark for small-cap stocks in the U.S.
About Smith Micro Software:
Smith Micro Software, Inc., headquartered in Aliso Viejo, California, develops and markets wireless communication, broadband and utility software products for multiple OS platforms. The company designs integrated cross platform, easy-to-use software for personal and business computing worldwide. With a focus on wireless, broadband and Internet technologies, the company's products and services enable wireless communications, file and image compression, digital image and music management. The award-winning software solutions empower Windows and Macintosh users in the areas of information access, removal, recovery, security, and Internet distribution. Smith Micro's leading brands are QuickLink®, StuffIt®, Internet Cleanup(TM) and Spring Cleaning®. Smith Micro's complete line of products is available through Smith Micro's Enterprise Group, Original Equipment Manufacturers (OEMs), the company website at www.smithmicro.com, retail stores, and through value-added resellers (VARs). Smith Micro's common stock trades on The NASDAQ Stock Market® under the symbol SMSI.
Safe Harbor Statement: This release may contain forward-looking statements that involve risks and uncertainties, including without limitation risks and uncertainties relating to Smith Micro's financial prospects and projections, the company's plans for returning to sustained profitability and the company's ability to increase its business. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are new and changing technologies, customer acceptance of those technologies, fluctuations or cancellations in orders from distribution customers, new and continuing adverse economic conditions, and the company's ability to compete effectively with other software companies. These and other factors discussed in the company's filings with the Securities and Exchange Commission, including its recent filings on Forms 10-K and 10-Q, could cause actual results to differ materially from those presented in any forward-looking statements. Smith Micro assumes no obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Smith Micro and the Smith Micro logo are trademarks or registered trademarks of Smith Micro Software, Inc. All other trademarks and product names are the property of their respective companies.