CPI Aerostructures, Inc. (“CPI Aero”) (NYSE MKT: CVU) announced today that it has been added to the Russell 3000 ® Index and the Russell 2000 ® Index. Russell Investments reconstituted its comprehensive set of U.S. and global equity indexes on June 22, 2012.
The Russell 3000 Index measures the performance of the largest 3000 U.S. companies, based on total market capitalization, representing approximately 98% of the investable U.S. equity market. The Russell 2000 Index measures the performance of the small-cap segment of the U.S. equity universe. The Russell 2000 is a subset of the Russell 3000 Index representing approximately 10% of the total market capitalization of that index.
Edward J. Fred, CPI Aero’s CEO & President stated, “We are very proud to be promoted from the Russell Microcap ® Index to the Russell 2000 and 3000 Indexes. This development is significant because it further elevates our profile among our shareholders. We remain committed to increasing shareholder value and have well positioned our Company for continued growth in the years to come."
About CPI AeroCPI Aero is engaged in the contract production of structural aircraft parts for leading prime defense contractors, the U.S. Air Force, and other branches of the armed forces. CPI Aero also acts as a subcontractor to prime aircraft manufacturers in the production of commercial aircraft parts. In conjunction with its assembly operations, CPI Aero provides engineering, technical and program management services. Among the key programs that CPI Aero supplies are the E-2D Advanced Hawkeye surveillance aircraft, the A-10 Thunderbolt attack jet, the Gulfstream G650, the UH-60 BLACK HAWK helicopter, the S-92 ® helicopter, the MH-60S mine countermeasure helicopter, AH-1Z ZULU attack helicopter, the HondaJet-Advanced Light Jet, the MH-53 and CH-53 variant helicopters, the C-5A Galaxy cargo jet, and the E-3 Sentry AWACS jet. CPI Aero is included in the Russell 2000 ® Index. The above statements include forward looking statements that involve risks and uncertainties, which are described from time to time in CPI Aero’s SEC reports, including CPI Aero’s Form 10-K for the year ended December 31, 2011 and its Form 10-Q for the quarterly period ended March 31, 2012.
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