Alpha to Advance to Russell 1000(R) Index
Leading Enabler of Wireless and Broadband Technology Expects to
Move to Benchmark Index Measuring 1,000 Largest
U.S. Stocks in the Russell 3000
Alpha, Inc. (NASDAQ:AHAA) today announced that it expects to advance to the Russell 1000® Index from the Russell 2000® Index when the newly rebalanced indexes go into effect July 1, 2000.
The Russell 1000 measures the performance, based on total market capitalization, of the 1,000 largest companies in the Russell 3000 Index. The Russell 2000 measures the performance of the 2,000 smallest companies in the Russell 3000. These are part of 21 U.S. equity indexes developed by the Frank Russell Company, and are widely used as a benchmark for investment strategies by institutional and individual investors.
The Russell indexes are reconstituted annually to identify the 3,000 largest companies as of the end of May. Final membership lists will be available July 10, 2000 on Russell.com. The median market capitalization of Russell 1000 companies has increased to $3.8 billion in 1999 from $1.7 billion in 1994.
"Alpha's anticipated move to the Russell 1000 underscores our continued financial strength," said Dave Aldrich, the company's president and chief executive officer. "This is a key benchmark for the investment community, and the continued visibility it provides should benefit Alpha as we continued to extend the leadership of our GaAs technology in the wireless and broadband area."
About Alpha
Alpha designs and manufactures a broad range of products for microwave and radio frequency wireless communications applications. The Wireless Semiconductor segment provides gallium arsenide (GaAs) integrated circuits and other semiconductors to the dynamic global market for wireless telephone handsets. The Application Specific Products (ASP) segment provides a broad range of GaAs and silicon devices to satellite, instrumentation, defense and other communications markets. The Ceramic Products segment provides technical ceramic products for wireless telephony infrastructure and other wireless markets. Alpha has a workforce of over 1,000 employees in Massachusetts, California and Maryland. Additional information is available at Alpha's website - www.alphaind.com.
Safe Harbor Statement - Except for the historical information contained herein, this news release contains forward-looking statements that constitute the Company's current intentions, hopes, beliefs, expectation or predictions of the future which are, therefore, inherently subject to risks and uncertainties. The Company's actual results could differ materially from those anticipated in the Company's forward-looking statements based on various factors, including without limitation: cancellation or deferral of customer orders, dependence on a small number of large customers, difficulties in the timely development and market acceptance of new products, market developments that vary from the current public expectations concerning the growth of wireless communications, difficulties in manufacturing new or existing products in sufficient quantity or quality, increased competitive pressures, decreasing selling prices for the Company's products, or changes in economic conditions. Further information on factors that could affect the Company's performance is included in the Company's periodic reports filed with the SEC, including but not limited to the Company's Form 10-K for the year ended March 28, 1999, and subsequent Forms 10-Q. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events, conditions or circumstance on which any such statement is based.
CONTACT: Alpha, Inc.
James C. Nemiah, Investor Relations
(617) 824-4426