Astronova added to Russell 3000 and 2000 Indexes

WEST WARWICK – AstroNova Inc. has been added to both the Russel 3000 index and the Russel 2000 index, as part of the 2019 Russell indexes reconstitution, AstroNova announced Monday.

The Russell indexes include the 4,000 largest U.S. stocks as of May 10, ranked by total market capitalization. AstoNova’s membership in the indexes will remain in place for one year. The company will remain a member of the Russell Microcap Index as well.

The company’s stock was trading at $26 per share as of noon Monday, a 16 cent increase from opening. The company’s market capitalization was $182.2 million at that time.

The company said that the indexes are widely used by investment managers and institutional investors and are considered by some market benchmarks for active investment strategies.

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“Inclusion in the Russell 3000 and 2000 indexes is a milestone in AstroNova’s 50-year history, one that speaks to the consistent, focused execution of our global team in delivering solid operating and financial results,” said Gregory A. Woods, Astronova president and CEO, in a statement. “Our growth has helped to raise our visibility with institutions and investors, and we look forward to building on that momentum as a member of these prestigious financial industry benchmarks.”

AstroNova reported profit of $5.7 million in the fiscal year ended Jan. 31, 2019, a 74.4 percent increase from the previous fiscal year. Earnings per diluted share for the year totaled 81 cents. The company’s total revenue for the fiscal year set a company record at $136.7 million, an increase of 20.5 percent from one year prior.