AUSTIN, Texas, June 17, 2014 (GLOBE NEWSWIRE) -- Superconductor Technologies Inc. (Nasdaq:SCON) ("STI"), a world leader in the development and production of high temperature superconducting (HTS) materials and associated technologies, announced it was included in the preliminary list of additions to the Russell Microcap® Index according to information posted by Russell Investments on June 13, 2014. The final 2014 reconstitution of the Russell Indexes will take place after the market closes on June 27, 2014 and final membership lists will be posted on June 30, 2014, with trading in the reconstituted indexes commencing that same day.
The Russell Microcap® Index measures the performance of the microcap segment of the U.S. equity market and is composed of the 1,000 companies with the smallest market capitalization in the Russell 2000® Index, plus the next smallest 1,000 eligible securities by market cap. Inclusion in the Russell Microcap® Index will remain in place for the ensuing 12-month period. The Russell Indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for passive and active investment strategies. According to Russell Investments, $4.1 trillion in institutional assets currently are benchmarked to its indexes. The Russell Microcap® Index is completely reconstituted annually to ensure new and growing equities are reflected and companies continue to reflect appropriate capitalization and value characteristics. http://www.russell.com/indexes/americas/default.page
About Superconductor Technologies Inc. (STI)
Superconductor Technologies Inc., headquartered in Austin, TX, has been a world leader in HTS materials since 1987, developing more than 100 patents as well as proprietary trade secrets and manufacturing expertise. For more than a decade, STI has been providing innovative interference elimination and network enhancement solutions to the commercial wireless industry. The company is currently leveraging its key enabling technologies, including RF filtering, HTS materials and cryogenics to develop energy efficient, cost-effective and high performance second generation (2G) HTS wire for existing and emerging power applications, to develop applications for advanced RF wireless solutions and innovative adaptive filtering, and for government R&D. Superconductor Technologies Inc.'s common stock is listed on the NASDAQ Capital Market under the ticker symbol "SCON." For more information about STI, please visit http://www.suptech.com.
Safe Harbor Statement
Statements in this press release regarding our business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors, which could cause actual results to differ materially from the forward-looking statements. These factors and uncertainties include, but are not limited to: our limited cash and a history of losses; the limited number of potential customers; the limited number of suppliers for some of our components and our HTS wire; there being no significant backlog from quarter to quarter; our market being characterized by rapidly advancing technology; overcoming technical challenges in attaining milestones to develop and manufacture commercial lengths of our HTS wire; customer acceptance of our HTS wire; fluctuations in product demand from quarter to quarter; the impact of competitive filter products, technologies and pricing; manufacturing capacity constraints and difficulties; our ability to raise sufficient capital to fund our operations, and the impact on our strategic wire initiative of any inability to raise such funds; the impact of any such financing activity on the level of our stock price, and local, regional, and national and international economic conditions and events and the impact they may have on us and our customers, such as the current worldwide recession.
Forward-looking statements can be affected by many other factors, including, those described in the "Business" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of STI's Annual Report on Form 10-K for the year ended December 31, 2013 and in STI's other public filings. These documents are available online at STI's website, www.suptech.com, or through the SEC's website, www.sec.gov. Forward-looking statements are based on information presently available to senior management, and STI has not assumed any duty to update any forward-looking statements.
Contact: Investor Relations Contact
Cathy Mattison or Kirsten Chapman
Superconductor Technologies Inc.
Santa Barbara, California, UNITED STATES
Day's Range: 2.42-2.59
Previous Close: 2.60
Market Cap: 33.19M
Day's Volume: 148,653
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