American Italian Pasta joins Russell 2000 Index - Minneapolis / St. Paul Business Journal:

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The index, part of the , measures performancs of the small-cap segment of U.S. according to the index’s Web site. It includes about 2,0000 of the smallest securities based on a combinatiobn of their market cap and currentindexc membership. The index is intended to provide anunbiasedr small-cap barometer and is reconstituted annually to ensures that larger stocks don’t distorft the performance and characteristics of small-cap stocksw in the index. “Membershiop in the Russell indexes represents anothere milestone in theAIPC story,” American Italian Past CEO Jack Kelly said in a Tuesdahy release. “It recognizes the significant jump in American ItalianPasta Co.
’s market capitalization over the past year. The listiny also provides another level of market visibility for the Membership inthe small-capl Russell 2000 Index automatically includes membershipo in the larger Russell 3000 and Globa indexes. Kansas City-based American Italian Pasta (Nasdaq: AIPC) reportesd that second-quarter earnings were nearly triple thosew from the same period last year and that revenure rose16 percent. In roughly the past year, AIPC has settledx lingering problems stemming from a scheme by former executived to makethe company’s financial reports look good even as salew fell.
The scheme had fallen apart inAugusft 2005, drawing lawsuits, pummeling the stocm price and requiring the company to refil financial statements. American Italian Pasta is the largest produceer of dry pasta inNorth America. The compang has about 650 employees and plants inExcelsiod Springs; Columbia, S.C.; Tolleson, Ariz.; and Verolanuova,