Lincoln Educational Services Added to Russell 3000® Index
26 Junho 2023 - 10:16AM
Lincoln Educational Services Corporation (Nasdaq:
LINC), a leading provider of specialized technical
training, including automotive technology, the skilled trades,
healthcare, IT, culinary, and cosmetology, announces that it has
been added to the broad-market Russell 3000® Index, effective today
after the US markets open, as part of the 2023 Russell Indexes
reconstitution
“We are pleased that Lincoln Educational Services was added to
the Russell 3000 Index, which I believe is a recognition of the
business momentum we have generated and our ability to achieve the
key operating objectives we have established,” commented Scott
Shaw, Lincoln Tech’s President and Chief Executive Officer.
“For over 75 years Lincoln Tech graduates have filled critical
roles essential to maintaining a strong US economy and, as our
country continues its commitment to major investments in our
infrastructure and expanding the availability of green energy, the
need for our highly skilled graduates has never been greater.
In addition, more students are looking for alternatives to a four
degree which is often very expensive with uncertain job
opportunities for many upon graduation. Lincoln offers accelerated,
cost-effective programs with curriculums designed with the help of
industry so students graduate within about one year with career
skills that are in demand. We continue to see opportunities for
growth and will utilize our strong debt-free balance sheet to add
more programs and open new campuses in order to meet employer
demand.”
Shaw added, “Our inclusion in the Russell Index will generate
increased interest and liquidity in our shares as we continue to
enhance shareholder equity.”
Membership in the Russell 3000 Index means automatic inclusion
in the large-cap Russell 1000® Index or small-cap Russell 2000®
Index as well as in the appropriate growth and value style indexes.
The Russell 3000 Index encompasses the 3,000 largest U.S.-traded
stocks by objective, market-capitalization rankings, and style
attributes. Membership in these indexes is updated annually and
remains in place for one year.
The Russell Indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $12.1 trillion in
assets are benchmarked against Russell's U.S. indexes. Russell
Indexes are part of FTSE Russell, a leading global index
provider.
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About FTSE Russell
FTSE Russell is a global index leader that provides innovative
benchmarking, analytics and data solutions for investors worldwide.
FTSE Russell calculates thousands of indexes that measure and
benchmark markets and asset classes in more than 70 countries,
covering 98% of the investable market globally. FTSE Russell index
expertise and products are used extensively by institutional and
retail investors globally. Approximately $20.1 trillion is
currently benchmarked to FTSE Russell indexes. For over 30 years,
leading asset owners, asset managers, ETF providers and investment
banks have chosen FTSE Russell indexes to benchmark their
investment performance and create ETFs, structured products and
index-based derivatives. A core set of universal principles guides
FTSE Russell index design and management: a transparent rules-based
methodology is informed by independent committees of leading market
participants. FTSE Russell is focused on applying the highest
industry standards in index design and governance and embraces the
IOSCO Principles. FTSE Russell is also focused on index innovation
and customer partnerships as it seeks to enhance the breadth, depth
and reach of its offering. FTSE Russell is wholly owned by London
Stock Exchange Group. For more information on the Russell indexes
reconstitution, go to the “Russell Reconstitution” section on the
FTSE Russell website.
About Lincoln Educational Services Corporation
Lincoln Educational Services Corporation is a leading
provider of diversified career-oriented post-secondary education.
Lincoln offers recent high school graduates and working adults
career-oriented programs in five principal areas of study:
automotive technology, health sciences, skilled trades, business
and information technology, and hospitality services. Lincoln has
provided the workforce with skilled technicians since its inception
in 1946.
Lincoln currently operates 22 campuses in 14 states under four
brands: Lincoln Technical Institute, Lincoln College of
Technology and Euphoria Institute of Beauty Arts and
Sciences. Lincoln also operates Lincoln Culinary
Institutes in
both Maryland and Connecticut.
For more information, go to www.LincolnTech.edu
Forward-Looking Statements
Statements in this press release and in oral statements made
from time to time by representatives of Lincoln Educational
Services Corporation regarding Lincoln’s business that are not
historical facts, including those made in a conference call, may be
“forward-looking statements” as that term is defined in the federal
securities law. The words “may,” “will,” “expect,” “believe,”
“anticipate,” “project,” “plan,” “intend,” “estimate,” and
“continue,” and their opposites and similar expressions are
intended to identify forward-looking statements. Forward-looking
statements are based on information available at the time those
statements are made and/or management’s good faith belief as of
that time with respect to future events, and are subject to risks
and uncertainties that could cause actual performance or results to
differ materially from those expressed in or suggested by the
forward-looking statements. Forward-looking statements should not
be read as a guarantee of future performance or results and will
not necessarily be accurate indications of the times at, or by,
which such performance or results will be achieved, if at
all. Generally, these statements relate to business plans or
strategies and projections involving anticipated revenues, earnings
or other aspects of the Company’s operating results. Such
forward-looking statements include the Company’s current belief
that it is taking appropriate steps regarding the pandemic and that
student growth will continue. The Company cautions you that these
statements concern current expectations about the Company’s future
performance or events and are subject to a number of uncertainties,
risks and other influences many of which are beyond the Company’s
control, that may influence the accuracy of the statements and the
projects upon which the statements are based including, without
limitation, impacts related to the COVID-19 pandemic, our inability
to close on the sale of our Nashville campus; our failure to comply
with the extensive regulatory framework applicable to our industry
or our failure to obtain timely regulatory approvals in connection
with acquisitions or a change of control of our Company; our
success in updating and expanding the content of existing programs
and developing new programs for our students in a cost-effective
manner or on a timely basis; risks associated with changes in
applicable federal laws and regulations; uncertainties regarding
our ability to comply with federal laws and regulations, such as
the 90/10 rule and prescribed cohort default rates; risks
associated with the opening of new campuses; risks associated with
integration of acquired schools; industry competition; our ability
to execute our growth strategies; conditions and trends in our
industry; the COVID-19 pandemic and its impact on our business and
the U.S. and global economics; general economic conditions; and
other factors discussed in the “Risk Factors” section of our Annual
Reports and Quarterly Reports filed with the Securities and
Exchange Commission. All forward-looking statements are
qualified in their entirety by this cautionary statement, and
Lincoln undertakes no obligation to publicly revise or update any
forward-looking statements, whether as a result of new information,
future events or otherwise after the date hereof.
Peter Tahinos
Lincoln Educational Services
PTahinos@lincolntech.edu
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