Lionbridge Returns to Nasdaq National Market
WALTHAM, Mass. — April 8, 2003 — Lionbridge Technologies, Inc. (Nasdaq: LIOX) today announced that it will begin trading on Nasdaq National Market effective at market open today.
Lionbridge elected to move to the Nasdaq SmallCap Market in August of 2002 in lieu of conducting a reverse split to maintain its Nasdaq National Market listing. The Company has since been notified that it now re-qualifies for trading on the Nasdaq National Market.
"Lionbridge is bucking industry trends once again with a move back to the Nasdaq National Market," said Rory Cowan, CEO, Lionbridge. "Unlike many companies, we didn't sacrifice our stockholders' value by conducting a reverse stock split. Our re-listing on the Nasdaq National Market, after only seven months on the Nasdaq SmallCap, underscores that decision. We believe our investors and market makers will benefit from this move. Nasdaq National Market generally offers increased liquidity which should lead to enhanced shareholder value."
About Lionbridge
Lionbridge Technologies, Inc. provides solutions for worldwide deployment of technology and content to global 2000 companies in the technology, life sciences and financial services industries. Lionbridge globalization solutions, testing and compatibility services and multilingual content management technologies help clients reduce cost, speed time to market, and ensure the integrity of global communications. Based in Waltham, Mass., Lionbridge maintains facilities in Ireland, The Netherlands, France, Germany, China, South Korea, Japan, Brazil, and the United States and provides services under the Lionbridge and VeriTest brands. To learn more, visit www.lionbridge.com.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, including those statements relating to expected liquidity and shareholder value. Lionbridge's actual experience may differ materially from those discussed in the forward-looking statements. Factors that might cause such a difference include the termination of customer contracts prior to the end of their term; Lionbridge's dependence on clients' product releases to generate revenues; the loss of a major client; the size, timing and recognition of revenue from major clients; customer delays or postponements of services; the impact of foreign currency fluctuations on its operating results and revenue growth; risks associated with management of growth; as well as risks of downturns in conditions generally, and Lionbridge's ability to forecast financial performance. For a more detailed description of the risk factors associated with Lionbridge, please refer to Lionbridge's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2003.