Fortune announced that Allegiant Travel Company (NASDAQ: ALGT), has been ranked number 64 on the 2011 100 Fastest-Growing Companies list. The annual list recognizes the company’s revenue growth and financial stability. This is the second consecutive year Allegiant has been recognized.
Allegiant was also ranked number 56 in profit growth with an earnings growth of 41% over a three-year period and number one in the Transportation category.
“It is a distinction and honor to be included for a second year in a row in ‘Fortune’s 100 Fastest- Growing Companies’,” said Maurice J. Gallagher, Jr., Allegiant Chairman and CEO. “For more than 10 years Allegiant and its team members have provided safe, reliable and low cost air service to our many cities around the US. Our success is a great complement to their hard work and dedication.”
“Holding true to our unique business model has been the corner stone of our success,” Andrew C. Levy, Allegiant President, said. “It has allowed us to grow and remain profitable in a turbulent economy. Our customers are vital ingredients in our success and we thank them for their continued support of our travel and vacation options. At Allegiant, we strive each and every day to provide value for our customers by offering great fares and vacation options to the world-class leisure destinations we serve.”
To qualify for 100 Fastest-Growing Companies, foreign or domestic companies had to meet the following criteria: be trading on a major U.S. stock exchange; file quarterly reports with the SEC; have a minimum market capitalization of $250 million and a stock price of at least $5 on June 30, 2010; and have been trading continuously since June 30, 2007. The company must also have revenue and net income of at least $50 million and $10 million, respectively, for the four quarters ended on or before April 30, 2010. Finally, the company must have posted an annualized growth in revenue and earnings per share of at least 15% annually over the three years ended on or before April 30, 2010.
Companies that meet the above criteria were ranked by revenue growth rate; EPS growth rate; and three-year annualized total return for the period ended June 30, 2010. (To compute the revenue and EPS growth rates, FORTUNE uses a trailing four quarters log linear least square regression fit.) The overall rank was based on the sum of the three ranks. Once the 100 companies were identified, they were then re-ranked within the 100, using the three equally weighted variables. If there is a tie, the company with the larger four-quarter revenue receives the higher rank.
The full list and related stories will appear in the Sept. 26, 2011, issue of FORTUNE. A complete list can be found at: http://money.cnn.com/magazines/fortune/fortunefastestgrowing/2011/full_list/
About Allegiant Travel Company
Las Vegas-based Allegiant Travel Company (NASDAQ: ALGT) has posted 34 consecutive quarters of profitability. The company is focused on linking travelers in small cities to world-class leisure destinations such as Fort Lauderdale, Fla., Las Vegas, Los Angeles, Phoenix-Mesa, Orlando, Fla., and Tampa/St. Petersburg, Fla. Through its subsidiary, Allegiant Air, the company operates a low-cost, high-efficiency, all-jet passenger airline offering air travel and hotel rooms, rental cars and other travel-related services. In 2011 and 2010 Allegiant ranked 64 and 25, respectively, on FORTUNE magazine’s Fastest-Growing Companies list. In 2010, Allegiant was ranked number one for low-cost carriers in Aviation Week’s Top Performing Airline study. Receive breaking news from Allegiant by visiting Allegiant’s Facebook Fan Page at www.facebook.com/Allegiant or follow Allegiant on Twitter at twitter.com/allegianttravel.