Allegiant Travel Company Named One of Fortune's '100 Fastest-Growing Companies'
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.
FORTUNE announced that Allegiant Travel Company (Nasdaq: ALGT), has been ranked number 25 on the 2010 "100 Fastest-Growing Companies" list. The annual list recognizes the company's revenue growth and financial stability.
"The troubled economy is on all of our minds these days, but sometimes we forget that even in the long slog we seem to be in, entrepreneurs are hard at work creating the next Cisco or Amgen or Starbucks," FORTUNE Managing Editor, Andy Serwer, writes in the Sept. 6, 2010, issue.
"We're honored to be recognized as one of FORTUNE's '100 Fastest Growing Companies'," said Maurice J. Gallagher, Jr., Allegiant Chairman and CEO. "It is a testament to the hard work of our employees, who make Allegiant an innovative and profitable company."
"Our ability to continually grow and add routes is a result of our strong financial health and unique business model," Andrew C. Levy, Allegiant President, said. "We thank our customers for their continued support of our travel services."
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.
