Allegiant makes Fortune listing

Staff report

LAS VEGAS

Fortune magazine has ranked Allegiant Travel Co. No. 25 on the 2010 “100 Fastest-Growing Companies” list. The annual list recognizes the company’s revenue growth and financial stability.

Allegiant offers flights between the Youngstown-Warren Regional Airport and Orlando, Fla., and Myrtle Beach, S.C.

“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,” said Andrew C. Levy, Allegiant president. “We thank our customers for their continued support of our travel services.”

To qualify for the list of 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 also must 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. The company also must have posted an annualized growth in revenue and earnings per share of at least 15 percent annually over the three years ended on or before April 30, 2010.

Allegiant also was recently ranked No. 1 globally for low-cost carriers in Aviation Week’s 2010 study of top-performing airlines.