OWINGS MILLS, Md., Aug. 20 /PRNewswire-FirstCall/ -- FORTUNE announced yesterday that Medifast, a leading portion-controlled weight-loss program, is ranked 29th on the 2010 "100 Fastest-Growing Companies" list. The full list and related stories appear in the September 6, 2010, issue of FORTUNE, available on newsstands on Monday, August 23.

FORTUNE Managing Editor Andy Serwer writes in the September 6, 2010, issue, "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."

"We are extremely proud to be recognized by FORTUNE as one of the 100 Fastest-Growing Companies," commented Michael S. McDevitt, Chief Executive Officer, Medifast, Inc. "Everyone at Medifast continues to work tirelessly toward our long-term goal of helping Americans regain control of their health. Medifast is committed to providing clinically proven, innovative and superior quality products to support our multi-platform distribution channels."

Mr. McDevitt continued, "Our business model is demonstrating tremendous results by addressing each individual client's weight-loss and weight-maintenance needs. We look forward to building on this success over the next several years."

Medifast has been recommended by over 20,000 doctors since 1980. Clients can expect to lose up to two to five pounds per week on the Medifast 5 & 1 Plan, which consists of eating five Medifast Meals and one Lean & Green Meal per day. Medifast provides customers over 70 different menu options, as well as a variety of support options to assist customers on their weight-loss journey.

To qualify for FORTUNE'S 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.

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About Medifast:

Medifast (NYSE: MED) is the leading easy-to-use, clinically proven, portion-controlled weight-loss program. Medifast has been recommended by over 20,000 doctors and used by over one million customers since 1980. It is committed to enriching lives by providing innovative choices for lasting health. Medifast programs have been proven effective through studies by major university teaching hospitals. The company sells its products and programs via four unique distribution channels: 1) the web and national call centers, 2) the Take Shape For Life personal coaching division, 3) Medifast Weight Control Centers, and 4) a national network of physicians. Medifast was founded in 1980 and is located in Owings Mills, Maryland. For more information, log onto http://www.choosemedifast.com.

Please Note: This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by use of phrases or terminology such as "intend" or other similar words or the negative of such terminology. Similarly, descriptions of Medifast's objectives, strategies, plans, goals or targets contained herein are also considered forward-looking statements. Medifast believes this release should be read in conjunction with all of its filings with the United States Securities and Exchange Commission and cautions its readers that these forward-looking statements are subject to certain events, risks, uncertainties, and other factors. Some of these factors include, among others, Medifast's inability to attract and retain independent Associates and Members, stability in the pricing of print, TV and Direct Mail marketing initiatives affecting the cost to acquire customers, increases in competition, litigation, regulatory changes, and its planned growth into new domestic and international markets and new channels of distribution. Although Medifast's believes that the expectations, statements, and assumptions reflected in these forward-looking statements are reasonable, it cautions readers to always consider all of the risk factors and any other cautionary statements carefully in evaluating each forward-looking statement in this release, as well as those set forth in its latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and other filings filed with the United States Securities and Exchange Commission, including its current reports on Form 8-K. All of the forward-looking statements contained herein speak only as of the date of this release.

SOURCE Medifast, Inc.

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