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.
MED-G
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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