OWINGS MILLS, Md., Oct 22, 2010 /PRNewswire via COMTEX News Network/ -- Medifast, Inc. (NYSE: MED), a provider of leading clinically proven portion-controlled weight-loss programs, announced it was named as the #1 Small Company in America by Forbes Magazine in the list of "America's 100 Best Small Companies." This is the third consecutive year that Forbes has recognized Medifast, which advanced to number 16 on the list in 2009, compared to number 85 in 2008.
Michael S. McDevitt, Chief Executive Officer of Medifast, Inc., commented, "We are extremely pleased to be recognized by Forbes for the third consecutive year, and being ranked as the top small company in America is an amazing honor and achievement."
In the article Forbes states, "Rankings are based on earnings growth, sales growth and return on equity in the past 12 months and over five years; we dropped companies with fuzzy accounting or looming legal troubles. We also compared the stock performance of each company with that of its peers. Shares of last year's list members outpaced the Russell by 10 percentage points." Forbes continued, "Medifast is on a tear. Sales have marched north 41% a year over the past five years and earnings per share have increased 35% a year during the same period. The past 12 months have been even better, with sales increasing 69% and earnings jumping 120%."
McDevitt continued, "At Medifast, we feel it is important to celebrate our past achievements while we continue to look forward to create an even brighter future. Recent reports show that the obesity epidemic continues to worsen, costing us billions of dollars in health care a year and resulting in the first generation of children with shorter life expectancy than their parents. We at Medifast are dedicated to restoring the health of this nation, and will do so one successful client at a time. We provide clients a top quality clinically proven product line, and deliver consumer nutrition through four different support channels. This allows clients to select the best program for both their weight loss and weight maintenance needs for long-term optimal health."
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.
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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