Published:
Medifast Named Baltimore SmartCEO Future 50 Company for Second Time
OWINGS MILLS, Md., Jan. 7 /PRNewswire-FirstCall/ -- Medifast, Inc. (NYSE: MED), a leading portion-controlled weight-loss program, today announced they've been named a Future 50 winner by Baltimore SmartCEO magazine. Medifast is a 2007 and 2009 winner of this award.
The Future 50 program recognizes the 50 fastest growing companies in theGreater Baltimore area based on employee and revenue growth. Medifast announced on December 16, 2008 that The Company expects revenues in excess of $100 million for fiscal year 2008; a record for the company.
"Medifast is proud of the year we had in 2008 and we look forward to helping even more Americans regain their health in 2009," said Michael S. McDevitt, Chief Executive Officer Medifast, Inc. "We're honored to be recognized for a second time by Baltimore SmartCEO Magazine."
Medifast is in the midst of 36 consecutive quarters of profitability. The leading driver of revenue growth continues to be the company's direct sales segment, Take Shape For Life, which through September 30, 2008 experienced revenue increases of 77%, comprising 44% of year-to-date revenues. The Company expects financial results for the fourth quarter and year-end to be reported in early March 2009.
"Each Future 50 winner has effectively translated their passion and innovation into tremendous growth and success," says Craig Burris, Publisher at SmartCEO Magazine. "We are honored to recognize the 55 fastest growing companies in Greater Baltimore."
Winners will be recognized at the Baltimore SmartCEO Future 50 event, scheduled for Jan. 8, 2009, at the Baltimore Marriott Waterfront Hotel.
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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 15,000 physicians and used by over one million customers. 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 direct-selling division, 3) national network of physicians, and 4) medically supervised Medifast Weight Control Centers. Medifast was founded in 1980 and is located inOwings Mills, Maryland. For more information, log onto http://www.choosemedifast.com.
SOURCE Medifast, Inc.
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