updated 11/10/2010 4:17:34 PM ET 2010-11-10T21:17:34

LAS VEGAS, Nov. 10, 2010 (GLOBE NEWSWIRE) -- Forbes magazine has once again named Allegiant Travel Company (Nasdaq:ALGT) one of "America's 100 Best Small Companies." The list, which appeared in the Nov. 8 issue of Forbes, recognizes businesses with remarkable sales and earnings growth. 

"We're proud to be recognized by Forbes for the second year in a row," said Maurice J. Gallagher Jr., Allegiant Chairman and CEO. "Our innovative business model has enabled us to remain profitable for 31 consecutive quarters. We have extended our service offerings to more than 70 communities, bringing our unique low-cost travel option to millions of additional people across the U.S. We thank our customers for their continued support and our team members for their hard work and dedication."

According to Forbes, "Our list of the 100 Best Small Companies in America assembles outfits with remarkable sales and earnings growth. Candidates must have been publicly traded for at least a year, pull in annual revenue between $5 million and $1 billion and boast a stock price no lower than $5 a share. (We excluded financial institutions, REITs, utilities and limited partnerships.) The rankings are based on earnings growth, sales growth and return on equity in the past 12 months and over five years; we dropped companies that are thinly traded and those with fuzzy accounting or major legal troubles. We also factored in the stock performance of each company compared with that of its peers. Shares of last year's members outpaced the Russell 2000 small-company index by an average of 3 percentage points."

The full list and related stories appear in the Nov. 8, issue of FORBES, available on newsstands or at http://www.forbes.com/lists/2010/23/best-small-companies-10_rank.html .

The company ranked number two in Forbes' Best Small Companies 2009 list and number 33 in the 2010 list. Allegiant was also recently ranked number one globally for low-cost carriers in Aviation Week's 2010 Top Performing Airline study, as well as number 25 on FORTUNE magazine's Fastest-Growing Companies list. 

Allegiant, travel is our deal.

Las Vegas-based Allegiant Travel Company (Nasdaq:ALGT), is focused on linking travelers in small cities to world-class leisure destinations such as Fort Lauderdale, Fla., Las Vegas, Los Angeles, Phoenix-Mesa, Orlando, Fla., and Tampa/St. Petersburg, Fla.  Through its subsidiary, Allegiant Air, the company operates a low-cost, high-efficiency, all-jet passenger airline offering air travel both on a stand-alone basis and bundled with hotel rooms, rental cars and other travel-related services. In 2010, Allegiant was ranked number one for low-cost carriers in Aviation Week's Top Performing Airline study and ranked 25 on FORTUNE magazine's Fastest-Growing Companies list. Receive breaking news from Allegiant by visiting Allegiant's Facebook Fan Page at www.facebook.com/Allegiant or follow Allegiant on Twitter at twitter.com/allegiantair

The Allegiant Travel Company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8305

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