Allegiant Travel Co. again gains Fortune recognition

For the second year in a row, Allegiant Travel Co. made Fortune magazine's list of 100 fastest-growing companies, but its ranking slipped.

This year, Allegiant, which operates discount carrier Allegiant Air, ranked 64th in sales growth and 56th in earnings per share. This came after reaching 47th in sales and 20th in earnings last year, but missing the list entirely in 2009.

It was the only Nevada-based company to make the list, which ranks public companies over a trailing three-year span.

Because it has throttled back expansion much of this year, Allegiant could be hard-pressed to return to next year's list. During this year's first half, revenues rose 16.5 percent as the company raised fares to cover higher fuel costs, but earnings per share fell 23.6 percent.