The business news recently has been dominated by headlines that characterize the US economy more as “gloom and doom” rather than “boom and bloom.” Reports of sub-prime lending woes, lower consumer confidence, a near free fall in the housing market and various product recalls have cast a cloud over many companies. However, there are a number of companies thriving in this turbulent environment and the top 100 performers were noted in Fortune Magazine’s 100 Fastest-Growing Companies.The top ten includes

1.  NutriSystem Inc. (NASDAQ:NTRI)

2.  Hansen Natural Corporation  (NASDAQ:HANS)

3.  Arena Resources, Inc.  (NYSE:ARD)

4.  Intuitive Surgical, Inc.  (NASDAQ:ISRG)

5.  Titanium Metals Corporation  (NYSE:TIE)

6.  Apple Inc.  (NASDAQ:AAPL)

7.  RTI International Metals, Inc. (NYSE:RTI)

8.  Dynamic Materials Corporation  (NASDAQ:BOOM)

9.  Southern Copper Corporation (USA)  (NYSE:PCU)

10. Global Industries, Ltd.  (NASDAQ:GLBL)

Pretty cool stuff for NutriSystem Inc. (NASDAQ:NTRI), a company that has been in business for 35 years.

If you don’t see your company on the list, does not mean it is not a high growth company. The universe of candidates for this list is quite narrow given the scope of the business world. For example, to be considered by Fortune as one of the 100 Fastest-Growing Companies, your company must:

• be incorporated in the U.S.
• be a public company with a minimum market capitalization of $250 million
• have a stock price of at least $5
• have been trading continuously since June 30, 2004
• have revenue and net income for the four quarters ended on or before May 31, 2007, of at least $50 million and $10 million, respectively
• have posted a compound annual growth in revenue and earnings per share of at least 25% annually over the three years ended on or before May 31, 2007.

Still it is interesting to see what industries and companies are winning. Most of them are probably internet or technology companies right?  Surprisingly not so.

The vast majority of these companies are industrial businesses. In fact, three of the top ten were related to metals used in industrial production such as defense, aerospace and power generation.

5.  Titanium Metals Corporation  (NYSE:TIE)

7.  RTI International Metals, Inc. (NYSE:RTI)

8.  Dynamic Materials Corporation  (NASDAQ:BOOM)

While number nine, Southern Copper Corporation (USA)  (NYSE:PCU), produces copper. In all there were eight materials companies found on the 100 Fastest-Growing Companies.

But, the real story is energy. Thirty-seven out of 100 companies listed were energy businesses. Two in the top 10

3.  Arena Resources, Inc.  (NYSE:ARD)

10. Global Industries, Ltd.  (NASDAQ:GLBL)

One can only guess that these businesses will continue to post high growth serving a world that demands more and more energy.

Let me proudly note that a company for which I took public as an investment banker in the mid 1990s made the list at 91 – Deckers Outdoor Corporation   (NASDAQ:DECK)– famous for TEVA sport sandals (pronounced TehVah), UGG boots and Simple shoes. Nice job Doug.