VantagePoint : Market Technologies Announces Record 1st Quarter Revenue
Company News and Press Releases
Market Technologies Announces Record 1st Quarter Revenue
Wesley Chapel, FL, April 21, 2003 — Louis B. Mendelsohn, President and Chief Executive Officer, today reported that Market Technologies, a privately-held trading software firm, achieved record revenue for the first quarter ended March 31, 2003.
Mr. Mendelsohn indicated that “on a year-over-year basis 1Q 2003 revenue was 71% higher than the same quarter in the prior year and more than triple that of 2001.” This tremendous increase was due in part to the introduction of Version 6.0 of the firm’s flagship software product, VantagePoint Intermarket Analysis Software, which added commodity markets covering the metals, grains, meats, and softs to the financial futures markets already covered in Version 5.0.
Michael Mathews, Chief Operating Officer, stated that “fiscal year 2003 annual revenue is expected to increase by more than 25% over the previously record breaking revenue of 2002. While our client base of financial futures traders continues to grow at record rates, the addition of the new commodity markets makes the forecasting power of VantagePoint available to a large population of traders who trade markets previously not covered by VantagePoint.” He added, ” in addition, a large number of our current clients also trade these commodity markets, and are adding the new markets to their VantagePoint arsenal.”
Market Technologies is a world pioneer in technical analysis software. Headquartered in Tampa Bay since it was founded in 1979 by Mr. Mendelsohn, with software clients in more than forty countries worldwide, Market Technologies develops proprietary trend forecasting and market timing technologies that utilize intermarket analysis to forecast various financial and commodity markets, including interest rates, stock indexes, currencies, energies, metals, grains, meats, and softs covering a total of 43 financial futures and commodities markets.