VantagePoint : Market Technologies, LLC Announces Record 2nd Quarter Revenue
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Market Technologies Announces Record 2nd Quarter Revenue
Wesley Chapel, FL, July 18, 2003 — Louis B. Mendelsohn, President and Chief Executive Officer, today announced that Market Technologies, a privately-held financial trading software firm, achieved record revenue from the licensing of its flagship trading software program, VantagePoint, for the second quarter ended June 30, 2003.
Mr. Mendelsohn indicated that “on a year-over-year basis 2Q 2003 revenue was 31% higher than 2Q 2002 revenue. Additionally, 2Q 2003 revenue increased 10% over first quarter 2003 revenue”. When looked at on a six-month basis, the first-half revenue 2003 was 47% higher than first-half revenue 2002. According to Mr. Mendelsohn “based on planning expectations and first-half revenue, the firm is on track to achieve record-breaking annual revenue in 2003 for the fifth year in a row”.
Michael Mathews, Chief Operating Officer, added that “fiscal year 2003 annual revenue is expected to exceed the previously record breaking revenue of 2002 by approximately 25%”. He indicated that his focus for the remainder of 2003 will be directed toward expanding the company’s organizational infrastructure as well as its physical facilities, including its information management computer systems as the firm continues to hire staff necessary to accommodate the increase in trading software customers throughout the world.
Mr. Mathews emphasized that as Market Technologies approaches its 25th anniversary in 2004, its growth would be managed in a very deliberate manner, so that the firm continues to maintain its position of stature in the financial software industry.
Market Technologies is a world pioneer in technical analysis trading software. Headquartered in Tampa Bay since it was founded in 1979 by Mr. Mendelsohn, with software customers in more than forty countries worldwide, Market Technologies develops proprietary trend forecasting and market timing technologies that utilize intermarket analysis through the use of neural networks to forecast forty-three domestic and international financial and commodities markets, including interest rates, stock indexes, currencies, grains, metals, softs, and energies.