VantagePoint : Market Technologies, LLC Announces Record 3rd Quarter Revenue
Company News and Press Releases
Market Technologies Announces Record 3rd Quarter Revenue
Wesley Chapel, FL, November 3, 2003 — Louis B. Mendelsohn, President and Chief Executive Officer, today reported that Market Technologies, a privately-held trading software firm, achieved record third quarter revenue and record revenue for the nine month period ended September 30, 2003, through the licensing of its flagship trading software program, VantagePoint Intermarket Analysis Software.
This is the third consecutive quarter in 2003 in which the Company has achieved record revenue. Third quarter revenue represented a 2% increase over the second quarter’s previous record setting amount, and an 11% increase over the first quarter 2003. On a year-over-year basis, 3Q 2003 revenue was 11% higher than the same quarter last year, while revenue for the first nine months of 2003 was 24% higher than for the same period in year 2002. This is in-line with revenue expectations for 2003, which forecast a 25% increase in annual revenue for 2003 over 2002.
Mr. Mendelsohn attributes the record revenue to two related factors. First, more traders realize that single-market approaches to technical analysis have not kept pace with the global nature of today’s markets, and secondly, traders are looking for broader approaches that incorporate the effects of related markets, to gain a competitive advantage in today’s markets. The firm’s product, VantagePoint, fills this niche in the trading software industry and has been recognized as the leading intermarket analysis software program in the industry.
“We are on-target to achieve our projected revenue growth for 2003, despite continued uncertainty in the economy as well as in the financial markets themselves,” said Michael Mathews, Chief Operating Officer. He reaffirmed guidance that as the firm approaches its 25th anniversary in 2004, its growth would continue to be managed in a disciplined, deliberate manner, so that the firm continues to maintain its premier position and reputation in the financial software industry.
Market Technologies is a world leader in technical analysis software development. Headquartered in Tampa Bay since it was founded in 1979 by Mr. Mendelsohn, with customers in more than forty countries worldwide, Market Technologies develops proprietary trend forecasting and market timing technologies that utilize intermarket analysis to predict forty-three actively-traded commodity and financial futures markets, including interest rates, stock indices, currencies, grains, metals, softs, and energy markets. The company’s software trading program, VantagePoint, which pioneered intermarket analysis through the use of neural networks when it was first released in 1991, performs trend forecasting utilizing intermarket pattern recognition.