VantagePoint : Market Technologies, LLC Announces Record Third Quarter Revenue
Company News and Press Releases
Market Technologies Announces Record Third Quarter Revenue
Wesley Chapel, FL, October 15, 2004 — Louis B. Mendelsohn, President and Chief Executive Officer of Market Technologies, a privately-held firm and the leading provider of intermarket analysis futures trading software, announced today that the company achieved record revenue for the third quarter ended September 30, 2004. He indicated that “on a year-over-year basis 3Q 2004 revenue was 7% higher than the same quarter in 2003”.
Mr. Mendelsohn also noted that “for the first 9 months of 2004, revenue is up more than 35% over the first 9 months of 2003, which itself was a record period.” He indicated that “as global markets such as crude oil continue to command the attention of traders all over the world and intermarket analysis becomes more recognized by traders as a critical element necessary for successful trading, there has been an increasing interest among futures and commodities traders in our VantagePoint software.” “This,” he continued, “coupled with an expansion in our marketing programs, has greatly increased awareness of the value of our software to futures and commodities traders around the world.”
“The third quarter was a very challenging quarter for us, so we are extremely pleased to have been able to produce record revenue,” stated Michael P. Mathews, Chief Operating Officer. He noted that the company had to close its offices on three separate occasions this quarter due to the impending threats of the hurricanes that hit this area of Florida. “Fortunately, we sustained no physical damage to our offices. Nevertheless, the hurricanes put a tremendous amount of stress on our staff and their families, but our employees were able to stay focused to make sure our customers got the support they needed, and operations continued with as little disruption as possible. I’m very pleased and proud of the work they did under these difficult circumstances.” Mr. Mathews also indicated that given the record pace of growth this year to date, Market Technologies is assured of another record year for 2004.
Headquartered in Tampa Bay since it was founded in 1979 by Mr. Mendelsohn, with software customers in over fifty 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.