Wesley Chapel, FL, January 29, 2002 -- Louis B. Mendelsohn, President and Chief Executive Officer, today reported that Market Technologies, a privately-held trading software firm, achieved record revenue for the fourth quarter 2001, as well as for the entire year 2001.
Fourth quarter revenue increased 65% over third quarter 2001 revenue, and represented an impressive 227% increase over fourth quarter revenue a year earlier. Revenue for the entire year 2001 was 108% higher than for 2000 revenue and nearly triple that of 1999.
According to Mr. Mendelsohn, the company was "unaffected by the weak economic and financial market conditions throughout 2001". This is attributed to the fact that the company’s trading software program has become widely recognized within the financial industry for its accuracy at forecasting financial markets utilizing intermarket analysis. This approach to technical analysis, based upon over two decades of technical research by Mr. Mendelsohn, is considered critical to successful trading by an increasing number of traders who are looking for a competitive edge in today’s challenging global trading environment.
Additionally, the firm’s growth has been fueled in part by the increased number of traders of exchange traded funds interested in applying the firm’s stock index forecasts to these markets.
"Fourth quarter and full-year revenue performance exceeded our business forecasts and are nothing short of outstanding given the economic climate in 2001, said Michael Mathews, Chief Operating Officer. He voiced confidence that the firm is on track to achieve a substantial increase in annual revenue in 2002, as the firm continues to refine its intermarket models and expand its corporate infrastructure to accommodate the increase in clientele as the firm’s client base continues to grow throughout the world.
Market Technologies is a world pioneer in technical analysis software. Headquartered in Tampa Bay since it was founded in 1979 by Mr. Mendelsohn, with clients in more than thirty countries worldwide, Market Technologies develops proprietary trend forecasting and market timing technologies that utilize intermarket analysis to predict various financial markets, including interest rates, stock indexes, currencies, and the energy complex.