Wesley Chapel, FL, April 26, 2005 -- Louis B. Mendelsohn, President and Chief Executive Officer, today reported that Market Technologies, a privately-held trading software firm, achieved record quarterly revenue for the first quarter ended March 31, 2005. Compared to 2004 1Q revenue, Mr. Mendelsohn indicated that "on a year-over-year basis, 2005 1Q revenue was 15% higher than the same quarter in the prior year, which itself had been a record-setting quarter at that time." He also noted that 2005 1Q revenue was 6% higher than 2004 4Q revenue, which through the end of 2004, was the then-highest quarterly revenue in the company's history."
Mr. Mendelsohn has attributed the continued increase in company revenue to the worldwide demand by individual traders for Market Technologies' flagship software product, VantagePoint Intermarket Analysis Software. Not only are more traders using VantagePoint than ever before, but word-of-mouth advertising is also on the rise as VantagePoint clients are sharing their excitement about the software's predictive accuracy with other traders. More and more traders are finding VantagePoint to be a powerful tool in guiding them through the uncertainties of the global trading environment.
Additionally, Mr. Mendelsohn indicated that Market Technologies has substantially increased its staff since the first of the year in all departments, including Technical Support, Administration, Research & Development, Sales, and Marketing, in order to continue to provide the highest quality software and highest level of support services to its clients. Further, Mr. Mendelsohn indicated that the company is continuing to make progress, working with a nationally recognized architectural firm on the design of its new state-of-the-art office building, which the company will relocate to in 2006.
About Market Technologies
Headquartered in Tampa Bay since it was founded in 1979 by Mr. Mendelsohn, with software clients 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 and commodities markets.