Business
The Marketing Alliance Announces Financial Results for Its Fiscal 2015 First Quarter Ended June 30, 2014
The Marketing Alliance Announces Financial Results for Its Fiscal 2015 First Quarter Ended June 30, 2014.
About this update from Marketing Alliance, Inc. (the)
[{"type":"text","content":"\n \n The Marketing Alliance, Inc. (OTC:MAAL) (“TMA”), today announced \n financial results for its fiscal 2015 first quarter ended June 30, 2014.\n \n \n Mr. Timothy M. Klusas, TMA’s Chief Executive Officer, stated, “We are \n pleased to report increases in operating income, operating EBITDA \n (excluding investment portfolio income) and net income. As we detailed \n in our prior update, our businesses continued to encounter challenges \n within their respective industries. We have attempted to rationalize \n some of our expenses to better meet demand and improve our businesses' \n respective positioning in the current market.”\n \n \n Mr. Klusas provided additional details below on each of the Company’s \n operations for the first quarter of the fiscal 2015 year:\n \n \n \n Insurance Distribution Business: “We continued to work closely \n with our long-time existing and recently added carriers to properly \n communicate their product’s value proposition among our distribution \n network. We recognized that this is a process that takes time, \n especially as carriers have continued to shift product structures in \n recent months to better adjust for the prevailing low-interest rate \n environment. This caused short term inefficiencies as our new \n relationships replace older ones. In addition, we saw distributors and \n their agents gain traction in life insurance sales as other product \n changes and industry distractions, such as the implementation of a new \n health care system, moved more to the background. While these factors \n still persist, the volatility of these associated changes seems to \n have, at least temporarily, reduced. This continues to be an ongoing \n effort, but we are pleased with the progress of our distributors in \n our network.”\n \n \n Earth Moving and Excavating Business: “This business continued \n to be challenged due to adverse weather (rain) and low crop prices, \n particularly corn and soybeans. Because crop prices drive the \n customers’ revenue that ultimately funds our services, we saw some \n projects were deferred until later in the year. We have been \n attempting to rationalize our cost base in this business to better \n respond to current crop prices.”\n \n \n Entertainment (Monkey Joe’s) Facilities: “...