Business
The Marketing Alliance Announces Financial Results for Its Fiscal 2016 Second Quarter and Six Months Ended September 30, 2015
The Marketing Alliance Announces Financial Results for Its Fiscal 2016 Second Quarter and Six Months Ended September 30, 2015.
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 2016 second quarter and six months \n ended September 30, 2015.\n \n \n Mr. Timothy M. Klusas, TMA’s Chief Executive Officer, stated, “We were \n pleased with increases in revenue for the quarter in our insurance, \n construction and family entertainment businesses. While we did not \n operate these businesses as efficiently as we aspire to do, we continued \n to take steps to improve our effectiveness in each of these businesses \n given the operating environment of each respective business.” Mr. Klusas \n provided additional details below on each of the Company’s operations \n for the second quarter of the fiscal 2015 year:\n \n \n \n Insurance Distribution Business: “While we were pleased with \n increasing revenues in our insurance distribution business, this \n business continued to be negatively impacted by changes in our \n customer mix and adjustments we made to changes among our carriers \n (suppliers). While we worked closely with our network of independent \n brokerage general agents to ensure that they had access to wide range \n of products offered by our carrier network and services that better \n equip their agents to meet their customers’ needs, the aforementioned \n changes caused expenses to increase more than revenues due to the \n investment required to grow our business with a different and new mix \n of carriers and distributors. For example, growth with newer carriers \n required extra expenses to become more familiar with new products to \n drive growth while declines in longer-standing carrier relationships \n reduced revenue where these extra expenses were not required. We are \n proud of our distributors’ effort and commend them for their hard work \n during this challenging business environment, and we continued to seek \n innovative ways to help our distributors grow their business and \n become more efficient.Klusas continued, “Our operating \n income in the insurance distribution business was also affected by \n certain items that had been previously deferred and expensed over the \n course of the prior year that were determined that for 2015 did not \n benefit future quarters, and were expensed in the current quarter. The \n net eff...