Business
The Marketing Alliance Announces Financial Results for Its Fiscal 2018 First Quarter Ended June 30, 2017
The Marketing Alliance Announces Financial Results for Its Fiscal 2018 First Quarter Ended June 30, 2017.
About this update from Marketing Alliance, Inc. (the)
[{"type":"text","content":"\n \n The Marketing Alliance, Inc. (OTC:MAAL) (“TMA”), today announced \n its fiscal 2018 first quarter ended June 30, 2017 financial results.\n \n \n Timothy M. Klusas, TMA’s Chief Executive Officer, commented, “We were \n pleased with the increases in net income, revenue and EBITDA reported \n over the prior year and remain focused on execution in the fiscal year \n ahead to convert revenue growth into bottom line results.”\n \n \n “We were able to grow our revenue by reinvesting in the insurance \n business over the last few months by bringing new carriers to our \n distributors with new products for them to offer to their producers. As \n we have described in the past, the time required to make new carriers \n productive within our business model has an adverse effect on profit \n margins as we are build up their sales and our resulting commissions \n from less optimal levels of production to more beneficial levels. Over \n time, our goal is to be significant enough to the carrier to work \n closely with them on marketing, distribution, and business development. \n Our time since March 2016, when one of our historically significant \n carrier relationships (Genworth) ceased issuing new policies, has been \n focused on creating these new opportunities. TMA remained committed to \n offering our distributors a wide variety of products from a diverse \n network of carriers and continued to support a multi-carrier digital \n platform for life insurance applications, which we felt would become \n more accepted in the industry and provide a competitive advantage for \n our distributors as we add carriers and work to improve the process. \n With respect to annuity sales and as previously noted, the Department of \n Labor’s Fiduciary ruling continued to adversely affect our annuity \n business due to uncertainty about its final form.”\n \n \n “For our construction business, we were able to grow revenue by over 40% \n versus the comparable quarter last year, despite continued weakness in \n the agriculture market, by our focus on an application new to our \n company that provides drainage for roadway projects. This new effort was \n due to the company remaining flexible in finding new ways to utilize our \n equipment during the down business cycle in agricultural markets (caused \n...