Business
The Marketing Alliance Announces Financial Results for Its Fiscal 2018 Third Quarter and Nine Months Ended December 31, 2017
The Marketing Alliance Announces Financial Results for Its Fiscal 2018 Third Quarter and Nine Months Ended December 31, 2017.
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 2018 third quarter and nine months \n ended December 31, 2017.\n \n \n Timothy M. Klusas, TMA’s Chief Executive Officer, commented, “We were \n pleased with our results as the construction and insurance distribution \n businesses posted increased revenues in the quarter, and the family \n entertainment business had only a slight decrease in revenue for the \n three-month period. The increase in revenues for the insurance business \n was due in part to the continued adoption of digital applications by our \n distributors, as more agents began using the digital platform to submit \n applications. We also saw revenue growth through increased revenues with \n new carrier relationships such as Pacific Life, a relationship which we \n initiated last year. The increase in revenues, however, was partially \n offset by challenges in the annuity portion of insurance distribution \n business as the US Department of Labor Fiduciary Rule continued to cause \n uncertainty in the future distribution of annuities, which we felt \n depressed sales of annuities in the quarter and the calendar year. The \n end of the calendar year is significant this quarter since many annuity \n sales compensation programs are aligned with the calendar, so this \n quarter would have historically included normalized year end \n compensation payments to our company and distributors. Revenues \n increased in the construction business as this quarter included the \n completion of projects undertaken earlier in the year, especially in new \n areas for this business such as roadway construction, as opposed to \n being limited exclusively to agricultural projects as in prior years. \n Finally, in the family entertainment business we started to see some of \n the benefits of our new pricing this quarter, as the revenue deficit \n narrowed this quarter compared to previous ones earlier in the fiscal \n year.”\n \n \n Fiscal 2018 Third Quarter Financial Review\n \n \n \n Total revenues for the three-month period ended December 31, 2017, \n were $7,555,686 as compared to $6,784,366 in the prior year quarter. \n This was due to increases in commission and construction revenue for \n the period which offset a decrease in family entertainmen...