Business
The Marketing Alliance Announces Financial Results for Its Fiscal 2019 First Quarter Ended June 30, 2018
The Marketing Alliance Announces Financial Results for Its Fiscal 2019 First Quarter Ended June 30, 2018.
About this update from Marketing Alliance, Inc. (the)
[{"type":"text","content":"\n \n The Marketing Alliance, Inc. (OTC:MAAL) (“TMA” or the “Company”), today \n announced financial results for its fiscal 2019 first quarter ended June \n 30, 2018.\n \n \n FY 2019 Financial Highlights (all comparisons to the prior year)\n \n \n \n Revenues increased 6.5% to $7,910,668, largely due to higher \n commission and fee revenue in the insurance business and a 23% \n increase in construction revenue versus the prior year quarter\n \n \n Operating loss was ($174,686), as compared to operating loss of \n ($7,760) in the prior year period, the difference was primarily due to \n increases in expenses in the family entertainment business \n specifically to grow revenue\n \n \n Operating EBITDA (excluding investment portfolio income) was $4,654 \n compared to $184,410\n \n \n Net loss was ($156,792), or ($0.02) per share, as compared to net \n income of $66,898, or $0.01 per share\n \n \n \n Management Comments\n \n \n Timothy M. Klusas, TMA’s Chief Executive Officer, commented, “We \n continued to be supported by a robust network of carriers and \n independent brokerage general agencies, which helped to drive higher \n revenues in our insurance distribution business. We saw increased \n distributor adoption of our digital application platform designed to \n improve the client experience, improve agent efficiency, and reduce an \n agent’s time to complete a life insurance application. Also, as we \n continued to grow revenue with new carriers, our expenses increased more \n than our revenues increased in the quarter, due to our reinvesting in \n the business to drive growth. As for construction, while we saw revenues \n increase this quarter due to new customers and applications in our \n construction business, some additional projects were rescheduled to \n start after the end of the quarter which adversely affected our gross \n profit (construction net operating revenue) in this quarter as we ramped \n up activity to start jobs that actually started after the end of the \n quarter. Lastly, we continued to work diligently to grow the family \n entertainment business by reinvesting in the business through \n improvements and new staffing plans to focus more on the customer. The \n new staffing plans increased compensation expense by approximately \n $110,000 in the quarter by adding...