Business
The Marketing Alliance Announces Financial Results for its Fiscal 2019 Fourth Quarter and Year Ended March 31, 2019
The Marketing Alliance Announces Financial Results for its Fiscal 2019 Fourth Quarter and Year Ended March 31, 2019.
About this update from Marketing Alliance, Inc. (the)
[{"type":"text","content":"\nThe Marketing Alliance, Inc. (OTC: MAAL) (“TMA” or the “Company”), today announced financial results for its fiscal 2019 fourth quarter and year ended March 31, 2019.\n\n\nFY 2019 Fourth Quarter Financial Highlights (all comparisons to the prior year period)\n\n\n\nRevenues increased 17% to $10,576,939, largely due to higher commission and fee revenue in the insurance business\n\n\nOperating income was $552,826, as compared to operating income of $670,120 in the prior year quarter, largely due to goodwill and long-lived asset impairment charge. Without these charges, operating income would have been $969,234 in the quarter\n\n\nOperating EBITDA (excluding investment portfolio income and impairment charges) was $1,142,249, compared to $871,138 in the prior year quarter\n\n\nNon-operating investment gain (loss), net, of $815,444 compared to a gain of $144,096 in the prior year quarter primarily related to an increase in the market value of the equity securities the Company held at March 31, 2019\n\n\nNet income was $950,841, or $0.12 per share, as compared to net income of $611,672, or $0.08 per share in the prior year period, driven in this period by an increase in revenues and investment gain\n\n\nNon-cash impairment charges of $416,408 (goodwill impairment of $349,300 and long-lived asset impairment charges of $67,108) associated with the sale of a family entertainment location subsequent to the end of the quarter, and reassessment of the goodwill value of two other locations\n\n\n\nFY 2019 Annual Financial Highlights (all comparisons to the prior year)\n\n\n\nRevenues increased 11.0% to $35,181,918\n\n\nOperating income was $540,086 compared to $917,877, largely due to an impairment charge. Without the impairment charge, operating income would have been $956,494\n\n\nOperating EBITDA (excluding investment portfolio income and impairment charges) was $1,682,487 compared to $1,691,704\n\n\nNet income was $269,751, or $0.03 per share, as compared to net income of $1,450,272, or $0.18 per share\n\n\nThe Company announced that it intended to change the timing of its annual cash dividend to shareholders from what had historically been January to on or about April, beginning in 2019, to better align the Company’s dividend with its fiscal year ending March 31st\n\n\nThe Company paid a $0.07 per share ca...