Business
The Marketing Alliance Announces Financial Results for its Fiscal 2019 Third Quarter Ended December 31, 2018
The Marketing Alliance Announces Financial Results for its Fiscal 2019 Third Quarter Ended December 31, 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 third quarter ended \n December 31, 2018.\n \n \n FY 2019 Third Quarter Financial Highlights (all comparisons to the \n prior year)\n \n \n \n Revenues increased 14% to $8,595,839, largely due to higher commission \n and fee revenue in the insurance business and an increase in revenue \n in the construction business\n \n \n Operating income was $209,747, as compared to operating income of \n $286,288 in the prior year quarter, largely due to costs of revenue \n increasing more than the combination of increased revenues and \n decreased operating expenses\n \n \n Operating EBITDA (excluding investment portfolio income) was $386,891, \n compared to $472,507 in the prior year quarter\n \n \n Non-operating investment gain (loss), net, of ($1,190,132) compared to \n a gain of $147,245 in the prior year quarter primarily related to a \n decrease in the market value of the equity securities the Company held \n at December 31, 2018\n \n \n Net loss was ($804,449), or ($0.10) per share, as compared to net \n income of $604,726, or $0.08 per share in the prior year period, \n driven in this period by non-operating investment gain (loss)\n \n \n \n Management Comments\n \n \n Timothy M. Klusas, TMA’s Chief Executive Officer, commented, “While we \n saw revenue growth in excess of 17% in the insurance business, we did \n not attain some of the beneficial compensation reconciliations from \n carriers that we have in the past, which resulted in our payments to \n distributors (expenses) increasing by almost the same amount. Despite \n this business mix, the growth of agencies was encouraging, particularly \n through digital applications and related technologies. Our insurance \n agencies once again continued to work with their agents to increase \n adoption and we continued to see additional carriers express their \n desire to increase their presence on our platform.”\n \n \n Mr. Klusas also commented, “Construction revenues continued to grow this \n quarter as we continued our progress in seeking roadway projects to \n offset the weakness in agricultural prices, such as corn and soybeans, \n which had historically driven demand for our traditional field drainage \n s...