Business
The Marketing Alliance Announces Financial Results for its Fiscal 2020 Fourth Quarter and Year-Ended March 31, 2020
The Marketing Alliance Announces Financial Results for its Fiscal 2020 Fourth Quarter and Year-Ended March 31, 2020.
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 2020 fourth quarter and year-ended March 31, 2020.\n\n\nFY 2020 Fourth Quarter Financial Highlights (all comparisons to the prior year period)\n\n\n\nRevenues decreased to $9,949,443 compared to $10,576,939, largely due to lower family entertainment revenues as the Company was forced to close its family entertainment locations in March due to the COVID-19 pandemic. The Company also had six locations this quarter compared to nine in the prior year period\n\n\nCommission and fee revenues from the Company’s core insurance distribution business remained largely flat (down 1%) despite disruption caused from the pandemic\n\n\nOperating loss was ($462,478), as compared to operating income of $552,826 in the prior year quarter. The loss was due in part to reduced revenues in the family entertainment business, lower annuities revenue, deferred first year commissions reconciliations in the insurance business, and goodwill and long-lived asset impairment charges in the quarter due to the family entertainment business\n\n\nOperating EBITDA (excluding investment portfolio income) was $382,854, compared to $1,142,249 in the prior year quarter\n\n\nNon-operating investment gain (loss), net, of ($2,045,335) compared to a gain of $815,444 in the prior year quarter, which was related to unrealized losses due to disruption in financial markets related to the COVID-19 pandemic\n\n\nNet loss for the quarter was ($1,832,289), or ($0.23) per share, as compared to net income of $950,841, or $0.12 per share in the prior year period\n\n\n\nFY 2020 Annual Financial Highlights (all comparisons to the prior year)\n\n\n\nRevenues increased 2.7% to $36,133,935\n\n\nOperating income was $216,824 compared to $540,086, due in part to results of forced closures and impairment charges (found in operating expenses) in the Company’s family entertainment business\n\n\nOperating EBITDA (excluding investment portfolio income and impairment charges) was $1,469,626 compared to $1,682,487\n\n\nNet loss was ($1,276,453), or ($0.16) per share, as compared to net income of $269,751, or $0.03 per share\n\n\n\nDividend Policy\n\n\nSubsequent to the end of the fiscal year, the Company announced a planned change in its sharehol...