Business
The Marketing Alliance Announces Financial Results for its Fiscal 2020 Second Quarter Ended September 30, 2019
The Marketing Alliance Announces Financial Results for its Fiscal 2020 Second Quarter Ended September 30, 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 2020 second quarter ended September 30, 2019.\n\n\nFY 2020 Second Quarter Financial Highlights (all comparisons to the prior year period)\n\n\n\nRevenues increased 7.4% to $8,695,723, largely due to higher commission and fee revenue in the insurance distribution business and higher construction revenue\n\n\nOperating income was $150,678, as compared to operating loss of $(48,144) in the prior year quarter, largely due to lower operating expenses during the quarter\n\n\nOperating EBITDA (excluding investment portfolio income and impairment charges) was $292,744, compared to $148,350 in the prior year quarter\n\n\nNon-operating investment gain, net, of $93,800 compared to a gain of $243,972 in the prior year quarter\n\n\nNet income was $120,710, or $0.02 per share, as compared to net income of $280,151, or $0.03 per share in the prior year period, reflecting an increase in revenues and operating profit in this period, which was offset by lower investment gain, net versus the previous year, and the impact of a non-operating gain of $248,138 last year generated from the sale of equipment in the prior year period\n\n\n\nManagement Comments \n\n\nTimothy M. Klusas, TMA’s Chief Executive Officer, commented, “We were pleased to achieve over 7% revenue growth, largely due to higher commission income from our insurance distribution business. Over the past year, TMA has seen an acceleration in the adoption of digital applications across our agency network, as more agents prefer a streamlined option that reduces the time and redundancies of selling life insurance. Many of our carrier and agency partners have invested resources in these digital platforms, and we are serving to compound the effects of these investments by providing an enhanced call center that retains agent engagement and increases the speed of application processing. With a focus on improving the process behind the digital offerings of our agencies and carriers, we believe TMA is helping our agencies and their agents use technology to reach more customers.”\n\n\nMr. Klusas continued, “We were also pleased with the results in the construction and family entertainment businesses. Our construction business reported ...