Business
The Marketing Alliance Announces Financial Results for Its Fiscal 2020 Third Quarter Ended December 31, 2019
The Marketing Alliance Announces Financial Results for Its Fiscal 2020 Third Quarter Ended December 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 2020 third quarter and nine months ended December 31, 2019.\n\n\nFY 2020 Third Quarter Financial Highlights (all comparisons to the prior year period)\n\n\n\nRevenues remained largely steady at $8,553,065, with higher commission and fee revenue in the insurance distribution business and higher construction revenue offset by lower family entertainment revenue\n\n\nOperating income improved to $351,962 compared to operating income of $209,747 in the prior year quarter, largely due to lower operating expenses during the quarter versus the prior year\n\n\nOperating EBITDA (excluding investment portfolio income and impairment charges) was $484,047, compared to $388,991 in the prior year quarter\n\n\nNet income was $156,933, or $0.02 per share, as compared to a net loss of ($804,449), or ($0.10) per share in the prior year period, reflecting an increase in operating profit in this period and non-operating investment loss, net, of ($52,301) compared to a loss of ($1,190,132) in the prior year\n\n\n\nManagement Comments \n\n\nTimothy M. Klusas, TMA’s Chief Executive Officer, commented, “We reported commission income growth from our insurance distribution business, where we continued to see a steady flow of revenues though our long-time agency partners. There is a continuing trend of our agency network utilizing digital applications and platforms to enhance their customer facing capabilities, and we are helping to maximize those applications through a seamless integration of back office support and capabilities. We expect to see this adoption accelerate in the coming months and feel that the Company is well positioned to take advantage of these insurance technology initiatives on behalf of our agency network and carrier partners. The Company also had solid revenue growth in our construction business, as we continued to find additional applications of our trenching work in larger highway and roadwork jobs. Finally, during the quarter we divested the assets of two entertainment facilities, which brings our total down to six. We are continuing to evaluate the business and will make appropriate capital allocation decisions as current leases expire.”\n\n\nMr. Klusas continued, “O...