Business
The Marketing Alliance Announces Financial Results for Quarter Ended June 30, 2022
The Marketing Alliance Announces Financial Results for Quarter Ended June 30, 2022.
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 2023 first quarter ended June 30, 2022.\n\nFY 2023 First Quarter Financial Key Items (all comparisons to the prior year period)\n\n\nOperating income from continuing operations of $383,810 compared to $381,465 in the prior year period, despite a reduction in revenue of 32% to $4,382,845\n\n\nOperating EBITDA (excluding investment income) was $446,480 compared to $439,249 in the prior year quarter\n\n\nNet income (loss) from continuing operations was $(257,992) or $(.03) per share compared to $546,898 or $.07 per share\n\n\nManagement Comments\n\nTimothy M. Klusas, TMA’s Chief Executive Officer, commented, “While our results reflect consistent operating profit and performance, this quarter was affected by a difficult economic climate and differences in timing on projects. The insurance distribution business performed well despite a reduction in revenue from a changing mix of carriers from previous quarters. While the change in business mix reduced revenue, these factors also correspond to reduced expenses, and resulted in similar levels of profitability. We also felt that a difficult and changing economic environment punctuated by rapid increases in rates of inflation affected consumer decisions. While this phenomenon could continue, we feel we have products and solutions for our agencies and agents to assist consumers in weathering this period. We continued to believe our no-contact business solutions offer significant value in the marketplace as insurance carriers and agents have an increased appreciation for these technological tools that allow them to maintain strong relationships with their customers. Our platform enables our insurance carrier partners to fill an important gap in their distribution in a cost-effective manner.”\n\nMr. Klusas added, “Last year our construction business completed its largest job of the year in the prior year quarter. Due to timing this year, we have a similar job, but it is scheduled in the next quarter, making a difficult comparison to last year through only one quarter. In fact, the results from this past quarter represent some of the buildup in materials and mobilization of resources from a similar job without the corresponding ...