Business
The Marketing Alliance Announces Financial Results for Quarter Ended June 30, 2024
The Marketing Alliance Announces Financial Results for Quarter Ended June 30, 2024.
About this update from Marketing Alliance, Inc. (the)
[{"type":"text","content":"\nThe Marketing Alliance, Inc. (OTC: MAAL) (“TMA” or the “Company”), announced its financial results today for its fiscal 2025 first quarter ended June 30, 2024.\n\n\nFiscal Q1 2025 Financial Key Items (all comparisons to the prior year period)\n\n\n\nRevenues were $4,385,543 compared to $4,109,746. The 7% increase was primarily due to 9% growth in the insurance distribution business that was partially offset by a decrease in construction revenue\n\n\n\nOperating income from continuing operations of $48,856 compared to $52,191 in the prior year period\n\n\n\nNet income (loss) was ($49,853) or ($0.01) per share compared to $139,508 or $.02 per share in the prior year period, with the difference primarily in non-operating investment gain (loss), net from the prior year period\n\n\n\nManagement Comments\n\n\nTimothy M. Klusas, TMA’s Chief Executive Officer, commented, “While our fiscal first quarter 2025 results, as measured by operating income, were similar to our results in the same quarter last year, we arrived at this destination by a different route. As our insurance distribution revenue increased this year in excess of 9%, we realized more pronounced expenses (as a percentage of revenues) as we continued to invest to grow the business, and historically these expenses have been more evenly distributed throughout the year. The revenue for the construction business decreased this quarter as we maintained a very disciplined approach to only undertaking jobs that were economically profitable with respect to our capabilities. We believed this approach positioned us to perform better as the year progresses and we would have spare capacity to undertake more suitable jobs.”\n\n\nMr. Klusas added, “Our general and administrative operating expenses were lower this quarter, and while we have worked very hard to reduce our expenses, we recognize that we may have to adjust these expenses in the future to continue to perform at a high level. It was also noteworthy that we attempted to reduce the risk in our balance sheet by moving some of our excess liquidity out of equity securities and into cash and cash equivalents and reduced our line of credit to a zero balance.”\n\n\nFiscal First Quarter 2025 Financial Review\n\n\n\nRevenues were $4,385,543 compared to $4,109,746, due primarily to ...