Business
The Marketing Alliance Announces Financial Results for Quarter Ended September 30, 2022
The Marketing Alliance Announces Financial Results for Quarter Ended September 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 second quarter ended September 30, 2022.\n\nFY 2023 Second Quarter Financial Key Items (all comparisons to the prior year period)\n\n\nOperating income from continuing operations of $452,731 compared to $393,147 in the prior year period, reflecting an increased contribution in the quarter from construction business activity\n\n\nRevenues were $4,839,242 compared to $5,747,090, largely due to the continued change in carrier and product mix in the insurance distribution business\n\n\nOperating EBITDA (excluding investment income) increased by 15% to $521,261 from $453,237 in the prior year quarter\n\n\nNet income was $199,015 or $0.02 per share compared to $459,245 or $0.06 per share\n\n\nManagement Comments\n\nTimothy M. Klusas, TMA’s Chief Executive Officer, commented, “On balance, we have managed through a changing insurance business environment marked by shifts in revenue among our various carriers and corresponding changes in expenses. Because insurance carriers may offer different payment rates depending on the product sold, relative revenue comparisons could be misleading without relative expense comparisons. Our team prefers to look to our bottom line after revenue and expenses to assess our performance. Our message has remained consistent during this time in that we continue 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 access to their customers. Our platform also enables our insurance carriers to pursue an important segment in their distribution in a cost-effective manner. With business conditions in the economy and inflation challenging consumers’ budgets, the services of our agencies and the products they distribute could not be more essential than they are at times like these.”\n\nMr. Klusas added, “A key element of our long-term business strategy continued to be earnings generation in businesses that are not correlated with our core insurance distribution business, such as our construction business. As noted previously, our construction business completed a large job in this quarter...