Business
The Marketing Alliance Announces Financial Results for Quarter Ended September 30, 2023 and Declares Quarterly Dividend of $0.05 per share
The Marketing Alliance Announces Financial Results for Quarter Ended September 30, 2023 and Declares Quarterly Dividend of $0.05 per share.
About this update from Marketing Alliance, Inc. (the)
[{"type":"text","content":"\nThe Marketing Alliance, Inc. (OTC: MAAL) (“TMA” or the “Company”), today announced that its Board of Directors has declared a $0.05 per share cash dividend for shareholders of record on December 29, 2023, to be paid on or about January 24, 2024.\n\n\nThe Company also announced its financial results for its fiscal 2024 second quarter ended September 30, 2023.\n\n\n2Q 2024 Financial Key Items (all comparisons to the prior year period)\n\n\n\nOperating income from continuing operations of $594,792 compared to $452,731, driven by improved performance in both the insurance distribution and construction businesses.\n\n\n\nRevenues were $4,891,830 compared to $4,839,242, the increase due primarily to an increase in construction revenues.\n\n\n\nNet income from continuing operations was $492,416 or $0.06 per share compared to $130,557 or $0.02 per share.\n\n\n\nManagement Comments\n\n\nTimothy M. Klusas, TMA’s Chief Executive Officer, commented, “Our second quarter 2024 results show a quarter in which, although very consistent to the prior year period, both businesses exceeded the prior year period on a gross profit basis. Our insurance distribution business benefited from some of the reversal of adverse timing of fee revenues mentioned in the last quarter, which is more comparable to what we would historically expect, and a slight improvement in performance overall through successful cost savings initiatives. Although not included in operating income, the Company also benefited from a reversal in a prior period holdback, which is listed as Other income.”\n\n\nMr. Klusas added, “Our construction business built upon its good start to the fiscal year through exceptional execution of a large job during the quarter. This business continued to grow and create more opportunities for future large jobs by its increasing penetration in the market and a growing reputation among customers and potential future clients. The geographic areas in which our construction business operates continued to see infrastructure investment, and we were well-positioned to benefit from this trend.”\n\n\nFiscal Second Quarter 2024 Financial Review\n\n\n\nRevenues were $4,891,830 compared to $4,839,242, with Construction revenues increasing modestly due to increasing activity levels. Insurance Commission and Fee...