Business
The Marketing Alliance Announces Financial Results for Quarter Ended September 30, 2024
The Marketing Alliance Announces Financial Results for Quarter Ended September 30, 2024.
About this update from Marketing Alliance, Inc. (the)
[{"type":"text","content":"\n ST. LOUIS, Dec. 04, 2024 (GLOBE NEWSWIRE) -- The Marketing Alliance, Inc. (OTC: MAAL) (“TMA” or the “Company”), announced its financial results today for its fiscal 2025 second quarter ended September 30, 2024. Fiscal Q2 2025 Financial Key Items (all comparisons to the prior year period) Revenues were $4,928,950 compared to $4,891,830. The increase was primarily due to 10% revenue growth in the insurance distribution business that was offset by a decline in construction revenueOperating income from continuing operations of $486,639 compared to $591,187 in the prior year period  Net income was $401,511 or $0.05 per share compared to $236,599 or $.03 per share in the prior year periodSubsequent to the end of the quarter, on October 28, the Company announced its Board of Directors had authorized a share repurchase program to repurchase up to 800,000 shares of issued and outstanding common stock and decided to discontinue paying dividends effective immediately Management Comments Timothy M. Klusas, TMA’s Chief Executive Officer, commented, “While our bottom-line results were similar to the second fiscal quarter last year, this quarter showed a 10% revenue increase in the insurance distribution business. The investments in the business we made, and continue to make, appeared to begin to result in growth. During this quarter the Company filled two key open leadership roles, introduced a new logo to reflect a more modern customer-centric company, and integrated new tools and technologies on to our insurance distribution platform for customers to save time, save expense, and in turn drive better outcomes for their customers. In the construction business we completed a large job that was initiated in the prior fiscal year. We continued to maintain a very disciplined approach to only undertaking jobs that were economically profitable with respect to our capabilities. We continued to believe this approach positions us to perform better and have capacity to undertake more suitable jobs.” Mr. Klusas added, “Our general and administrative operating expenses increased this quarter due to a one-time $147,720 non-cash compensation expense. While we have worked very hard to reduce our expenses, we recognized that we may have to adjust these expenses to continue to perform at a high leve...