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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Marketing Alliance Inc (PK) | USOTC:MAAL | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.01 | -0.57% | 1.74 | 1.73 | 1.80 | 1.75 | 1.73 | 1.73 | 3,002 | 18:46:22 |
The Marketing Alliance, Inc. (Pink Sheets: MAAL) (“TMA”), a provider of services and distributor of products to independent insurance agencies throughout the United States, today announced financial results for its fiscal fourth quarter and for the fiscal year ended March 31, 2009.
Timothy M. Klusas, TMA’s President, stated, “We are pleased to report TMA’s results for the quarter and year ended March 31, 2009. I first want to compliment our distributors who have successfully operated their businesses in a tough and ever-changing economic environment. In the past year, TMA was fortunate to have many seasoned business owners and forward-thinking carriers (suppliers) in our distribution network who have continued to navigate through unprecedented market conditions. We believe that our efforts to establish new platforms and cultivate new and existing relationships with our carriers (suppliers) were rewarded.”
Mr. Klusas concluded, “Our focus in providing greater value for our distributors by offering many different products and services gave our distributors more ways to increase their revenue and reduce expenses. In a difficult economic environment, we feel this was a significant advantage for our members by providing them the tools to position themselves best to thrive in an otherwise adverse economy. As examples, our turn-key Annuity Center, our centralized Business Service Center, and our Competition Desk distinguished themselves as valuable additions for our distributors.”
Fiscal 2009 Fourth Quarter Financial Review
Fiscal 2009 Year Ended Financial Review
Total revenues for fiscal 2009 were $22.7 million, up 37% from $16.6 million for fiscal 2008.
Balance Sheet Information
TMA’s balance sheet at March 31, 2009 reflected cash and cash equivalents of $3.7 million, working capital of $4.5 million and no long-term debt. Shareholders’ equity at March 31, 2009 totaled $4.8 million, versus $4.1 million at March 31, 2008.
About The Marketing Alliance, Inc.
Headquartered in St. Louis, MO, TMA is one of the largest organizations providing support to independent insurance brokerage agencies, with a goal of providing members value-added services on a more efficient basis than they can achieve individually.
Investor information can be accessed through the shareholder section of TMA’s website at http://www.themarketingalliance.com/si_who.cfm. TMA stock is quoted in the “pink sheets” (www.pinksheets.com) under the symbol “MAAL”.
Forward Looking Statement
Investors are cautioned that forward-looking statements involve risks and uncertainties that may affect TMA's business and prospects. Any forward-looking statements contained in this press release represent our estimates only as of the date hereof, or as of such earlier dates as are indicated, and should not be relied upon as representing our estimates as of any subsequent date. These statements involve a number of risks and uncertainties, including, but not limited to, general changes in economic conditions. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so.
Consolidated Statement of Operations Quarter Ended Year to Date 3 Months Ended 12 Months Ended 3/31/09 3/31/08 3/31/09 3/31/08 Revenues $ 5,796,771 $ 4,278,750 $ 22,694,490 $ 16,592,849 Distributor Related Expenses Bonus & commissions 2,718,345 1,548,931 14,453,962 9,306,398 Benefits & processing 634,446 706,686 2,632,263 2,523,122 Total 3,352,791 2,255,617 17,086,225 11,829,520 Net Operating Revenue 2,443,980 2,023,133 5,608,265 4,763,329 Operating Expenses 811,549 636,159 2,866,881 2,699,519 Operating Income 1,632,431 1,386,974 2,741,384 2,063,810 Other Income (Expense) Interest & dividend income [net] 21,750 31,341 93,769 103,800Realized & unrealized [losses] on investments (net)
(45,434 ) (601,815 ) (819,167 ) (1,295,397 ) Other income 53,375 53,375 Interest expense (1,259 ) (5,466 ) (7,199 ) (7,529 ) Income Before Provision for Income Tax 1,660,863 811,034 2,062,162 864,684 Provision for income taxes (429,558 ) (322,244 ) (856,558 ) (342,244 ) Net Income 1,231,305 $ 488,790 $ 1,205,604 $ 522,440 Average Shares Outstanding 1,917,724 1,945,702 1,917,724 1,945,702 Operating Income per Share $ 0.85 $ 0.71 $ 1.43 $ 1.06 Net Income per Share $ 0.64 $ 0.25 $ 0.63 $ 0.27 Consolidated Selected Balance Sheet Items As of Assets 3/31/09 3/31/08 Current Assets Cash & Equivalents $3,692,773
$
1,709,172
Receivables 5,890,665 4,529,119 Investments 1,599,412 2,256,120 Other 562,721 421,698 Total Current Assets 11,745,571 8,916,109 Other Non Current Assets 235,626 289,792 Total Assets $ 11,981,197 $ 9,205,901 Liabilities & Stockholders' Equity Total Current Liabilities $ 7,213,667 $ 5,084,543 Total Liabilities 7,213,667 5,084,543 Stockholders' Equity 4,767,530 4,121,358 Liabilities & Stockholders' Equity $ 11,981,197 $ 9,205,901
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