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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 2010 second quarter and six months ended September 30, 2009.
Timothy M. Klusas, TMA’s President, stated, “We continue to be very encouraged by the resilience and focus of our customers during challenging market conditions. We saw increasing interest in TMA’s outsourcing services such as TMA’s Business Processing Center, which provides application processing and back office support, and also TMA’s Annuity Center and Life marketing services, allowing our member agencies to cost-effectively expand their businesses while taking advantage of TMA’s economies of scale.”
Klusas continued, “I am also very pleased about TMA’s new relationship with Minnesota Life, which was announced to our distributors last month. Minnesota Life is a valuable addition to TMA’s portfolio of suppliers and brings new products for our network of distributors, complementing their offerings for agents to utilize with their individual customers.”
At a recent meeting subsequent to the end of second fiscal quarter, the Company’s Board of Directors voted to pay a $0.28 per share cash dividend on or about January 31, 2010, to shareholders of record at December 20, 2009. This dividend represents an increase of 21.7% over the dividend paid last year.
Fiscal 2010 Second Quarter Financial Review
Fiscal 2010 Six Month Financial Review
Balance Sheet Information
TMA’s balance sheet at September 30, 2009 reflected cash and cash equivalents of $3.7 million, working capital of $5.0 million, and shareholders’ equity of $5.7 million, compared to $3.7 million, $4.5 million, and $4.8 million, respectively, at March 31, 2009. The Company holds no long-term debt.
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 6 Months Ended 9/30/09 9/30/08 9/30/09 9/30/08 Revenues $ 4,753,763 $ 5,379,392 $ 9,785,055 $ 10,604,214 Distributor Related Expenses Bonus & commissions 3,056,236 3,795,305 6,231,110 7,181,018 Benefits & processing 652,926 652,008 1,272,451 1,343,056 Total 3,709,162 4,447,313 7,503,561 8,524,074 Net Operating Revenue 1,044,601 932,079 2,281,494 2,080,140 Operating Expenses 717,905 610,528 1,417,260 1,373,658 Operating Income 326,696 321,551 864,234 706,482 Other Income (Expense) Interest & dividend income [net] 24,814 23,878 54,295 44,513 Realized & unrealized [losses] on investments (net) 291,663 (379,975 ) 588,613 (411,120 ) Interest expense (7,477 ) (1,229 ) (12,113 ) (4,256 ) Income [Loss] Before Provision for Income Tax 635,696 (35,775 ) 1,495,029 335,619 Provision for income taxes (260,500 ) 11,000 (607,500 ) (136,000 ) Net Income [Loss] $ 375,196 $ (24,775 ) $ 887,529 $ 199,619 Average Shares Outstanding 1,917,724 1,945,703 1,917,724 1,945,703 Operating Income per Share $ 0.17 $ 0.17 $ 0.45 $ 0.36 Net Income [Loss] per Share $ 0.20 $ (0.01 ) $ 0.46 $ 0.10 Consolidated Selected Balance Sheet Items As of Assets 9/30/2009 3/31/2009 Current Assets Cash & Equivalents $ 3,693,837 $ 3,692,773 Receivables 5,100,4975,890,665
Investments 2,177,5151,599,412
Other 281,157562,721
Total Current Assets 11,253,00611,745,571
Other Non Current Assets 614,830 235,626 Total Assets $ 11,867,836 $11,981,197
Liabilities & Stockholders' Equity Total Current Liabilities $ 6,212,780 $ 7,213,667 Total Liabilities 6,212,780 7,213,667 Stockholders' Equity 5,655,0564,767,530
Liabilities & Stockholders' Equity $ 11,867,836 $11,981,197
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