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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 third quarter and the nine months ended December 31, 2009.
Timothy M. Klusas, TMA’s President, stated, “The progress we have made in streamlining our operations to better serve our customers and in leveraging our infrastructure to offer more products and services for their benefit has served us well in this environment. Despite a challenging economy, our seasoned customer base deserves much credit for maneuvering successfully through a difficult time and we feel very fortunate to be aligned with such professionals. We continue to be encouraged by our operating results.”
Operating Highlights
Financial Highlights
Balance Sheet Information
TMA’s balance sheet at December 31, 2009 reflected cash and cash equivalents of $3.7 million, working capital of $4.7 million and no long-term debt. Shareholders’ equity at December 31, 2009 totaled $5.2 million.
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 9 Months Ended 12/31/2009 12/31/2008 12/31/2009 12/31/2008 Revenues $ 5,027,173 $ 6,293,505 $ 14,812,228 $ 16,897,719 Distributor Related Expenses Bonus & commissions 3,427,921 4,554,599 9,659,031 11,735,617 Benefits & processing 597,858 654,761 1,870,309 1,997,817 Total 4,025,779 5,209,360 11,529,340 13,733,434 Net Operating Revenue 1,001,394 1,084,145 3,282,888 3,164,285 Operating Expenses 746,436 681,674 2,163,696 2,055,332 Operating Income 254,958 402,471 1,119,192 1,108,953 Other Income (Expense) Interest & dividend income (net) 25,809 27,506 80,104 72,019 Realized & unrealized gains (losses) on investments (net) 2,122 (362,613 ) 590,735 (773,733 ) Interest expense (10,695 ) (1,684 ) (22,808 ) (5,940 ) Income (Loss) Before Provision for Income Tax 272,194 65,680 1,767,223 401,299 Provision for income taxes (110,500 ) (291,000 ) (718,000 ) (427,000 ) Net Income (Loss) $ 161,694 $ (225,320 ) $ 1,049,223 $ (25,701 ) Average Shares Outstanding 1,912,342 1,945,703 1,915,930 1,945,703 Operating Income per Share $ 0.13 $ 0.21 $ 0.58 $ 0.57 Net Income (Loss) per Share $ 0.08 $ (0.12 ) $ 0.55 $ (0.01 ) Consolidated Selected Balance Sheet Items As of Assets 12/31/2009 3/31/2009 Current Assets Cash & Equivalents $ 3,686,705 $ 3,692,773 Receivables 5,213,660 5,890,665 Investments 2,349,207 1,599,412 Other 946,074 562,721 Total Current Assets 12,195,646 11,745,571 Other Non Current Assets 452,057 235,626 Total Assets $ 12,647,703 $ 11,981,197 Liabilities & Stockholders' Equity Total Current Liabilities $ 7,464,308 $ 7,213,667 Total Liabilities 7,464,308 7,213,667 Stockholders' Equity 5,183,395 4,767,530 Liabilities & Stockholders' Equity $ 12,647,703 $ 11,981,197
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