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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 | |
---|---|---|---|---|---|---|---|---|---|---|
-0.02 | -1.14% | 1.73 | 1.73 | 1.75 | 1.73 | 1.73 | 1.73 | 2,500 | 17:09:18 |
The Marketing Alliance, Inc. (OTC: 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 nine months ended December 31, 2010.
Timothy M. Klusas, TMA’s President, stated, “We are pleased with this quarter’s results. As distributors utilized more of the Company’s services, we saw growth in revenues, operating income, and net income, as well as expansion in our margins. I can’t write enough complimentary statements about our distributors to articulate our admiration and high regard for their professionalism, but I think our results speak to how our customers finished the calendar year during a difficult and uncertain time.”
Mr. Klusas continued, “Because this quarter included the end of a calendar year, longtime followers of our financial statements have reminded us in the past that they studied TMA by comparing rolling four-quarter periods, which addressed any annual reconciliations and / or seasonality factors that were common in our industry. For example, since many of our suppliers’ agreements with us were on an annual calendar basis, this may have helped them identify comparable periods by looking at four consecutive quarters rather than comparing consecutive 90-day periods and trying to understand any fluctuations.”
Fiscal 2011 Third Quarter Financial Review
Fiscal 2011 Nine Months Financial Review
Balance Sheet Information
TMA’s balance sheet at December 31, 2010 reflected cash and cash equivalents of $3.5 million, working capital of $6.6 million, and shareholders’ equity of $7.6 million; compared to $3.8 million, $6.2 million, and $6.7 million, respectively, at March 31, 2010.
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 on the OTC Markets (http://www.otcmarkets.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 12/31/2010 12/31/2009 12/31/2010 12/31/2009 Revenues $ 6,179,069 $ 5,027,173 $ 15,960,184 $ 14,812,228 Distributor Related Expenses Bonus & commissions 4,102,355 3,427,921 9,918,806 9,659,031 Benefits & processing 333,612 597,858 1,615,774 1,870,309 Total 4,435,967 4,025,779 11,534,580 11,529,340 Net Operating Revenue 1,743,102 1,001,394 4,425,604 3,282,888 Operating Expenses 826,494 734,836 2,413,355 2,152,096 Operating Income 916,608 266,558 2,012,249 1,130,792 Other Income (Expense) Interest & dividend income [net] 36,357 25,808 93,763 80,104 Realized & unrealized gains on investments (net) 357,147 (9,478 ) 416,944 579,135 Interest expense (3,741 ) (10,695 ) (13,679 ) (22,808 ) Income Before Provision for Income Tax 1,306,371 272,193 2,509,277 1,767,223 Provision for income taxes (403,690 ) (110,500 ) (928,929 ) (718,000 ) Net Income $ 902,681 $ 161,693 $ 1,580,348 $ 1,049,223 Average Shares Outstanding 1,901,578 1,977,675 1,901,578 1,915,930 Operating Income per Share $ 0.48 $ 0.13 $ 1.06 $ 0.59 Net Income per Share $ 0.47 $ 0.08 $ 0.83 $ 0.55 Consolidated Selected Balance Sheet Items As of Assets 12/31/10 3/31/10 Current Assets Cash & Equivalents $ 3,457,157 $ 3,802,842 Receivables 5,683,203 5,548,948 Investments 3,111,244 2,414,856 Other 374,101 513,531 Total Current Assets 12,625,705 12,280,177 Other Non Current Assets 1,033,459 503,893 Total Assets $ 13,659,164 $ 12,784,070 Liabilities & Stockholders' Equity Total Current Liabilities $ 6,058,318 $ 6,117,031 Total Liabilities 6,058,318 6,117,031 Stockholders' Equity 7,600,846 6,667,039 Liabilities & Stockholders' Equity $ 13,659,164 $ 12,784,070
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