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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.75 | 1.70 | 1.73 | 0.00 | 12:55:21 |
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 2012 second quarter and six months ended September 30, 2011.
Timothy M. Klusas, TMA’s President, provided the following statement, “We are pleased with the Company’s revenue growth during the quarter and the closing of our acquisition of JDC Construction, Inc. The effects of seasonality and timing on our Company were prominent this quarter. First, our growth in the insurance distribution business caused expenses to accelerate in payments to our distributors. We are proud to reward our distributors for their successes; however, because our arrangements with carriers are usually based on annual schedules, we may not see revenues related to these expenses in the same period we pay our distributors. Second, the new business formed from assets we acquired from JDC undertakes most of its agricultural work in the period between harvesting crops and the onset of winter, and then between the times the ground thaws until crops are planted. The remaining time, such as the period in this quarter, has historically been spent on maintenance activities in preparation for work when crops are not in the field and / or general construction work. Finally, during this period, the equity portion of our investment portfolio performed poorly during an adverse time for equities.”
Klusas continued, “Once again I want to compliment our cadre of distributors for our increase in revenue and their success in a challenging macroeconomic environment. We continued to add to our infrastructure with a long-term view and were excited to see our distributors respond as affirmation of our strategy. We are also excited to see the new business from JDC perform in their busy season in the fall.”
Fiscal 2012 Second Quarter Financial Review
Fiscal 2011 Six Months Financial Review
Balance Sheet Information
TMA’s balance sheet at September 30, 2011, reflected cash and cash equivalents of $4.5 million, working capital of $7.2 million, and shareholders’ equity of $9.2 million; compared to $3.7 million, $6.6 million, and $7.4 million, respectively, at September 30, 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.
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.
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