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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 | 1.70 | 1.73 | 1.73 | 1.73 | 1.73 | 100 | 17:06:42 |
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 third quarter and nine months ended December 31, 2011.
Timothy M. Klusas, TMA’s President, stated, “We are very pleased with our growth during the period. As a result of more of our distributors utilizing more of the Company’s services, we saw double digit percentage increases in revenues, operating income, and net income. We also benefitted from the results at the earth-moving and excavating business we acquired last year. I’d like to focus on a few items that affected the quarter’s results:”
Fiscal 2012 Third Quarter Financial Review
Fiscal 2012 Nine Months Financial Review
Balance Sheet Information
TMA’s balance sheet at December 31, 2011 reflected cash and cash equivalents of $4.6 million, working capital of $8.0 million, and shareholders’ equity of $9.7 million; compared to $3.5 million, $6.9 million, and $7.6 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.
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 12/31/11 12/31/10 12/31/11 12/31/10 Commission revenue $ 6,756,839 $ 6,179,063 $ 17,963,576 $ 15,960,180 Construction revenue 1,069,033 - 1,624,891 - Revenues $ 7,825,872 $ 6,179,063 $ 19,588,467 $ 15,960,180 Distributor Related Expenses Bonus & commissions 4,004,367 4,117,357 11,557,172 9,963,808 Benefits & processing 350,598 318,612 1,461,708 1,570,773 Total 4,354,965 4,435,969 13,018,880 11,534,581 Cost of Construction Direct and Indirect costs of construction 656,371 - 1,267,160 - Net Operating Revenue 2,814,536 1,743,094 $ 5,302,427 4,425,599 % of Revenue 36 % 28 % 27 % 28 % Operating Expenses 1,093,612 826,663 2,962,152 2,424,441 Operating Income 1,720,924 916,431 2,340,275 2,001,158 % of Revenue 22 % 15 % 12 % 13 % Other Income (Expense) Other 19,216 (157 ) 84,964 10,346 Investment (loss) income, net 281,980 393,933 (357,290 ) 511,457 Interest expense (14,605 ) (3,741 ) (32,075 ) (13,679 ) Income Before Provision for Income Tax 2,007,515 1,306,466 2,035,874 2,509,282 Provision for income taxes 727,678 478,690 738,005 928,929 Net Income $ 1,279,837 $ 827,776 $ 1,297,869 $ 1,580,353 Average Shares Outstanding 2,091,736 2,091,736 2,091,736 2,091,736 Operating Income per Share* $ 0.82 $ 0.44 $ 1.12 $ 0.96 Net Income per Share* $ 0.61 $ 0.40 $ 0.62 $ 0.76Note: * - Operating EPS and Net EPS stated after giving effect to the 10% stock split for shareholders of record as of June 15, 2011 and paid July 15, 2011 for all periods. Shares outstanding increased to 2,091,736 from 1,901,578 with this stock split.
Consolidated Selected Balance Sheet Items As of Assets 12/31/11 12/31/10 Current Assets Cash & Equivalents $ 4,597,784 $ 3,457,158 Receivables 6,738,181 5,683,203 Investments 3,558,660 3,311,243 Inventory 141,790 - Other 536,750 374,100 Total Current Assets 15,573,165 12,825,704 Property and Equipment, net 1,687,009 174,399 Other Non Current Assets 717,366 585,562 Total Assets $ 17,977,540 $ 13,585,665 Liabilities & Stockholders' Equity Total Current Liabilities $ 7,561,706 $ 5,935,614 Long Term Liabilities Promissory Note 540,000 - Deferred Taxes 202,000 49,200 Total Liabilities $ 8,303,706 $ 5,984,814 Stockholders' Equity $ 9,673,834 $ 7,600,851 Liabilities & Stockholders' Equity $ 17,977,540 $ 13,585,665Note - The asset purchases of the earth-moving and excavating business were initiated in July, 2011, and are expected to be completed in April, 2012. For accounting purposes the entire asset purchase was treated as if it had occurred in July, 2011 to properly reflect assets and liabilities that have been acquired as of July, 2011 or expected to be acquired in April, 2012.
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