The Marketing Alliance Announces Financial Results for its Fiscal 2020 First Quarter Ended June 30, 2019
MARKETING ALLIANCE INC (MAAL)
NASDAQ:AMEX Investor Relations:
themarketingalliance.com/shareholder-information/investor-contact-inquiry
Company Research
Source: Business Wire
ST. LOUIS--(BUSINESS WIRE)--The Marketing Alliance, Inc. (OTC: MAAL) (“TMA” or the “Company”), today announced financial results for its fiscal 2020 first quarter ended June 30, 2019.FY 2020 First Quarter Financial Highlights (all comparisons to the prior year period)Revenues increased 13% to $8,935,704, largely due to higher commission and fee revenue in the insurance distribution businessOperating income was $176,662, as compared to operating loss of $(174,686) in the prior year quarter, largely due to higher revenues and lower operating expenses during the quarterOperating EBITDA (excluding investment portfolio income and impairment charges) was $309,981, compared to $4,654 in the prior year quarterNon-operating investment gain, net, of $289,378 compared to a gain of $41,779 in the prior year quarter primarily related to an increase in the market value of the equity securities the Company held at June 30, 2019Net income was $278,193, or $0.03 per share, as compared to net loss
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