Marketing Alliance Inc. Announces Earnings Results for the Second Quarter and Six Months Ended September 30, 2011
January 30, 2012 at 01:30 pm
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Marketing Alliance Inc. announced earnings results for the second quarter and six months ended September 30, 2011. For the quarter, the company reported total revenues were $5,955,098, an increase of 24%, from $4,795,842 in the fiscal year 2011 second quarter. The increase was partially due to an additional $555,858 received in construction revenue from JDC's operations, as well as a 13% increase in commission revenue over the prior-year period. Operating income was $3,319 compared to operating income of $332,147, for the prior-year period, in part due to expenses related to the acquisition of certain assets of JDC Construction Inc., and its subsequent integration into the company. Net loss was $364,978 or a loss of $0.17 per share, from net income of $489,688 or $0.23 per share, in the fiscal 2010 second quarter.
For the six months, the company reported total revenues were $11,762,595 compared to $9,781,117 in revenues for the prior-year period. Operating income decreased to $619,351 from $1,084,727 for the prior-year period, due to the timing of distributor bonuses and commissions and the indirect and direct construction costs for the second quarter as previously mentioned. Net income was $18,032 or $0.01 per share compared to $752,577 or $0.36 per share in the prior-year period.
Marketing Alliance, Inc. is a consortium of independent life insurance general agents located throughout the United States. The Company provides the benefits of pooled production and resources, including access to carriers and services. The Company, through a subsidiary, provides construction, heavy equipment and trenching services in Iowa. Its business includes life insurance, annuity and long-term care insurance. It provides its members with a comprehensive multi-level approach to their annuity business. It offers Individual Long Term Care Insurance, Group Long Term Care, Linked Benefit Products (Linked to Life Insurance or an Annuity), Underwriting Guidelines, Marketing Materials and others. It has built a disability insurance portfolio of products to serve the clients of its distributorsâ brokers. It also offers Mutual of Omaha Medicare Supplement products. Its subsidiaries include TMA Marketing, Inc., TMA Realty, Inc., TMA Play Pines, Inc., TMA Play Gastonia, Inc. and others.