MDC Partners cuts Q1 net loss

MDC Partners Inc., a Canadian-U.S. marketing, consulting and advertising company, reports its net loss narrowed in the first quarter as the company generated higher revenues.

MDC Partners Inc., a Canadian-U.S. marketing, consulting and advertising company, reports its net loss narrowed in the first quarter as the company generated higher revenues.

The New York firm, which started in Canada, reported late Thursday it lost US$8.7 million or 31 cents a share for the three months ended March 31.

That compared with a net loss of US$10.2 million or 35 cents a year earlier.

Consolidated revenue for the first quarter jumped 60% to $217.5 million from $135.9 million.

“Our strong results this quarter sets us up nicely to deliver the organic growth, margin expansion and free cash flow generation that we forecasted for 2011,” said David Doft, MDC’s chief financial officer.

“We are confident that we can approach a $1 billion run rate in revenue in the next nine months and the capital raise that we recently successfully completed underscores how strongly the market believes in our model and prospects for future shareholder value creation.”

MDC wholly or partially owns a number of marketing, communications and strategic consulting services including Henderson Bas Kohn, Kirshenbaum Bond Senecal + Partners and CPB Canada.

Advertising Articles

Factry launches to educate Quebec-based creatives

Sid Lee, A2C and others support interdisciplinary school opening this fall

Captain Morgan’s cottage hack

New campaign inspires Canadians to seize the summer in their own way

Pepper retail robot courts developers in North America

A campaign for SoftBank's friendly bot may be its gateway to North American stores

Sid Lee’s JF Bouchard gives an insider’s guide to C2 Montréal

The ad agency exec talks balancing his day job with an annual event

Dairy Farmers puts Canadians to bed

Nearly half of Canadians say lack of sleep affects productivity at work

Ads You Must See: The sexy and the sexist

It's not Audi's strongest ad, but it's miles better than ZonaJob's dreck

On The Move: New hires at National, Narrative, Cue

A weekly update of who's headed where in Canadian marketing and communications

Marketers can now do the math on what agency work is worth

Ad Cost Checker offers database to benchmark fees

‘Bully ads’ take aim at media, influencers to raise awareness

Canada Safe School Network works with Bimm for online campaign