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

Ad Block Digest: A news org puts its staff on the front lines

A video appeal from reporters asks readers to whitelist

Zulu pitches U.S. presidential candidates

Toronto agency creates mock-campaign aimed at potential American clients

CRTC’s Super Bowl simsub order: A goal-line fumble (Column)

Are U.S. ads truly 'integral to the event,' as the regulator suggests?

Rogers Radio partners with Shazam on content play

Booster Juice signs on as the inaugural sponsors of The Shazam @ 7 Countdown

Walmart hints at the CEO-as-ad-star possibilities for brands

Doug McMillon is a pitchman with a proven sense of social media savvy

Toronto startup embraces a new agency model

Send+Receive adopts project-based, 'hands-on' approach

Cineplex asks: Will lightning hit world’s biggest popcorn bag?

Promotion in Windsor builds on #WeatherOrNot campaign

3D printed origami birds burst out of Kubo shelter ad

Isobar, Astral drive bus passengers' attention to eOne movie poster

Plastic Mobile sends U.S. startups a Canada starter pack

Self-promo effort was designed to boost awareness of Canada's tech scene