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

Chris Jordan’s sudden departure from Y&R

Five execs named as new senior leadership team for Canada

Springboard rebrands with Stephen Thomas

New identity shows Ontario charitable organization is people-focused

MDC releases Q2 results, on track for record revenue highs

CEO Miles Nadal says company is in prime position for continued growth

Watch This: Moment Factory lights up Parc de la Gorge

Turning a park into a glowing, immersive, multimedia experience to convince hikers to stay the night

Social Scanner: Social gets serious about shopping

Three big social networks make moves in ecommerce, plus Vine gains traction and Target partners with popular YouTubers

Engagement Labs acquires Entrinsic

Engagement Labs has scooped up another analytics provider, Toronto's Entrinsic

Vancouver homeless campaign generates buzz worldwide

Convertible bus benches seen as antidote to anti-homeless doorway spikes

Linkedin buys ad targeting and measurement firm Bizo

$175 million deal further enhances Linkedin's B2B marketing offerings

H+K unites Americas region

Mike Coates takes helm as president and CEO as Canadian, U.S. and Latin American operations unite