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

‘Crave More’ attempts to make PC a lifestyle brand

New campaign from John St. asks a lot of questions

Walking without borders to help MSF

Fundraiser asks people to walk for those who benefit from Doctors Without Borders

DDB Canada is a good fit for Nordstrom’s shoe campaign

Agency's Calgary campaign impressed the U.S. marketers

Tyler Turnbull leaves Proximity Canada

One year later, presidency again vacant

Why PR still struggles with ROI (Column)

PR hasn’t become easier to measure, but there’s a bigger challenge at hand

Veritas adds two to senior team

Kim Roman and Martin McInally to head up business units

KBS+ Toronto opens new cause marketing division

Cause Company moves agency firmly into CSR space

On The Move – Weekly Roundup

A recap of who’s headed where in Canadian marketing communications