MDC reports Q4 loss despite revenue bump

MDC Partners Inc. swung to a big loss in the fourth quarter despite a 20% increase in revenue, the marketing and consulting service provider said Monday. MDC said its net loss in the three months ended Dec. 31 was US$57.7 million or US$1.97 per share, compared with a profit of US$11.5 million or 40 cents […]

MDC Partners Inc. swung to a big loss in the fourth quarter despite a 20% increase in revenue, the marketing and consulting service provider said Monday.

MDC said its net loss in the three months ended Dec. 31 was US$57.7 million or US$1.97 per share, compared with a profit of US$11.5 million or 40 cents per share in the same 2010 period.

Among other things, the company reported an increase in the cost of services sold to US$181.5 million from $140.7 million, while office and general expenses rose to US$66.9 million from $36.9 million.

Consolidated revenue grew to US$254.3 million from US$211 million in the fourth quarter of 2010.

“In the fourth quarter, we invested significantly in our business which, along with the previous investments and acquisitions we made over the last 18 months, enabled us to create a $1-billion platform with significant infrastructure built for growth,” chairman and CEO Miles Nadal said in a statement accompanying the results.

With operations in the United States, Canada, Europe and the Caribbean, MDC provides a range of marketing communications and consulting services, including advertising, interactive and mobile marketing, direct marketing, sales promotion, corporate communications, market research and the like.

Advertising Articles

Watch This: A Canadian shade of kink (kinda NSFW)

Durex Canada took a new position (or four) in time for Canada Day

On the Move: Changes at Exchange Lab, Bleublancrouge

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

Bullseye – Remember Equity?

Campaigns used to run for years. But as Mike Tennant observes, marketing has become mostly short-term plays

Vision7 phases out Dare brand, opens Camp Pacific

Shorkey, staff and clients remain, but Dare brand retired from Canadian market

Kids Help Phone reaches out with fundraising campaign

Charity's first mass campaign since 2012 targets female donors

Rob Myers to lead Ipsos in Canada

Gary Bennewies bound for Paris, global chief talent officer role

Minions have overrun General Mills Canada

Expect to see Universal's little, yellow, adorable monsters on everything

BNotions acquired for $3.8 million

The firm will continue to operate under the BNotions name

Sour lemons are a sweet thing for Plan Canada

A new summer social challenge to raise money for 'Because I Am A Girl'