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

LG2 names three presidents

Mireille Côté, Mathieu Roy and Jeremy Gayton's new titles cement next-gen leadership

Doritos creates ketchup chip bouquets for Valentine’s Day

The brand is encouraging women to court males with its creation

Postmedia launches NP product in Ottawa Citizen

Post president calls it a 'dramatic expansion' of the national daily’s brand

Becel campaign adds more heart

New video series tells stories of real people showing thanks through baking

A&W gets awkward in new campaign

Spots for Chicken Buddy Burger appeal to young YouTube viewers

Cossette wins M&M Meat Shops account

The agency change comes ahead of the brand's 35th anniversary re-launch

Super Bowl ads run the gamut of emotions

From offbeat humour to heartfelt, brands do their best to stand out in the crowd

Nissan Canada takes to the mountains for Super Bowl ad

Commercial is the fifth instalment in #ConquerAllConditions campaign

The lessons from LinkedIn’s failed ad network

The social media service for professionals is reaching a critical turning point