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

Why marketers should push forward, not pull back

In today's economy, slashing ad budgets can mean lost sales and lost opportunities

Time to change our research strategies (Column)

Three tips to consider for your next millennial campaign plan

Simons selects Cossette as agency partner for expansion

Agency to help Quebec retailer build brand awareness outside its home province

Airbnb signs deal to sponsor 2016 Rio Olympic Games

Online community is the Games' first alternative accommodations sponsor

Ontario Tourism invades Instagram

15-second videos on social site support upcoming Pan Am/Parapan Am Games

Grey Canada gets a shot at Tequila Herradura

Brown-Forman brand awards digital CRM and below-the-line duties to WPP shop

Big changes bring Juniper Park into TBWA Worldwide

Network shifts global executive structure, Jay Bertram re-focuses on Canada

Activia kicks off campaign with world record attempt

Yogurt brand positions itself as a "lifestyle partner" through Rogers Media partnership