[ MDC Partners' Q2 revenue jumps 26% to $170M ]
July 30, 2010 | By Canadian Press with files from Marketing | Comments
New York- and Toronto-based MDC Partners Inc. reported a 26% jump in second-quarter revenue on Thursday.
Revenue for the global advertiser and marketing communications firm was $170 million for the quarter, up from $134.9 million in the second quarter of 2009.
MDC Partners said it lost $3.8 million during the three month period, versus a profit of $1.1 million a year ago. That amounts to a loss of 19 cents per basic common share compared with a profit of a tenth of a cent.
"We are building long-term and profitable relationships with some of the biggest and best marketing brands in the world," said chairman and chief executive Miles Nadal in a release.
"We're leading the industry in developing marketing strategies that deliver superior return on marketing investment."
MDC Partners said it had net new business wins of $27.2 million for the quarter, to bring the year to date total to $33.8 million.
The company said it's increasing 2010 revenue guidance to between $640 and $655 million, an estimated increase of 17% to 20% from 2009.
MDC Partners said its 2010 consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) is $86 million to $88 million, an estimated increase of 22.6% to 25.4% from last year.
Shares in MDC Partners closed unchanged at $11.62 Thursday on the Toronto Stock Exchange.
The company has made a string of acquisitions in recent months, including New York-based social media and marketing agency Attention Partners LLC; Communefx, a marketing analytics and strategy firm in Pittsburgh, Penn.; Fort Lauderdale, Fla.-based Team Enterprises, an experiential marketing firm; and Sloane & Company, a New York-based public relations firm.


