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MDC Revenue Increases, But Reports Other Losses

MDC Partners reported Q1 revenue of about $236 million, an increase of 9.7 percent versus 2011. The company also reported organic growth of 5.4 percent. However, the company also reported a number of losses for the quarter.

Operating loss was at about $11.7 million versus a profit of $2.56 million year-over-year. Net loss was about $24.6 million compared with $7 million in 2011.

Adweek also notes the Q1 drop in EBITDA of 51 percent, from $15.4 million last year to $7.5 million this year. The company has purchased or taken a stake in a number of firms over the past couple of years, including Kwittken & Company, Allison+Partners, London’s Epoch PR, and ad agency Anomaly.

“We delivered solid results in the first quarter and have positioned the company nicely to deliver on our annual financial projections,” said company CEO Miles Nadal in an earnings release statement. “With reduced leverage, over the next several years we expect a material amount of incremental EBITDA to convert to free cash flow, which should have positive implications for our shareholders.”

Guidance numbers predict an 11.3 to 14 percent increase in revenue to just over $1 billion and EBITDA increases between 21.2 percent and 26.7 percent.

For more on MDC’s earnings, click here.

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