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MDC Partners Inc. reports record results for the three and six months ended June 30, 2007
QUARTERLY HIGHLIGHTS:
- Revenues increased to $135.3 million vs. $100.1 million in Q2 2006,
an increase of 35.1%
- Organic revenue growth of 27.0% for Q2 2007
- MDC EBITDA increased to $7.6 million vs. $6.4 million in Q2 2006, an
increase of 18.8%
- MDC Adjusted EBITDA increased to $11.2 million vs. $7.2 million in
Q2 2006, an increase of 55.6%
- Cash EPS of $0.36 vs. $0.25 in Q2 2006, an increase of 44.0%
- Adjusted Cash EPS of $0.44 vs. $0.26 in Q2 2006, an increase of 69.2%
YEAR TO DATE HIGHLIGHTS:
- Revenues increased to $254.8 million vs. $198.2 million in the first
half of 2006, an increase of 28.5%
- Organic revenue growth of 21.9% in the first half of 2007
- MDC EBITDA of $12.0 million vs. $13.7 million in the first half of
2006, a decline of 12.4%
- MDC Adjusted EBITDA of $17.5 million vs. $10.5 million in the first
half of 2006, an increase of 66.7%
- Cash EPS of $0.55 vs. $0.51 in the first half of 2006, an increase of
7.8%
- Adjusted Cash EPS of $0.68 vs. $0.41 in the first half of 2006, an
increase of 65.9%
NEW YORK, Aug. 1 /CNW/ - MDC Partners Inc. ("MDC Partners" or the
"Company") today announced record financial results for the three and six
months ended June 30, 2007.
Consolidated revenues for the three months ended June 30, 2007 were
$135.3 million, an increase of 35.1% compared to $100.1 million in the same
period of 2006. Operating income for the second quarter of 2007 was
$5.2 million versus $2.9 million for the second quarter of 2006, an increase
of 79.3%. Net loss from continuing operations for the quarter ended June 30,
2007 was ($2.6) million versus a loss of ($1.0) million for the same period in
2006. The loss during 2007 included a non-cash unrealized foreign exchange
charge of $2.5 million due to the decline of the U.S. dollar relative to the
Canadian dollar. Diluted loss per share from continuing operations for the
second quarter of 2007 was ($0.11) compared to ($0.04) in the same period last
year.
MDC Partners' share of EBITDA (as defined) increased to $7.6 million in
the second quarter of 2007 compared with $6.4 million in the second quarter of
2006. Adjusting for unusual or non-recurring items, MDC Adjusted EBITDA (as
defined) is $11.2 million in the quarter compared with $7.2 million last year,
an increase of 55.6%. Cash earnings per share from continuing operations (as
defined) for the second quarter of 2007 increased to $0.36 compared with $0.25
in the second quarter of 2006. Adjusted cash earnings per share (as defined)
increased to $0.44 from $0.26 during the same period last year.
Consolidated revenues for the six months ended June 30, 2007 were
$254.8 million, an increase of 28.5% compared to $198.2 million in the same
period of 2006. Operating income for the first half of 2007 was $1.6 million
versus $4.7 million during the same period of 2006. Excluding a goodwill
impairment charge, operating income in the first half of the year was $6.0
million or 27.7% better than the same period in 2006. Net loss from continuing
operations for the six months ended June 30, 2007 was ($11.4) million versus a
loss of ($5.4) million for the same period in 2006. The loss during 2007
included a non-cash unrealized foreign exchange charge of $2.9 million due to
the decline of the U.S. dollar relative to the Canadian dollar. Diluted loss
per share from continuing operations for the first half of 2007 was ($0.46)
compared to ($0.23) last year.
MDC Partners' share of EBITDA (as defined) was $12.0 million in the first
half of 2007 compared with $13.7 million in the same period of 2006. Adjusting
for unusual or non-recurring items, MDC Adjusted EBITDA (as defined) was
$17.5 million in the first six months of 2007, compared with $10.5 in the same
period last year, a 66.7% increase. Year to date cash earnings per share from
continuing operations (as defined) in 2007 increased to $0.55 compared with
$0.51 in 2006. Adjusted cash earnings per share (as defined) increased to
$0.68 from $0.41 during the same period last year.
"We are very pleased with our second quarter results which significantly
exceeded our internal expectations and we believe that our robust organic
growth is a reflection of the significant investment we have and continue to
make in talent and capabilities across the entire network, especially in the
areas of digital innovation and other non-traditional media services. We are
particularly enthusiastic about our new partnership with Redscout, a brand
strategy and innovation firm who joined the network in June. As clients are
increasingly relying on their marketing partners to implement solutions that
drive growth, we believe that MDC's market positioning as 'The Place Where
Great Talent Lives' and the effectiveness of and results generated by our
Partner's work will continue to attract clients who are looking to work with
firms who know how to drive results for their businesses," said Miles S.
Nadal, Chairman & CEO of MDC Partners.
The Company affirms it previously issued guidance for 2007 of revenues of
$490 to $500 million, MDC's EBITDA (as defined) of $39 to $41 million and Cash
EPS (as defined) of $1.28 to $1.32.
Conference Call
Management will host a conference call on August 2, at 8:30 a.m. (EST) to
discuss our results. The conference call will be accessible by dialing
1-416-644-3421 or toll free 1-800-594-3790. An investor presentation has been
posted on our website www.mdc-partners.com and will be referred to during the
conference call.
About MDC Partners Inc.
MDC Partners is a leading provider of marketing communications solutions
and services to clients in North America, Europe and Latin America. Through
its partnership of entrepreneurial firms it provides advertising, specialized
communications and consulting services to leading brands. MDC Partners'
philosophy emphasizes the utilization of strategy and creativity to drive
growth for its clients. "MDC Partners is The Place Where Great Talent Lives".
MDC Partners Class A shares are publicly traded on the NASDAQ under the symbol
"MDCA" and on the Toronto Stock Exchange under the symbol "MDZ.A".
Non-GAAP Financial Measures
In addition to its reported results, MDC Partners has included in this
earnings release certain financial results that the Securities and Exchange
Commission defines as "non-GAAP financial measures." Management believes that
such non-GAAP financial measures, when read in conjunction with the Company's
reported results, can provide useful supplemental information for investors
analyzing period to period comparisons of the Company's growth. These non-GAAP
financial measures relate to: (1) presenting MDC's share of EBITDA and MDC
Adjusted EBITDA (as defined) for the three and six months ended June 30, 2007
and June 30, 2006; and (2) presenting Cash Earnings per Share from Continuing
Operations and Adjusted Cash Earnings per Share from Continuing Operations (as
defined) for the three and six months ended June 30, 2007 and 2006. Included
in this earnings release are tables reconciling MDC's reported results to
arrive at these non-GAAP financial measures.
This press release contains forward-looking statements. The Company's
representatives may also make forward-looking statements orally from time to
time. Statements in this press release that are not historical facts,
including statements about the Company's beliefs and expectations, recent
business and economic trends, potential acquisitions, estimates of amounts for
deferred acquisition consideration and "put" option rights, constitute
forward-looking statements. These statements are based on current plans,
estimates and projections, and are subject to change based on a number of
factors, including those outlined in this section. Forward-looking statements
speak only as of the date they are made, and the Company undertakes no
obligation to update publicly any of them in light of new information or
future events, if any.
Forward-looking statements involve inherent risks and uncertainties. A
number of important factors could cause actual results to differ materially
from those contained in any forward-looking statements. Such risk factors
include, but are not limited to, the following:
- risks associated with effects of national and regional economic
conditions;
- the Company's ability to attract new clients and retain existing
clients;
- the financial success of the Company's clients;
- the Company's ability to remain in compliance with its debt
agreements and the Company's ability to finance its contingent
payment obligations when due and payable, including but not limited
to those relating to "put" option rights;
- the Company's ability to retain and attract key employees;
- the successful completion and integration of acquisitions which
complement and expand the Company's business capabilities;
- foreign currency fluctuations; and
- risks arising from the Company's historical option grant practices.
In addition to improving organic growth for its existing operations, the
Company's business strategy includes ongoing efforts to engage in material
acquisitions of ownership interests in entities in the marketing
communications services industry. The Company intends to finance these
acquisitions by using available cash from operations and through incurrence of
bridge or other debt financing, either of which may increase the Company's
leverage ratios, or by issuing equity, which may have a dilutive impact on
existing shareholders proportionate ownership. At any given time the Company
may be engaged in a number of discussions that may result in one or more
material acquisitions. These opportunities require confidentiality and may
involve negotiations that require quick responses by the Company. Although
there is uncertainty that any of these discussions will result in definitive
agreements or the completion of any transactions, the announcement of any such
transaction may lead to increased volatility in the trading price of the
Company's securities.
Investors should carefully consider these risk factors and the additional
risk factors outlined in more detail in the Annual Report on Form 10-K under
the caption "Risk Factors" and in the Company's other SEC filings.
SCHEDULE 1
MDC PARTNERS INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(US$ in 000s, except share and per share amounts)
Three months ended Six months ended
June 30, June 30,
----------------------- -----------------------
2007 2006 2007 2006
-------------------------------------------------------------------------
Revenue $135,257 $100,138 $254,788 $198,211
Operating Expenses
Cost of services sold 87,817 60,900 166,372 120,641
Office and general
expenses 35,969 31,185 70,144 61,007
Depreciation
and amortization 6,280 5,118 12,245 11,900
Goodwill impairment - - 4,475 -
----------------------- -----------------------
130,066 97,203 253,236 193,548
----------------------- -----------------------
Operating Income 5,191 2,935 1,552 4,663
Other Income (Expenses)
Other income (expense) (1,033) 509 (1,767) 1,073
Interest expense (3,768) (1,996) (6,491) (4,894)
Interest income 1,075 144 1,228 258
----------------------- -----------------------
Income (Loss) from
Continuing Operations
Before Income Taxes,
Equity in Affiliates
and Minority Interests 1,465 1,592 (5,478) 1,100
Income Tax Recovery 1,292 608 3,780 1,176
----------------------- -----------------------
Income (Loss) from
Continuing Operations
Before Equity in
Affiliates and
Minority Interests 2,757 2,200 (1,698) 2,276
Equity in Earnings
of Non-consolidated
Affiliates 61 227 11 501
Minority Interests in
Income of Consolidated
Entities (5,419) (3,434) (9,710) (8,185)
----------------------- -----------------------
Loss From Continuing
Operations (2,601) (1,007) (11,397) (5,408)
Loss from Discontinued
Operations - (9,496) - (10,228)
----------------------- -----------------------
Net Loss ($2,601) ($10,503) ($11,397) ($15,636)
----------------------- -----------------------
----------------------- -----------------------
Loss Per Common Share
Basic:
Continuing
Operations ($0.11) ($0.04) ($0.46) ($0.23)
Discontinued
Operations - (0.40) - (0.43)
----------------------- -----------------------
Net Loss ($0.11) ($0.44) ($0.46) ($0.66)
----------------------- -----------------------
----------------------- -----------------------
Diluted:
Continuing
Operations ($0.11) ($0.04) ($0.46) ($0.23)
Discontinued
Operations - (0.40) - (0.43)
----------------------- -----------------------
Net Loss ($0.11) ($0.44) ($0.46) ($0.66)
----------------------- -----------------------
----------------------- -----------------------
Weighted Average
Number of Common
Shares:
Basic 24,752,472 23,858,327 24,514,954 23,818,182
Diluted 24,752,472 23,858,327 24,514,954 23,818,182
-------------------------------------------------------------------------
SCHEDULE 2
MDC PARTNERS INC.
RECONCILIATION OF OPERATING INCOME (LOSS) TO EBITDA(*)
(US$ in 000s)
For the Three Months Ended June 30, 2007
Customer Specialized
Strategic Relation- Communi- Corporate
Marketing ship cation &
Services Management Services Other Total
-------------------------------------------------------------------------
Revenue $78,445 $25,681 $31,131 - $135,257
-----------------------------------------------------------
-----------------------------------------------------------
Operating
Income (Loss)
as Reported $9,449 $532 $1,778 ($6,568) $5,191
Add:
Depreciation
and amorti-
zation 3,853 1,530 802 95 6,280
Stock-based
compensation 242 - 3 1,308 1,553
-----------------------------------------------------------
EBITDA (*) 13,544 2,062 2,583 (5,165) 13,024
Less: Minority
Interests (4,250) (13) (1,156) - (5,419)
-----------------------------------------------------------
MDC's Share of
EBITDA(xx) $9,294 $2,049 $1,427 ($5,165) $7,605
-------------------------------------------------------------------------
(*) EBITDA is a non-GAAP measure, but as shown above it represents
operating income (loss) plus depreciation and amortization, and
stock-based compensation.
(xx) MDC's Share of EBITDA is a non-GAAP measure, but as shown above it
represents operating income (loss) plus depreciation and
amortization and stock-based compensation less minority interests.
MDC PARTNERS INC.
RECONCILIATION OF OPERATING INCOME (LOSS) TO EBITDA(*)
(US$ in 000s)
For the Three Months Ended June 30, 2006
Customer Specialized
Strategic Relation- Communi- Corporate
Marketing ship cation &
Services Management Services Other Total
-------------------------------------------------------------------------
Revenue $55,634 $20,906 $23,598 - $100,138
-----------------------------------------------------------
-----------------------------------------------------------
Operating
Income (Loss)
as Reported $6,665 $313 $2,340 ($6,383) $2,935
Add:
Depreciation
and amorti-
zation 3,493 1,125 437 63 5,118
Stock-based
compensation 271 6 - 1,530 1,807
-----------------------------------------------------------
EBITDA(*) 10,429 1,444 2,777 (4,790) 9,860
Less: Minority
Interests (2,723) (8) (703) - (3,434)
-----------------------------------------------------------
MDC's Share
of EBITDA(xx) $7,706 $1,436 $2,074 ($4,790) $6,426
-------------------------------------------------------------------------
(*) EBITDA is a non-GAAP measure, but as shown above it represents
operating income (loss) plus depreciation and amortization, and
stock-based compensation.
(xx) MDC's Share of EBITDA is a non-GAAP measure, but as shown above it
represents operating income (loss) plus depreciation and
amortization and stock-based compensation less minority interests.
SCHEDULE 3
MDC PARTNERS INC.
RECONCILIATION OF OPERATING INCOME (LOSS) TO EBITDA(*)
(US$ in 000s)
For the Six Months Ended June 30, 2007
Customer Specialized
Strategic Relation- Communi- Corporate
Marketing ship cation &
Services Management Services Other Total
-------------------------------------------------------------------------
Revenue $149,008 $49,249 $56,531 - $254,788
-----------------------------------------------------------
-----------------------------------------------------------
Operating
Income (Loss)
as Reported $16,007 $1,093 ($2,273) ($13,275) $1,552
Add:
Depreciation
and amorti-
zation 7,597 3,080 1,383 185 12,245
Stock-based
compensation 491 5 7 2,966 3,469
Impairment
charges - - 4,475 - 4,475
-----------------------------------------------------------
EBITDA(*) 24,095 4,178 3,592 (10,124) 21,741
Less: Minority
Interests (7,966) (27) (1,717) - (9,710)
-----------------------------------------------------------
MDC's Share
of EBITDA(xx) $16,129 $4,151 $1,875 ($10,124) $12,031
-------------------------------------------------------------------------
(*) EBITDA is a non-GAAP measure, but as shown above it represents
operating income (loss) plus depreciation and amortization,
stock-based compensation and impairment charges.
(xx) MDC's Share of EBITDA is a non-GAAP measure, but as shown above it
represents operating income (loss) plus depreciation and
amortization, stock-based compensation and impairment charges less
minority interests.
MDC PARTNERS INC.
RECONCILIATION OF OPERATING INCOME (LOSS) TO EBITDA(*)
(US$ in 000s)
For the Six Months Ended June 30, 2006
Customer Specialized
Strategic Relation- Communi- Corporate
Marketing ship cation &
Services Management Services Other Total
-------------------------------------------------------------------------
Revenue $112,525 $39,812 $45,874 - $198,211
-----------------------------------------------------------
-----------------------------------------------------------
Operating
Income (Loss)
as Reported $13,251 $883 $3,013 ($12,484) $4,663
Add:
Depreciation
and amorti-
zation 8,753 2,189 861 97 11,900
Stock-based
compensation 491 12 2,338 2,491 5,332
-----------------------------------------------------------
EBITDA(*) 22,495 3,084 6,212 (9,896) 21,895
Less: Minority
Interests (6,676) (38) (1,471) - (8,185)
-----------------------------------------------------------
MDC's Share
of EBITDA(xx) $15,819 $3,046 $4,741 ($9,896) $13,710
-------------------------------------------------------------------------
(*) EBITDA is a non-GAAP measure, but as shown above it represents
operating income (loss) plus depreciation and amortization, and
stock-based compensation.
(xx) MDC's Share of EBITDA is a non-GAAP measure, but as shown above it
represents operating income (loss) plus depreciation and
amortization and stock-based compensation less minority interests.
SCHEDULE 4
MDC PARTNERS INC.
RECONCILIATION OF MDC EBITDA TO MDC ADJUSTED EBITDA
(US$ in 000s)
For the Three Months Ended June 30, 2007
Customer Specialized
Strategic Relation- Communi- Corporate
Marketing ship cation &
Services Management Services Other Total
-------------------------------------------------------------------------
MDC's Share
of EBITDA(*) $9,294 $2,049 $1,427 ($5,165) $7,605
Losses from
Margeotes
Fertitta
Powell
(ceased
operations) - - 1,925 - 1,925
Retention
payments 875 - - 823 1,698
-----------------------------------------------------------
MDC Adjusted
EBITDA(xx) $10,169 $2,049 $3,352 ($4,342) $11,228
-------------------------------------------------------------------------
(*) MDC's Share of EBITDA is a non-GAAP measure, but as shown above it
represents operating income (loss) plus depreciation and
amortization and stock-based compensation less minority interests.
(xx) MDC's Adjusted EBITDA is a non-GAAP measure, but as shown above it
represents MDC's Share of EBITDA plus unusual and non-recurring
charges during the quarter.
MDC PARTNERS INC.
RECONCILIATION OF MDC EBITDA TO MDC ADJUSTED EBITDA
(US$ in 000s)
For the Three Months Ended June 30, 2006
Customer Specialized
Strategic Relation- Communi- Corporate
Marketing ship cation &
Services Management Services Other Total
-------------------------------------------------------------------------
MDC's Share
of EBITDA(*) $7,706 $1,436 $2,074 ($4,790) $6,426
Losses from
Margeotes
Fertitta
Powell
(ceased
operations) - - 1,125 - 1,125
Client
Termination
Payment (750) - - - (750)
Consolidation
of Equity
Affiliates 329 - 75 - 404
-----------------------------------------------------------
MDC Adjusted
EBITDA(xx) $7,285 $1,436 $3,274 ($4,790) $7,205
-------------------------------------------------------------------------
(*) MDC's Share of EBITDA is a non-GAAP measure, but as shown above it
represents operating income (loss) plus depreciation and
amortization, stock-based compensation and impairment charges
less minority interests.
(xx) MDC's Adjusted EBITDA is a non-GAAP measure, but as shown above it
represents MDC's Share of EBITDA plus unusual and non-recurring
charges during the quarter.
SCHEDULE 5
MDC PARTNERS INC.
RECONCILIATION OF MDC EBITDA TO MDC ADJUSTED EBITDA
(US$ in 000s)
For the Six Months Ended June 30, 2007
Customer Specialized
Strategic Relation- Communi- Corporate
Marketing ship cation &
Services Management Services Other Total
-------------------------------------------------------------------------
MDC's Share
of EBITDA(xx) $16,129 $4,151 $1,875 ($10,124) $12,031
Losses from
Margeotes
Fertitta
Powell
(ceased
operations) - - 2,935 - 2,935
Retention
payments 1,750 - - 823 2,573
-----------------------------------------------------------
MDC Adjusted
EBITDA(xx) $17,879 $4,151 $4,810 ($9,301) $17,539
-------------------------------------------------------------------------
(*) MDC's Share of EBITDA is a non-GAAP measure, but as shown above it
represents operating income (loss) plus depreciation and
amortization, stock-based compensation and impairment charges less
minority interests.
(xx) MDC's Adjusted EBITDA is a non-GAAP measure, but as shown above it
represents MDC's Share of EBITDA plus unusual and non-recurring
charges during the period.
MDC PARTNERS INC.
RECONCILIATION OF MDC EBITDA TO MDC ADJUSTED EBITDA
(US$ in 000s)
For the Six Months Ended June 30, 2006
Customer Specialized
Strategic Relation- Communi- Corporate
Marketing ship cation &
Services Management Services Other Total
-------------------------------------------------------------------------
MDC's Share
of EBITDA(xx) $15,819 $3,046 $4,741 ($9,896) $13,710
Losses from
Margeotes
Fertitta
Powell
(ceased
operations) - - 1,300 - 1,300
Client
Termination
Payment (5,250) - - - (5,250)
Consolidation
of Equity
Affiliates 597 - 130 - 727
-----------------------------------------------------------
MDC Adjusted
EBITDA(xx) $11,166 $3,046 $6,171 ($9,896) $10,487
-------------------------------------------------------------------------
(*) MDC's Share of EBITDA is a non-GAAP measure, but as shown above it
represents operating income (loss) plus depreciation and
amortization and stock-based compensation less minority interests.
(xx) MDC's Adjusted EBITDA is a non-GAAP measure, but as shown above it
represents MDC's Share of EBITDA plus unusual and non-recurring
charges during the period.
SCHEDULE 6
MDC PARTNERS INC.
RECONCILIATION OF LOSS FROM CONTINUING
OPERATIONS TO CASH EARNINGS PER SHARE
(US$ in 000s, except per share amounts)
Three months ended Six months ended
June 30, June 30,
----------------------- -----------------------
2007 2006 2007 2006
-------------------------------------------------------------------------
Loss from Continuing
Operations ($2,601) ($1,007) ($11,397) ($5,408)
Depreciation &
Amortization 7,361 5,531 13,904 12,724
Stock-Based
Compensation 1,553 1,807 3,469 5,332
Non-cash Unrealized
Foreign Exchange 2,489 (441) 2,893 (498)
Impairment Charges - - 4,550 -
----------------------- -----------------------
Cash Earnings $8,802 $5,890 $13,419 $12,150
Diluted Shares 24,752 23,858 24,515 23,818
Cash EPS $0.36 $0.25 $0.55 $0.51
MDC PARTNERS INC.
RECONCILIATION OF CASH EARNINGS TO
ADJUSTED CASH EARNINGS PER SHARE
(US$ in 000s, except per share amounts)
Three months ended Six months ended
June 30, June 30,
----------------------- -----------------------
2007 2006 2007 2006
-------------------------------------------------------------------------
Cash Earnings $8,802 $5,890 $13,419 $12,150
Losses from
Margeotes
Fertitta
Powell
(ceased
operations) 1,925 1,125 2,935 1,300
Retention payments 1,698 - 2,573 -
Client termination
payment - (750) - (5,250)
Tax Effect on
Adjustments (1,449) (150) (2,203) 1,580
----------------------- -----------------------
Adjusted Cash
Earnings $10,976 $6,115 $16,724 $9,780
Adjusted Cash EPS $0.44 $0.26 $0.68 $0.41
SCHEDULE 7
MDC PARTNERS INC.
CONSOLIDATED BALANCE SHEETS
(US$ in 000s)
(unaudited)
June 30, December 31,
2007 2006
-------------------------------------------------------------------------
Assets
Current Assets:
Cash and cash equivalents $ 9,359 $ 6,591
Accounts receivable, net 143,733 125,744
Expenditures billable to clients 19,655 28,077
Prepaid expenses 8,635 4,816
Other current assets 3,912 1,248
---------------------------
Total Current Assets 185,295 166,476
Fixed assets 42,594 44,425
Investment in affiliates 861 2,058
Goodwill 207,924 203,693
Other intangible assets, net 49,955 48,933
Deferred tax assets 13,563 13,332
Other assets 17,704 14,584
---------------------------
Total Assets $ 517,896 $ 493,501
---------------------------
---------------------------
Liabilities and Shareholders' Equity
Current Liabilities:
Short-term debt $ - $ 4,910
Revolving credit facility - 45,000
Accounts payable 97,224 90,588
Accrued and other liabilities 62,853 75,315
Advance billings 52,039 51,804
Current portion of long term debt 704 1,177
Deferred acquisition consideration 1,359 2,721
---------------------------
Total Current Liabilities 214,179 271,515
Revolving credit facility 22,215 -
Long-term debt 62,162 5,754
Convertible notes 42,238 38,613
Other liabilities 6,239 5,512
Deferred tax liabilities 1,148 1,140
---------------------------
Total Liabilities 348,181 322,534
---------------------------
Minority Interests 48,125 46,553
---------------------------
Shareholders' Equity:
Common stock 189,204 184,699
Share capital to be issued 346 -
Additional paid in capital 27,421 26,216
Accumulated deficit (98,011) (86,614)
Treasury stock (660) -
Stock subscription receivable (373) (643)
Accumulated other comprehensive income 3,663 756
---------------------------
Total Shareholders' Equity 121,590 124,414
---------------------------
Total Liabilities and Shareholders' Equity $ 517,896 $ 493,501
---------------------------
---------------------------
For further information:
For further information: Donna Granato, Director, Finance & Investor Relations, (646) 429-1809, dgranato@mdc-partners.com
Organization Profile
MDC Partners Inc.
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