NEW YORK: MDC Partners reported $236 million in first quarter 2012 revenue on Thursday, representing 5.4% organic growth compared with the prior year.
However, the holding company also saw an operating loss of $11.7 million and a net loss of nearly $25 million in Q1.
MDC's Strategic Marketing Services unit, which contains its PR firms, earned $160.4 million in revenue in the three months ending March 31, as well as $488,000 in operating income. The group's organic revenue was up 8.7% in the quarter, compared with Q1 2011.
MDC owns majority stakes of Allison & Partners, Attention, HL Group, Kwittken & Co., and Sloane & Company, among others.
Organic revenue represents change in constant currency without measuring the impact of acquisitions or disposals.
The holding company also reported $49.6 million in net new business wins in Q1 2012, an increase of more than 500% versus the first quarter of last year. Consumer product clients accounted for 32% of MDC's Q1 business. Other major industry sectors were retail (15%), communications (13%), and technology (10%).
Miles Nadal, chairman and CEO of MDC, said in a statement that the holding company saw “solid results in the first quarter” that “have positioned the company nicely to deliver on our annual financial projections.”