NEW YORK: MDC Partners reported an organic revenue increase of 5% to $307.1 million for the fourth quarter of 2013 on Thursday. Full-year 2013 revenue was up 8.3% organically to $1.15 billion, compared with the prior year.
The holding company's net loss in Q4 was $94.3 million, compared to a loss of $24.5 million the year prior, which it attributed to a one-time stock-based compensation charge of $55.8 million. Its net loss for the full year was $148.9 million.
The holding company owns majority stakes in Allison+Partners, HL Group, Attention, and Kwittken & Co.
MDC's operating loss in the fourth quarter was $71.6 million, compared with an operating loss of $6.9 million in Q4 2012. For the full year, MDC ran an operating loss of nearly $32 million, compared with nearly $16 million last year.
The company's Strategic Marketing Services group, which includes its PR agencies, reported revenue of $217.9 million for the fourth quarter, an organic increase of 9.3%. For 2013, the unit earned $805.4 million, representing 12.7% organic growth year-over-year.