By Kevin McCauley
MDC Partners CEO Miles Nadal today reported $11.5M in Q4 profit compared to an $18.5M year ago loss as revenues surged 42.7 percent to $213.4M.
Nadal said the firm "invested significantly in talent and other growth initiatives and made strategic acquisitions aimed at enhancing market leadership." He believes MDC, which is parent to Allison & Partners, Kwittken and Co., and Sloane & Co., is positioned to deliver an "even more impressive 2011."
Nadal projects 2011 revenues in the $850M to $870M range, while EDITDA to rise more than 25 percent to the $108M to $112M mark.
As a sign of confidence, MDC bolstered its dividend 7.7 percent to 14 cents a share.
Nadal told shareholders that he expects to add more payout hikes while "still having ample capital available to finance our growth initiatives." MDC generated $74M in 2010 cash.
For the full-year, MDC lost $15.4M, down from $18.3M in '09. Revenues rose 28 percent to $698M.
|