By Kevin McCauley
MDC Partners reported a $17.6M third quarter net loss, up from $9.5M year ago due to a slowdown in spending by existing clients and "some modest delays in new projects and campaigns," said CEO Miles Nadal.
The company registered a $3.6M operating loss compared to a $1.4M profit in `10. Revenues surged 33.4 percent to $238.2M.
Nadal is bullish on long-term growth, citing "exceptional organic revenue growth and strong new business pipeline."
For the year, MDC chalked up a $20.8M net loss, down from $22.4M. Revenue was up 43.3 percent to $696.4
MDC's PR properties include Allison & Partners, Exponent PR, Kwittken & Co, HL Group and Sloane & Co.
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