Scott KauffmanScott Kauffman

MDC Partners reported a 2.8 percent second-quarter revenue decline to $380M and a plunge in net income to $1.1M from $8M. Organic growth dropped 1.7 percent.

Six-month revenue dropped 3.9 percent to $706.7M. Net loss widened to $30.1M from $1.7M.

CEO Scott Kauffman said 2018 "continues to be challenging." 

To improve financial performance, the firm is reviewing its portfolio of agencies and selectively investing in talent and higher growth strategic offerings.

Kauffman expects full-year organic growth to fall in the 1 percent to 3 percent range.

MDC's PR firms include Hunter PR, Allison+Partners, Sloane & Co and KWT Global, which was formerly known as Kwittken.