Embattled MDC Partners, which is searching for a strategic partner and CEO, lost $18.2M during the third-quarter on flat revenues of $375M. It posted a $14.1M profit for the year ago period.
Organic Q3 revenue growth clocked in at 1.5 percent.
CFO David Doft sees better days ahead due to an expected $29M in cost-savings next year due to real estate consolidation and reduced headcount.
For the nine-month period, MDC posted a $48.3M loss compared to a $13M income in 2018. Revenues slipped 1.8 percent to $1.08B.
MDC’s stock is trading at $2.43. Shares ranged from to $2.28 to $11.90 during the past 52 weeks.