MDC Partners Has Lots of Business News
Three pieces of news today from MDC Partners, parent company to Allison & Partners, Attention, and a number of other PR, advertising, and marketing firms.
First, the company announced that it has increased its revenue guidance for FY 2012 by $50 million. That brings the figure to the $105 billion to $1.075 billion range. EBITDA guidance is also going up by $8 million and free cash flow guidance is going up by $7 million.
“From a balance sheet perspective, we ended the first quarter with approximately $5-10 million of excess cash, zero net borrowings under our $150 million credit facility and total net debt below $340 million,” CFO David Doft said
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