MDC Partners, home to firms including Kwittken & Company, Lime PR, Allison & Partners, and Attention, announced a 42.7 percent year-over-year increase in Q4 revenue to $213.4 million. Organic revenue increased 14.1 percent, and revenue from technology and digital services increased to 50 percent for the quarter from 45 percent in Q3. All results are for the period ending December 31, 2010.
Net new business for the quarter was $29.1 million; the total for the year was $77.6 million.
For the year, the company announced $697.8 million in revenue, a 28 percent increase from $545.1 million in 2009. Guidance for 2010 had been between $640 million and $655 million. Organic revenue was up 7.1 percent.
“During the year, we invested significantly in talent and other growth initiatives and made strategic acquisitions all aimed at enhancing our market leadership. Our work is paying off as we generated $74 million in cash in 2010 and have positioned the business for an even more impressive 2011,” said MDC chairman and CEO Miles Nadal in a statement.
Guidance for 2011 implies between 21.8 percent and 24.7 percent growth to about $850 million in revenue.