MDC Partners Reports Tech, Digital Generated 51 Percent of Q1 Revenue

By Tonya Garcia Comment

MDC Partners announced its earnings for the first quarter ending March 31, 2011, reporting revenue totaling $217.5 million, a 60 percent increase from $135.9 million in Q1 2010. The company also saw a 26.5 percent jump in organic revenue.  Net new business amounted to $8.2 million for the quarter. And technology and digital-related revenue totaled 51 percent of revenue for the quarter.

“While it’s still early in the year, with our differentiated model and a smart approach to investment and cost management, we are reiterating our 2011 fiscal year guidance,” said chairman and CEO Miles Nadal in a statement.

CFO David Doft also said that the company is “confident” it “can approach a $1 billion run rate in revenue in the next nine months.”

The revenue breaks down to $141.5 million for the Strategic Marketing Services Group, comprised of technology, integrated marketing and comms firms, and strategic consulting firms; and $76 million for the Performance Marketing Service Group, made up of the analytics, data, and consumer insights firms. MDC firms include Allison & Partners, Attention, Kwittken & Co, and Lime PR.

Among the top revenue-generating client sectors were consumer (32 percent of revenue), retail (15 percent),  and communications (12 percent).