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).