MDC Sees Big Drop in Q1 EBITDA

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MDC Partners said first-quarter results were hit by increased severance costs and the impact of acquisition activity in the second half of last year. The company said EBITDA, earnings before interest, taxes, depreciation and amortization, dropped to $7.5 million, a 51 percent decline from $15.4 million reported in the 2011 quarter.

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