MDC Partners Inc. announced financial results for the three and twelve months ended December 31, 2007.
Consolidated revenues for the fourth quarter of 2007 were $155.6 million, an increase of 27.7% compared to $121.8 million in the fourth quarter of 2006. MDC Adjusted EBITDA (as defined) for the fourth quarter of 2007 was $18.7 million, an increase of 31.0% compared to $14.3 million in the fourth quarter of 2006.
"We are pleased to report another quarter of double digit organic growth, despite a strong comparable in the fourth quarter of 2006. This growth reflects strong performance amongst all of our business units. We believe that this is a result of a movement of clients to firms who understand digital innovation and how consumers consume influence in a digital economy. We believe our businesses are well positioned to take advantage of this market trend," said Miles S. Nadal, Chairman & CEO of MDC Partners.
Consolidated revenues for the twelve months ended December 31, 2007 were $547.3 million, an increase of 32.8% compared to $412.2 million in 2006. MDC Adjusted EBITDA (as defined) was $47.7 million in 2007, an increase of 45.4% compared with $32.8 million in 2006.
Adjusted cash earnings per share (as defined) from continuing operations in 2007 was $1.40 compared with $1.04 in 2006. Adjusted free cash flow in 2007 was $18.2 million compared with $1.4 million in 2006.
"Our year end results and robust new business momentum reflect our continued investment in the fastest growing aspects of marketing services. We believe that the MDC model of empowering talent to do brilliant work that strives for the greatest return on marketing investment is ideally suited for further growth and expansion in the years ahead," said Mr. Nadal. -- MDC Partners Inc.
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