Telsey Downgrades MDC Partners (MDCA) to Market Perform
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MDC Partners Inc. Reports Results For The Three And Six Months Ended June 30, 2016
July 28, 2016 4:01 PM EDTNEW YORK, July 28, 2016 /PRNewswire/ --
SECOND QUARTER HIGHLIGHTS:
Reported revenue increased 0.1% to $337.0 million; Organic revenue growth of 0.3%, 20 basis points negative impact from decreased billable pass-through costs Net income attributable to MDC Partners of $1.2 million vs $29.6 million Adjusted EBITDA decreased 11.8% to $41.9 million, with margins of 12.4% (See Schedules 2 and 3) Company revises 2016 financial guidance to reflect lowered full year expectationsYEAR-TO-DATE HIGHLIGHTS:
Reported revenue increased 1.1% to $646.1 million; Organic revenue growth of 1.2%, 120 basis point negative impact from decreased billable pass-through costs... More