MDC Partners Inc. (MDZ-A.TO) Monday reported a loss for the second quarter compared to a profit last year, due mainly to higher operating expenses, not withstanding a 15.2 percent increase in revenues.
The New York-based company's attributable net loss for the second quarter was $20.11 million or $0.65 per share, compared to a net profit of $1.32 million or $0.04 per share last year.
Total revenues for the quarter grew 15.2 percent to $274.10 million from $238.02 million in the prior-year quarter.
For the quarter, total operating expenses increased to $276.82 million from $223.16 million in the year-ago quarter.
Looking ahead, the company maintained its full-year 2012 revenue guidance range of $1.05 billion to $1.08 billion.
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