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BRIEF-MDC Partners reports Q3 results

Published 2018-10-29, 08:18 a/m
BRIEF-MDC Partners reports Q3 results
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Oct 29 (Reuters) - MDC Partners Inc MDCA.O :

* . REPORTS RESULTS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2018

* Q3 REVENUE $375.8 MILLION VERSUS I/B/E/S VIEW $373.1 MILLION

* Q3 LOSS PER SHARE $0.32

* SAYS AS A RESULT OF ADOPTION OF ASC 606, Q3 AND YEAR-TO-DATE 2018 FINANCIAL PERFORMANCE IS NOT DIRECTLY COMPARABLE WITH LAST YEAR

* SAYS IMPACT OF ADOPTION OF ASC 606 WAS REDUCTION IN NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS OF $4.7 MILLION, OR $0.08/SHARE IN Q3

* SAYS EXPECTS TO COMPLETE FISCAL YEAR 2018 WITH APPROXIMATELY $200 MILLION OF COVENANT EBITDA

* COMPANY IS WITHDRAWING ITS ADJUSTED EBITDA MARGIN GUIDANCE FOR REMAINDER OF 2018

* MDC PARTNERS - INCREASED COSTS CO ANTICIPATES INCURRING IN 2018 TO SECURE SAVINGS TO HAVE ADVERSE IMPACT ON ADJUSTED EBITDA MARGIN FOR BALANCE OF YEAR

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