Earnings: MDC Q2 For 2011, Revenue Grows By 41.6%

Communications company MDC reported their second quarter of 2011 with revenue of $240.5 million, an increase of 41.6% compared to $169.9 million in the second quarter of 2010.

MDC Financial Results Q2 2011 Highlights

  • Revenue increased to $240.5 million versus $169.9 million in Q2 2010, an increase of 41.6%
  • Free Cash Flow before working capital improved to $16.5 million versus $5.8 million in Q2 2010
  • Total Free Cash Flow including working capital was $19.5 million versus $34.3 million in Q2 2010
  • Technology and digital services revenue made up 51% of total revenues in Q2 2011
  • Net new business wins of $38.6 million for Q2 2011

YEAR TO DATE HIGHLIGHTS:

  • Revenue increased to $458.0 million versus $305.8 million in 2010, an increase of 49.8%
  • Organic revenue increased 23.6% for YTD 2011
  • EBITDA increased to $47.2 million versus $27.9 million in 2010, an increase of 69.3%
  • EBITDA margins improved to 10.3% versus 9.1% in 2010, an increase of 120 basis points
  • Free Cash Flow before working capital improved to $17.3 million versus $4.3 million for YTD 2010
  • Total Free Cash Flow including working capital was an outflow of ($10.7) million versus $20.8 million for YTD 2010

About Dave Forde

Dave “The Connector” Forde has been involved in the technology industry across Canada for over 10 years in sales and marketing roles, he launched PR In Canada, and on Profectio.