For the Year Ended December 31, 2008
(thousands of United States dollars)
| | Strategic Marketing Services | | | Performance Marketing Services Group | | Corporate | | Total | |
Revenue | | $ | 363,580 | | | | $ | 221,068 | | | $ | — | | | $ | 584,648 | | |
| | | | | | | | | | | | | | | | | | |
Cost of services sold | | | 226,699 | | | | | 165,446 | | | | — | | | | 392,145 | | |
| | | | | | | | | | | | | | | | | | |
Office and general expenses | | | 84,408 | | | | | 35,725 | | | | 17,622 | | | | 137,755 | | |
| | | | | | | | | | | | | | | | | | |
Depreciation and amortization | | | 24,814 | | | | | 9,189 | | | | 401 | | | | 34,404 | | |
| | | | | | | | | | | | | | | | | | |
Operating Profit (Loss) | | $ | 27,659 | | | | $ | 10,708 | | | $ | (18,023 | ) | | | 20,344 | | |
| | | | | | | | | | | | | | | | | | |
Other Income (Expense): | | | | | | | | | | | | | | | | | | |
Other expense, net | | | | | | | | | | | | | | | | (14 | ) | |
Foreign exchange gain | | | | | | | | | | | | | | | | 13,257 | | |
Interest expense, net | | | | | | | | | | | | | | | | (13,255 | ) | |
| | | | | | | | | | | | | | | | | | |
Income from continuing operations before income taxes, equity in affiliates | | | | | | | | | | | | | | | | 20,332 | | |
Income tax expense | | | | | | | | | | | | | | | | (2,397 | ) | |
| | | | | | | | | | | | | | | | | | |
Income from continuing operations before equity in affiliates | | | | | | | | | | | | | | | | 17,935 | | |
Equity in earnings of non-consolidated affiliates | | | | | | | | | | | | | | | | 349 | | |
| | | | | | | | | | | | | | | | | | |
Income from continuing operations | | | | | | | | | | | | | | | | 18,284 | | |
| | | | | | | | | | | | | | | | | | |
Loss from discontinued operations attributable to MDC Partners Inc., net of taxes | | | | | | | | | | | | | | | | (10,015 | ) | |
| | | | | | | | | | | | | | | | | | |
Net Income | | | | | | | | | | | | | | | | 8,269 | | |
Net income attributable to the noncontrolling interests | | $ | (5,302 | ) | | | $ | (2,834 | ) | | $ | — | | | | (8,136 | ) | |
Net income attributable to MDC Partners Inc. | | | | | | | | | | | | | | | $ | 133 | | |
| | | | | | | | | | | | | | | | | | |
Stock-based compensation from continuing operations | | $ | 6,162 | | | | $ | 3,697 | | | $ | 4,578 | | | $ | 14,437 | | |
Capital expenditures from continuing operations | | $ | 9,192 | | | | $ | 5,094 | | | $ | 109 | | | $ | 14,395 | | |
Goodwill intangibles | | $ | 224,793 | | | | $ | 60,273 | | | $ | — | | | $ | 285,066 | | |
Total assets | | $ | 358,834 | | | | $ | 132,609 | | | $ | 37,796 | | | $ | 529,239 | | |
For the Year Ended December 31, 2007
(thousands of United States dollars)
| | |
| | Strategic Marketing Services | | | Performance Marketing Services Group | | Corporate | | Total | |
Revenue | | $ | 338,524 | | | | $ | 195,359 | | | $ | — | | | $ | 533,883 | | |
| | | | | | | | | | | | | | | | | | |
Cost of services sold | | | 201,172 | | | | | 142,125 | | | | — | | | | 343,297 | | |
| | | | | | | | | | | | | | | | | | |
Office and general expenses | | | 83,644 | | | | | 32,442 | | | | 22,148 | | | | 138,234 | | |
| | | | | | | | | | | | | | | | | | |
Depreciation and amortization | | | 21,045 | | | | | 7,672 | | | | 258 | | | | 28,975 | | |
| | | | | | | | | | | | | | | | | | |
Operating Profit (Loss) | | $ | 32,663 | | | | $ | 13,120 | | | $ | (22,406 | ) | | | 23,377 | | |
| | | | | | | | | | | | | | | | | | |
Other Income (Expense): | | | | | | | | | | | | | | | | | | |
Other income, net | | | | | | | | | | | | | | | | 3,165 | | |
Foreign exchange loss | | | | | | | | | | | | | | | | (7,192 | ) | |
Interest expense, net | | | | | | | | | | | | | | | | (11,099 | ) | |
| | | | | | | | | | | | | | | | | | |
Income from continuing operations before income taxes, equity in affiliates | | | | | | | | | | | | | | | | 8,251 | | |
Income tax expense | | | | | | | | | | | | | | | | (6,081 | ) | |
| | | | | | | | | | | | | | | | | | |
Income from continuing operations before equity in affiliates | | | | | | | | | | | | | | | | 2,170 | | |
Equity in earnings of non-consolidated affiliates | | | | | | | | | | | | | | | | 165 | | |
| | | | | | | | | | | | | | | | | | |
Income from continuing operations | | | | | | | | | | | | | | | | 2,335 | | |
| | | | | | | | | | | | | | | | | | |
Loss from discontinued operations attributable to MDC Partners Inc., net of taxes | | | | | | | | | | | | | | | | (8,173 | ) | |
Net loss | | | | | | | | | | | | | | | | (5,838 | ) | |
Net income attributable to the noncontrolling interests | | $ | (17,457 | ) | | | $ | (3,060 | ) | | $ | — | | | | (20,517 | ) | |
Net loss attributable to MDC Partners Inc. | | | | | | | | | | | | | | | $ | (26,355 | ) | |
Stock-based compensation from continuing operations | | $ | 5,199 | | | | $ | 575 | | | $ | 4,443 | | | $ | 10,217 | | |
Capital expenditures from continuing operations | | $ | 10,267 | | | | $ | 8,976 | | | $ | 210 | | | $ | 19,453 | | |
Goodwill and intangibles | | $ | 212,393 | | | | $ | 60,732 | | | $ | — | | | $ | 273,125 | | |
Total assets | | $ | 359,489 | | | | $ | 152,134 | | | $ | 9,075 | | | $ | 520,698 | | |