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Quarterly Results of Operations (Unaudited) (Restated for Discontinued Operations)

12 Months Ended

Dec. 31, 2012

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited) (Restated for Discontinued Operations)

20. Quarterly Results of Operations (Unaudited) (Restated for Discontinued Operations)

The following table sets forth a summary of the Company’s consolidated unaudited quarterly results of operations for the years ended December 31, 2012 and 2011, in thousands of dollars, except per share amounts.

		Quarters
		First				Second				Third				Fourth
Revenue:
2012		$	235,152			$	273,506			$	267,405			$	294,648
2011		$	213,670			$	236,959			$	235,706			$	254,068
Cost of services sold:
2012		$	176,046			$	187,620			$	180,299			$	195,156
2011		$	155,891			$	159,790			$	173,447			$	180,862
Income (loss) from continuing operations:
2012		$	(23,692	)		$	(15,811	)		$	(12,392	)		$	(22,104	)
2011		$	(6,149	)		$	4,531			$	(16,815	)		$	(54,687	)
Net income (loss) attributable to MDC Partners Inc.:
2012		$	(26,281	)		$	(20,114	)		$	(14,496	)		$	(24,548	)
2011		$	(8,685	)		$	1,325			$	(19,574	)		$	(57,740	)
Income (loss) per common share:
Basic
Continuing operations:
2012		$	(0.84	)		$	(0.57	)		$	(0.44	)		$	(0.76	)
2011		$	(0.28	)		$	0.06			$	(0.65	)		$	(1.93	)
Net income (loss):
2012		$	(0.88	)		$	(0.65	)		$	(0.47	)		$	(0.79	)
2011		$	(0.31	)		$	0.05			$	(0.67	)		$	(1.97	)
Diluted
Continuing operations:
2012		$	(0.84	)		$	(0.57	)		$	(0.44	)		$	(0.76	)
2011		$	(0.28	)		$	0.05			$	(0.65	)		$	(1.93	)
Net income (loss):
2012		$	(0.88	)		$	(0.65	)		$	(0.47	)		$	(0.79	)
2011		$	(0.31	)		$	0.04			$	(0.67	)		$	(1.97	)

 The above revenue, cost of services sold, and income (loss) from continuing operations have primarily been affected by acquisitions, divestitures and discontinued operations.

Historically, with some exceptions, the Company’s fourth quarter generates the highest quarterly revenues in a year. The fourth quarter has historically been the period in the year in which the highest volumes of media placements and retail related consumer marketing occur.

Income (loss) from continuing operations and net loss have been affected as follows:

• The fourth quarter of 2012 includes non-cash stock based compensation charges of $5,827.

• The fourth quarter of 2011 includes non-cash stock based compensation charges of $5,837.

• The fourth quarter of 2012 includes deferred acquisition adjustments of $32,901.

• The fourth quarter of 2011 includes deferred acquisition adjustments of $11,757 and an additional deferred tax valuation allowance of $47,422.

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The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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