November 1, 2011 / 9:30 PM / 6 years ago

UPDATE 1-MDC Q3 loss widens on project delays

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Nov 1 (Reuters) - Canada’s MDC Partners Inc MDZa.TO posted a wider quarterly loss, hurt by a slowdown in client work and delays in new projects and campaigns, and the advertising holding company raised its full-year revenue forecast.

The company, which focuses on the U.S. markets, now expects revenue of C$915-C$930 million, up about 31-33 percent from its prior estimate.

Analysts on an average are expecting revenue of C$940.5 million, according to Thomson Reuters I/B/E/S.

For the third quarter, the company posted a net loss from continuing operations of C$19.6 million, or 67 cents per share, compared with C$10.9 million, or 36 cents a share, in the year ago period.

Revenue for the quarter rose to C$238.2 million, up from C$178.6 million a year ago.

Shares of the company closed down 8 percent at C$16.00 on Tuesday on the Toronto Stock Exchange. (Reporting by Arnav Das Sharma in Bangalore; Editing by Roshni Menon)

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