Quarterly Results of Operations (Unaudited)
 12 Months Ended
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Results of Operations (Unaudited)

22. Quarterly Results of Operations (Unaudited)

The following table sets forth a summary of the Company’s consolidated unaudited quarterly results of operations for the years ended December 31, 2013 and 2012, in thousands of dollars, except per share amounts.
 
 
 
 
 
 
Quarters
  
 
First
 
Second
 
Third
 
Fourth
Revenue:
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
2013
 
$
265,636
 
 
$
287,499
 
 
$
288,670
 
 
$
307,076
 
2012
 
$
233,790
 
 
$
271,425
 
 
$
265,410
 
 
$
292,640
 
Cost of services sold:
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
2013
 
$
177,858
 
 
$
189,677
 
 
$
189,204
 
 
$
197,755
 
2012
 
$
174,628
 
 
$
186,007
 
 
$
178,828
 
 
$
194,337
 
Income (loss) from continuing operations:
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
2013
 
$
(39,994
) 
 
$
12,651
 
 
$
(11,901
) 
 
$
(91,774
) 
2012
 
$
(22,909
) 
 
$
(15,229
) 
 
$
(11,897
) 
 
$
(21,860
) 
Net income (loss) attributable to MDC Partners Inc.:
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
2013
 
$
(43,158
) 
 
$
9,816
 
 
$
(21,200
) 
 
$
(94,321
) 
2012
 
$
(26,281
) 
 
$
(20,113
) 
 
$
(14,497
) 
 
$
(24,548
) 
Income (loss) per common share:
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
Basic
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
Continuing operations:
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
2013
 
$
(0.87
) 
 
$
0.24
 
 
$
(0.29
) 
 
$
(1.98
) 
2012
 
$
(0.55
) 
 
$
(0.38
) 
 
$
(0.28
) 
 
$
(0.50
) 
Net income (loss):
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
2013
 
$
(0.92
) 
 
$
0.21
 
 
$
(0.45
) 
 
$
(2.00
) 
2012
 
$
(0.59
) 
 
$
(0.43
) 
 
$
(0.31
) 
 
$
(0.53
) 
Diluted
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
Continuing operations:
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
2013
 
$
(0.87
) 
 
$
0.22
 
 
$
(0.29
) 
 
$
(1.98
) 
2012
 
$
(0.55
) 
 
$
(0.38
) 
 
$
(0.28
) 
 
$
(0.50
) 
Net income (loss):
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
2013
 
$
(0.92
) 
 
$
0.19
 
 
$
(0.45
) 
 
$
(2.00
) 
2012
 
$
(0.59
) 
 
$
(0.43
) 
 
$
(0.31
) 
 
$
(0.53
) 
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 2013 includes stock based compensation charges of $63,715.
•
The fourth quarter of 2012 includes stock based compensation charges of $5,827.
•
The fourth quarter of 2013 includes deferred acquisition adjustments of $30,514.
•
The fourth quarter of 2012 includes deferred acquisition adjustments of $32,901.