Daily News
View All NewsMastech Digital revenue rises in the fourth quarter; IT staffing services up 9.1%
IT staffing provider Mastech Digital Inc. (NYSE MKT: MHH) reported revenue rose 24.9% in the fourth quarter to $40.5 million.
| (US$ thousands) | Q4 2017 | Q4 2016 | % change |
| Revenue | $40,468 | $32,402 | 24.9% |
| Gross profit | $9,525 | $6,398 | 48.9% |
| Gross margin | 23.5% | 19.7% | |
| Net income | $865 | $640 | 35.2% |
The Pittsburgh-based firm reported IT staffing services revenue rose 9.1% to $35.3 million in the fourth quarter. Gross margin also improved in the segment to 20.4%, up approximately 70-basis points from the year-ago quarter. The number of billable consultants at year-end 2017 increased to 983 in Mastech’s IT staffing services segment, up 12% from year-end 2016.
The data and analytics services segment contributed $5.1 million of revenue during the fourth quarter, up 26% from the third quarter. The company acquired the data and analytics services business with its acquisition in July of the services division of Canada-based InfoTrellis Inc.
Full-year results
| (US$ thousands) | 2017 | 2016 | % change |
| Revenue | $147,882 | $132,008 | 12.0% |
| Gross profit | $31,629 | $26,297 | 20.3% |
| Gross margin | 21.4% | 19.9% | |
| Net income | $1,626 | $2,520 | -35.5% |
Share price and market cap
Shares in Mastech were up 7.68% to $10.23 as of 12:06 Eastern time today. The company had a market cap of approximately $55.80 million.