Fourth-quarter revenue at Mastech Digital Inc. (NYSEAMERICAN: MHH) fell 19.5% year over year to $46.1 million. Both Mastech’s IT staffing business and data and analytics services operations saw revenue fall. Gross margin narrowed at the Pittsburgh-based firm.

“Challenging economic conditions weighed on clients’ spending practices for most of 2023,” President and CEO Vivek Gupta said. “As a result, both of our business segments experienced revenue declines during the year. However, during the fourth quarter 2023, our Data and Analytics segment saw a notable uptick in order bookings, and our IT Staffing segment achieved billable consultant headcount growth in October and November before experiencing the seasonally high project ends of December.”

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Share price

Shares in Mastech were up 0.94% to $8.56 as of 11:43 a.m. Eastern time today. They were 14.13% above their 52-week low.