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View All NewsMastech revenue up 10% in Q4
Mastech Digital Inc. (NYSE MKT: MHH) reported fourth-quarter revenue rose 10.3%. The Pittsburgh-based provider of IT staffing provider also reported its data and analytics services segment contributed $5.4 million to revenue in the quarter, up from $5.1 million in the fourth quarter of 2017; Mastech acquired the business with its acquisition in July 2017 of the services division of InfoTrellis Inc.
| (US$ thousands) | Q4 2018 | Q4 2017 | % change |
| Revenue | $44,645 | $40,468 | 10.3% |
| Gross profit | $10,665 | $9,525 | 12.0% |
| Gross margin | 23.9% | 23.5% | |
| Net income | $874 | $865 | 1.0% |
Organic revenue in Mastech’s IT staffing segment rose 11% year over year during the fourth quarter; the company stated that demand for its IT staffing services remained strong and more than offset the expected higher level of seasonal assignment ends that the company experiences during the fourth quarter.
Quote
“Our data and analytics services segment did well during the fourth quarter in terms of both pipeline growth and project wins,” President and CEO Vivek Gupta said. “Investments made in our sales organization during the year are starting to bear fruit when we look at fourth quarter activity levels.”
Full-year results
| (US$ thousands) | 2018 | 2017 | % change |
| Revenue | $177,164 | $147,882 | 19.8% |
| Gross profit | $42,528 | $31,629 | 34.5% |
| Gross margin | 24.0% | 21.4% | |
| Net income | $6,691 | $1,626 | nm |
Share price and market cap
Shares in Mastech Digital were down 5.01% to $6.92 as of 10:53 a.m. Eastern time, and the company had a market cap of $79.96 million, according to FT.com.