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View All NewsMastech revenue up 13% in Q3 with boost from acquisition
Mastech Digital Inc. (NYSE MKT: MHH) reported third-quarter revenue rose 12.9%. The Pittsburgh-based provider of IT staffing provider also reported its July 2017 acquisition of InfoTrellis Inc. contributed $5.8 million to revenue in the quarter.
| (US$ thousands) | Q3 2018 | Q3 2017 | % change |
| Revenue | $44,292 | $39,228 | 12.9% |
| Gross profit | $10,710 | $8,818 | 21.5% |
| Gross margin | 24.2% | 22.5% | |
| Net income | $1,620 | ($136) | nm |
Mastech reported demand for IT staffing services remained strong in the quarter. But revenue in its project-based business line (InfoTrellis) was affected when several project start dates were pushed into the fourth quarter.
Revenue by segment
| (US$ thousands) | Q3 2018 | Q3 2017 | % change |
| IT staffing services | $38,505 | $35,159 | 9.5% |
| Data and analytics services | $5,787 | $4,069 | 42.2% |
Quote
“Productivity in our IT staffing segment continues to remain very high and the revenues were almost flat sequentially despite high seasonal vacations by billable consultants,” President and CEO Vivek Gupta said.
Share price and market cap
Shares in Mastech Digital were down 5.04% to $6.60 as of 11:16 a.m. Eastern time, and the company had a market cap of $76.13 million, according to FT.com.