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First-quarter revenue rose 22.9 percent at Mastech Holdings Inc. (AMEX: MHH), a Pittsburgh-based information technology and healthcare staffing firm, to $24.5 million from $19.9 million in the same period last year.
First-quarter gross margin narrowed to 18.2 percent from 19.3 percent in the year-ago quarter. Net income rose to $352,000 from net income of $37,000 in the year-ago quarter.
Some technology workers are commanding higher compensation causing pressure to increase prices, accoridng to Mastech.
“While we are pleased with 23 percent revenue growth for the quarter, we have to do a better job helping our client base understand the changes which are happening on the supply-side of the market,” said CEO Kevin Horner. “A tightening of industry supply will cause hardships for clients who are slow to recognize these industry trends. Additionally, we need to quickly adjust our pricing model to reflect these market dynamics.”
Mastech Holdings Inc. (AMEX: MHH)
For the first quarter ended March 31, 2012, compared with the year-ago period.
Revenue: $24.5 million, +22.9 percent
Net income: $352,000 vs. net income of $37,000