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Mastech Revenue Rises 31%

July 27 2011

Mastech Holdings Inc. (AMEX: MHH) posted year-over-year revenue growth of 30.7 percent in the second quarter. Revenue was $22.1 million in the quarter ended June 30, up from $16.9 million in the same period last year.

Second-quarter gross margin at the Pittsburgh-based information technology and healthcare staffing firm rose to 20.1 percent from 19.9 percent in the year-ago quarter.

Net income rose to $382,000 from $109,000 in the second quarter of 2010.

Demand for the company’s IT staffing services rose during the second quarter of 2011 as the company grew its billable consultant headcount by 12.3 percent. Market conditions in healthcare continue to show some signs of improvement, the company said, posting sequential revenue growth for the fourth consecutive quarter.

Mastech Holdings Inc. (AMEX: MHH)
For the second quarter ended June 30, 2011, compared with the same period in 2010.
Revenue: $22.1 million, +30.7 percent
Net income: $382,000, compared with $109,000

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