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Fourth-quarter revenue rose 17.6 percent at Mastech Holdings Inc. (AMEX: MHH), a Pittsburgh-based information technology and healthcare staffing firm, to $23.9 million from $20.3 million in the same period last year.
Fourth-quarter gross margin fell to 19.3 percent from 19.7 percent in the year-ago quarter. Net income fell 16.8 percent to $253,000 from $304,000 in the fourth quarter of 2010.
Demand for IT staffing services was solid in the fourth quarter, and market conditions in healthcare staffing were largely positive, the company reported.
Full-year 2011 revenue rose 24.5 percent year over year to $89.4 million. 2011 gross margin was unchanged at 19.6 percent from 2010.
Mastech’s full-year net income of $1.1 million was up 67.9 percent from net income of $663,000 in 2010.
Mastech Holdings Inc. (AMEX: MHH)
For the quarter ended Dec. 31, 2011, compared with the same period in 2010.
Revenue: $23.9 million, +17.6 percent
Net income: $253,000, -16.8 percent
For the year ended Dec. 31, 2011, compared to 2010.
Revenue: $89.4 million, +24.5 percent
Net income: $1.1 million, +67.9 percent