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Mastech revenue down 28%

August 13, 2009
Staffing Industry Analysts North American Daily News

Second-quarter revenue fell 27.7% at Mastech Holdings Inc. (AMEX: MHH), a Pittsburgh-based information technology staffing firm, to $17.7 million.

Gross margin narrowed to 19.3% in the second quarter from 19.5% in the same period last year.

Mastech reported second-quarter net income of $256,000 compared with net income of $1.1 million in the year-ago quarter. The company said its bottom line got a $242,000 boost in the second quarter of 2008 because of tax benefits while still part of its former parent company -- iGate Corp. Mastech spun off into its own company in the fourth quarter of 2008.

Mastech Holdings Inc. (AMEX: MHH)
For the second quarter ended June 30, 2009, compared with the same period in 2008.
Revenue: $17.7 million, -27.7%
Net income: $256,000, -76.7%