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Mastech: IT Demand Solid, Revenue Up 11%

January 29 2013

Mastech Holdings Inc. (MYSE MKT: MHH) reported demand for information technology staffing services remained solid and conditions in the healthcare staffing market remained positive. The Pittsburgh-based IT and healthcare staffing firm reported fourth-quarter revenue rose 10.8 percent to $26.4 million from $23.9 million in the same period last year.

However, fourth-quarter gross margin slipped to 19.0 percent from 19.3 percent in the year-ago quarter.

Net income jumped 187.7 percent to $728,000 from $253,000 in the fourth quarter of 2011.

Full-year 2012 revenue rose 14.0 percent to $101.8 million from $89.4 million in 2011. Gross margin narrowed to 18.9 percent from 19.6 percent in the previous year.

Mastech’s full-year net income of $2.1 million was up 92.2 percent from net income of $1.1 million in 2011.

Mastech Holdings Inc. (NYSE MKT: MHH)
For the fourth quarter ended Dec. 31, 2012, compared with the same period in 2011.
Revenue: $26.4 million, +10.8 percent
Net income: $728,000, +187.7 percent

For the year ended Dec. 31, 2012, compared to 2011.
Revenue: $101.8 million, +14.0 percent
Net income: $2.1 million, +92.2 percent

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