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Mastech revenue up 10%

April 24 2013

Mastech Holdings Inc. (AMEX: MHH) reported solid demand for IT staffing services and steady market condition in the healthcare staffing business. First-quarter revenue rose 10.4 percent at the Pittsburgh-based information technology and healthcare staffing firm, to $27.0 million from $24.5 million in the same period last year.

“We are pleased with our operational performance and the financial results that we delivered in our historically challenging first quarter,” said CEO Kevin Horner.  “We were able to increase our IT billable consultant-base during the quarter by over 4 percent and grew revenues in our healthcare segment despite seasonal headwinds in our surgical nursing business.”

First-quarter gross margin narrowed to 18.1 percent from 18.2 percent in the year-ago quarter.

Net income jumped 63.3 percent to $575,000 from $352,000 in the first quarter of 2012.

Mastech Holdings Inc. (NYSE MKT: MHH)
For the first quarter ended March 31, 2013, compared with the same period in 2012.
Revenue: $27.0 million, +10.4 percent
Net income: $575,000, +63.3 percent

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