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Mastech revenue up 14%

July 24 2013

Mastech Holdings Inc. (NYSE MKT: MHH) reported solid demand for information staffing services and steady market condition in the healthcare staffing business in the second quarter ended June 30. Second-quarter revenue rose 14.3 percent at the Pittsburgh-based IT and healthcare staffing firm to $28.9 million from $25.3 million in the same period last year.

“During the quarter, we were able to increase our IT billable consultant-base by 9 percent and sequentially grew revenues by 7 percent despite some headwinds in our travel nursing business,” said CEO Kevin Horner. “Operationally, we are now generating a return on our focused investments made to our recruiting organization. Commercially, we are beginning to see gross margin expansion as our sales organization takes a more disciplined approach in securing new assignments.”

Second-quarter gross margin narrowed to 18.9 percent from 19.1 percent in the year-ago quarter.

Net income jumped 72.3 percent to $789,000 from $458,000 in the second quarter of 2012.

Mastech Holdings Inc. (NYSE MKT: MHH)
For the second quarter ended June, 2013, compared with the same period in 2012.
Revenue: $28.9 million, +14.3 percent
Net income: $789,000, +72.3 percent


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