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View All NewsMastech Q4 revenue up 14%
Fourth-quarter revenue rose 14.0% at IT staffing provider Mastech Holdings Inc. (NYSE MKT: MHH) to $32.5 million.
The company reported staffing services remained strong from the third quarter but its billable consultant base declined 5% during the fourth quarter.
| (US$ thousands) | Q4 2015 | Q4 2014 | % change |
| Revenue | $32,540 | $28,549 | 14.0% |
| Gross profit | $6,718 | $5,228 | 28.5% |
| Gross margin | 20.6% | 18.3% | |
| Net income | $1,289 | $782 | 64.8% |
Quote
“While our fourth quarter operating results and year-over-year comparables indicate that we have done an excellent acquisition in Hudson IT, I am disappointed with our performance in driving new starts during the fourth quarter,” said CEO Kevin Horner. “While our consultant-base decline did reflect a high level of assignment ends, we had ample opportunities on the starts side to mitigate this negative impact. As we enter 2016, our primary operational objective is to address these start issues and return the company to a consistent growth trajectory with respect to our billable consultant base.”
Full-year revenue
| (US$ thousands) | Q4 2015 | Q4 2014 | % change |
| Revenue | $32,540 | $28,549 | 14.0% |
| Gross profit | $6,718 | $5,228 | 28.5% |
| Gross margin | 20.6% | 18.3% | |
| Net income | $1,289 | $782 | 64.8% |
Share price and market cap
Shares in Mastech rose 16.14% in late morning trading today to $7.86. The company had a market cap of approximately $34.20 million, according to Yahoo!