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Mastech Digital reports revenue up 4% in Q1

April 26, 2017

IT staffing provider Mastech Digital Inc. (NYSE MKT: MHH) reported revenue rose 4.4% in the first quarter to $33.1 million. The Pittsburgh-based firm reported demand for its staffing services increased during the first quarter from the previous quarter.

(US$ thousands) Q1 2017 Q1 2016  % change
Revenue $33,100 $31,714 4.4%
Gross profit $6,209 $6,113 1.6%
Gross margin 18.8% 19.3%  
Net income $201 $11 NM

Quote

“It was satisfying to see higher levels of activity during the quarter and our ability to grow revenues and consultants-on-billing both year-over-year and sequentially,” said CEO Vivek Gupta. “During the quarter, we continued to invest in our sales and recruitment organizations, which positions us to take full advantage of growth opportunities in the subsequent quarters of 2017.”

Share price and market cap

Shares in Mastech fell 6.3% in late morning trading today to $6.99. The company had a market cap of approximately $31.45 million, according to Yahoo.