Last10K.com

Mastech Digital, Inc. (MHH) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

Mastech Digital, Inc.

CIK: 1437226 Ticker: MHH

Exhibit 99.1

 

LOGO

FOR IMMEDIATE RELEASE:

Mastech Digital, Inc. Reports Fourth Quarter and Full Year 2016 Results – 2016 revenues grow by 7% year over year

PITTSBURGH, PA – February 8, 2017 - Mastech Digital, Inc. (NYSE MKT: MHH), a national provider of Information Technology staffing and Digital Transformation services, announced today its financial results for the fourth quarter and full year ended December 31, 2016.

Fourth Quarter 2016 Highlights:

 

    Revenues totaled $32.4 million, in-line with revenues of $32.5 million in the 2015 fourth quarter;

 

    Billable consultants at year-end 2016 totaled 881 or approximately 4% higher than at December 31, 2015;

 

    GAAP diluted earnings per share were $0.14 versus $0.29 in the 2015 fourth quarter;

 

    Non-GAAP diluted earnings per share were $0.19 versus $0.31 in the 2015 fourth quarter.

Fourth Quarter Results:

Revenues for the fourth quarter of 2016 totaled $32.4 million compared to $32.5 million during the corresponding quarter last year. Gross profit in the fourth quarter of 2016 was $6.4 million, compared to $6.7 million in the fourth quarter of 2015. GAAP net income for the fourth quarter of 2016 totaled $640,000 or $0.14 per diluted share, compared to $1.3 million or $0.29 per diluted share during the same period last year. Non-GAAP net income for the fourth quarter of 2016 was $841,000 or $0.19 per diluted share, compared to $1.4 million or $0.31 per diluted share in the fourth quarter of 2015.

Demand for the Company’s staffing services was in-line with the third quarter of 2016 and largely offset a higher level of assignment ends historically expected during the fourth quarter. This resulted in the Company’s billable consultant-base being essentially unchanged from the previous quarter.

Commenting on the Company’s 2016 fourth quarter results, Vivek Gupta, Mastech Digital’s Chief Executive Officer stated, “While our fourth quarter operating results were challenged on a year-over-year basis, due in part to several favorable cost adjustments in the 2015 quarter and increased investment in our business, I was pleased with our consultants-on-billing performance and the continued progress with respect to our digital transformation efforts. With investments made in 2016 to enhance both our sales and recruitment capabilities, I’m confident in our abilities to accelerate growth in 2017.”

Full Year Results:

Revenues for the full year 2016 totaled $132.0 million compared to $123.5 million in 2015. Our top-line growth largely reflected our June 15, 2015 acquisition of Hudson IT. Gross profit for 2016 totaled $26.3 million or 19.9% of total revenues, compared to $23.8 million or 19.3% of total revenues in 2015. GAAP net income for 2016 totaled $2.5 million or $0.56 per diluted share, compared to $2.8 million or $0.62 per diluted share in 2015. Non-GAAP net income for 2016 totaled $3.8 million or $0.84 per diluted share, compared to $3.8 million or $0.85 per diluted share one year earlier.


The following information was filed by Mastech Digital, Inc. (MHH) on Wednesday, February 8, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Mastech Digital, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Mastech Digital, Inc..

Continue

Assess how Mastech Digital, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Mastech Digital, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2017 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Shareholders' Equity
Business Combinations
Business Combinations (tables)
Business Combinations - Additional Information (detail)
Business Combinations - Schedule Of Valuation Of Net Assets Acquired (detail)
Business Combinations - Summary Of Source Of Funds (detail)
Business Combinations - Summary Of Unaudited Pro Forma Results Of Hudson It (detail)
Cash And Cash Equivalents
Cash And Cash Equivalents - Additional Information (detail)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Commitments And Contingencies - Schedule Of Minimum Future Rental Payments (detail)
Credit Facility
Credit Facility (tables)
Credit Facility - Additional Information (detail)
Credit Facility - Schedule Of Annual Aggregate Outstanding Debt (detail)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (tables)
Derivative Instruments And Hedging Activities - Additional Information (detail)
Derivative Instruments And Hedging Activities - Effect Of Derivative Instruments On Consolidated Statements Of Operations And Comprehensive Income (detail)
Derivative Instruments And Hedging Activities - Information On Location And Amounts Of Derivative Fair Values In Consolidated Balance Sheets (detail)
Earnings Per Share
Earnings Per Share (tables)
Earnings Per Share - Additional Information (detail)
Earnings Per Share - Computation Of Basic Eps (detail)
Earnings Per Share - Computation Of Diluted Eps (detail)
Earnings Per Share - Schedule Of Denominators Of Basic And Diluted Eps Computations (detail)
Employee Benefit Plan
Employee Benefit Plan - Additional Information (detail)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements - Summary Of Financial Assets And (liabilities) At Fair Value Measured On Recurring Basis (detail)
Goodwill And Other Intangible Assets - Additional Information (detail)
Goodwill And Other Intangible Assets - Components Of Identifiable Intangible Assets (detail)
Goodwill And Other Intangible Assets - Reconciliation Of Goodwill (detail)
Goodwill And Other Intangible Assets - Schedule Of Estimated Amortization Expense (detail)
Goodwill And Other Intangible Assets, Net
Goodwill And Other Intangible Assets, Net (tables)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Income Taxes - Components Of Deferred Tax Assets And Liabilities (detail)
Income Taxes - Components Of Income Before Income Taxes (detail)
Income Taxes - Provision For Income Taxes (detail)
Income Taxes - Reconciliation Of Income Taxes (detail)
Income Taxes - Unrecognized Tax Benefits Related To Uncertain Tax Positions (detail)
Quarterly Financial Information
Quarterly Financial Information (tables)
Quarterly Financial Information From Continuing Operations - Summary Of Quarterly Financial Information From Continuing Operations (detail)
Revenue Concentration
Revenue Concentration - Additional Information (detail)
Schedule Ii - Valuation And Qualifying Accounts (detail)
Schedule Ii-valuation And Qualifying Accounts
Severance Charges
Severance Charges - Additional Information (detail)
Shareholders' Equity
Shareholders' Equity - Additional Information (detail)
Stock-based Compensation
Stock-based Compensation (tables)
Stock-based Compensation - Additional Information (detail)
Stock-based Compensation - Summary Of Assumptions With Respect To The Black-scholes Option Pricing Model (detail)
Stock-based Compensation - Summary Of Company's Stock Option Activity (detail)
Stock-based Compensation - Summary Of Information Regarding The Company's Outstanding And Exercisable Stock Options (detail)
Stock-based Compensation - Summary Of Mastech Performance Share Unit Activity (detail)
Stock-based Compensation - Summary Of Mastech's Restricted Stock Unit Activity (detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Additional Information (detail)
Summary Of Significant Accounting Policies - Estimated Useful Lives Of Depreciable Assets (detail)
Ticker: MHH
CIK: 1437226
Form Type: 10-K Annual Report
Accession Number: 0001193125-17-094899
Submitted to the SEC: Fri Mar 24 2017 11:03:42 AM EST
Accepted by the SEC: Fri Mar 24 2017
Period: Saturday, December 31, 2016
Industry: Management Consulting Services

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/mhh/0001193125-17-094899.htm