Mastech Digital, Inc. (MHH) 10-K Annual Report March 2018

PITTSBURGH, PA – February 7, 2018 - Mastech Digital, Inc. (NYSE American: MHH), a leading provider of Digital Transformation IT Services, announced today its financial results for the fourth quarter and full year ended December 31, 2017.

Fourth Quarter 2017 Highlights:

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Revenues increased 25% to a total of $40.5 million, compared to revenues of $32.4 million in the 2016 fourth quarter;

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The Company’s data and analytics services segment, acquired on July 13, 2017, experienced 26% growth over the third quarter 2017’s reported revenues and contributed $5.1 million of revenues during the quarter;

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The number of billable consultants at year-end 2017 grew to 983 in the Company’s IT staffing services segment - 12% higher than year-end 2016;

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GAAP diluted earnings per share were $0.16 versus $0.14 in the 2016 fourth quarter and included a $0.07 loss related to the effect of recent tax reforms in the U.S.;

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Non-GAAP diluted earnings per share were $0.32 versus $0.19 in the 2016 fourth quarter.

Fourth Quarter Results:

Revenues for the fourth quarter of 2017 totaled $40.5 million compared to $32.4 million during the corresponding quarter last year. Gross profit in the fourth quarter of 2017 was $9.5 million, compared to $6.4 million in the fourth quarter of 2016. GAAP net income for the fourth quarter of 2017 totaled $865,000 or $0.16 per diluted share and included $372,000 of income tax expense related to U.S. tax reform, compared to $640,000 or $0.14 per diluted share during the same period last year. Non-GAAP net income for the fourth quarter of 2017 was $1.7 million or $0.32 per diluted share, compared to $841,000 or $0.19 per diluted share in the fourth quarter of 2016.

Activity levels at the Company’s data and analytics services segment, acquired in July 2017, were up from the previous quarter, as revenues for the fourth quarter 2017 improved significantly over revenues reported in the third quarter of 2017. Demand for the Company’s IT staffing services remained robust during this quarter and largely offset the expected higher level of assignment ends that the Company experiences during the fourth quarter as compared to other quarterly periods.

The following information was filed by Mastech Digital, Inc. (MHH) on Wednesday, February 7, 2018 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.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Mastech Digital, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 10.12: Material Contract

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: MHH
CIK: 1437226
Form Type: 10-K Annual Report
Accession Number: 0001193125-18-093873
Submitted to the SEC: Fri Mar 23 2018 1:47:10 PM EST
Accepted by the SEC: Fri Mar 23 2018
Period: Sunday, December 31, 2017
Industry: Management Consulting Services

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Mastech Digital, Inc. (MHH) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

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