Mastech Digital, Inc. (MHH) 10-K Annual Report Fri Mar 29 2019

PITTSBURGH, PA – February 12, 2019 - 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, 2018.

Fourth Quarter 2018 Highlights:

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Revenues increased 10% to $44.6 million, compared to revenues of $40.5 million in the 2017 fourth quarter;

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The Company’s data and analytics services segment, acquired on July 13, 2017, reported revenues of $5.4 million, compared to revenues of $5.1 million in the corresponding quarter of 2017;

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The IT staffing segment achieved organic revenue growth of 11% during the fourth quarter of 2018, compared to the fourth quarter of 2017;

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The number of billable consultants at year-end 2018 grew to 1,100 in the Company’s IT staffing services segment - 12% higher than year-end 2017;

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GAAP diluted earnings per share were $0.08 versus $0.08 in the 2017 fourth quarter;

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Non-GAAP diluted earnings per share were $0.16 versus $0.16 in the 2017 fourth quarter.

Fourth Quarter Results:

Revenues for the fourth quarter of 2018 totaled $44.6 million, compared to $40.5 million during the corresponding quarter last year. Gross profit in the fourth quarter of 2018 was $10.7 million, compared to $9.5 million in the same quarter of 2017. GAAP net income for the fourth quarter of 2018 totaled $874,000 or $0.08 per diluted share, compared to $865,000 or $0.08 per diluted share during the same period last year. Non-GAAP net income for the fourth quarter of 2018 was $1.8 million or $0.16 per diluted share, compared to $1.7 million or $0.16 per diluted share in the fourth quarter of 2017.

Activity levels at the Company’s data and analytics services segment were up from the previous quarter, and revenues for the fourth quarter of 2018 improved by $245,000 over revenues reported in the fourth quarter of 2017. Demand for the Company’s IT staffing services remained strong during the quarter and more than offset the expected higher level of seasonal assignment ends that the Company experiences during the fourth quarter.

The following information was filed by Mastech Digital, Inc. (MHH) on Tuesday, February 12, 2019 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 10.15: Material Contract

Exhibit 10.16: 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: 0001193125-19-091669
Submitted to the SEC: Fri Mar 29 2019 8:01:53 AM EST
Accepted by the SEC: Fri Mar 29 2019
Period: Monday, December 31, 2018
Industry: Management Consulting Services

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Mastech Digital, Inc. (MHH) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

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