Mastech Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2012
January 29, 2013 at 07:30 am
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Mastech Holdings, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported revenues of $26.4 million, which represented a 11% increase over the $23.9 million in corresponding quarter last year and a 3% improvement over third quarter 2012 results. Consolidated net income totaled $728,000 or $0.22 per diluted share, compared to $253,000 or $0.07 per diluted share, during the same period last year. Results in the 2011 fourth quarter included severance charges equal to $0.05 per diluted share. The company reported income from operations of $1.2 million compared to $0.45 million and income before income tax of $1.2 million compared to $0.41 million in last year.
For the year, the company reported revenues of $101.8 million, or 14% higher than 2011 revenues of $89.4 million. Consolidated net income totaled $2.1 million or $0.64 per diluted share, compared to $1.1 million or $0.30 per diluted share one-year earlier. The company reported income from operations of $3.5 million compared to $1.9 million and income before income tax of $3.5 million compared to $1.8 million in last year.
Mastech Digital, Inc. is a provider of digital transformation information technology (IT) services. The Company offers data management and analytics solutions, digital learning, and IT staffing services with a digital first approach. The Company operates through two segments: Data and Analytics Services, and IT Staffing Services. Its Data and Analytics Services segment delivers specialized data management, data engineering, customer experience consulting, data analytics and cloud services to customers globally. Each of these services can be delivered using on-site and offshore resources. Its IT Staffing Services segment combines technical expertise with business process experience to deliver a broad range of services in digital and mainstream technologies. Its digital technology services include data management and analytics, cloud, mobility, social and automation. Its digital transformation services also include staffing and project-based services around digital learning.