Mastech Holdings News Release (07/25/12)
Mastech Holdings Inc. has announced its financial results for the second quarter ended June 30, 2012. Revenues for the second quarter were $25.3 million, which represented a 14% increase over the corresponding quarter last year and approximately a 4% improvement over first-quarter 2012 results. Gross profit in the second quarter of 2012 totaled $4.8 million compared with $4.4 million in the second quarter of 2011. Consolidated net income for the second quarter of 2012 totaled $458,000, or $0.14 per diluted share, compared with $382,000, or $0.10 per diluted share, in the same period last year.
Demand for the company’s staffing services remained solid during the second quarter as the company grew its information technology billable consultant-base by 5% and achieved sequential revenue growth for the eighth consecutive quarter in its health care staffing business. Overall gross margins in the second quarter showed a marked improvement over the previous quarter, but continued to be impacted negatively by emerging supply-side pricing pressures in the marketplace.
Exclusive Guide to Factoring for Staffing Companies
Whether your firm needs working capital to hire new talent, maximize a marketing opportunity, or extend client payment terms, factoring allows staffing companies to convert unpaid invoices into cash today. Download now to get answers to the top 10 questions related to accessing working capital via invoice financing.