Mastech Holdings News Release (01/29/13)

Mastech Holdings Inc. announced today its financial results for the fourth quarter and full year ended Dec. 31, 2012. Consolidated net income for the fourth quarter 2012 totaled $728,000, compared with $253,000 during the same period in 2011. Consolidated net income for 2012 totaled $2.1 million, compared to $1.1 million one-year earlier.

Demand for Mastech’s information technology staffing services remained solid during the fourth quarter when considering the normal year-end industry trends. Market conditions in the health care staffing business remained largely positive and the company was able to achieve sequential revenue growth for the 10th consecutive quarter. Overall gross margins in the fourth quarter of 2012 were 19.0%, which were in-line with the previous quarter’s performance and slightly below the 19.3% gross margins reported a year earlier.