Mastech Digital Inc. (NYSEAMERICAN: MHH), a Pittsburgh-based provider of IT staffing as well as data and analytics services, reported fourth-quarter revenue fell 3.3% year over year. The company reported revenue growth in data and analytics services businesses with its acquisition of AmberLeaf Partners Inc. while IT staffing revenue declined. However, Mastech cited increased demand for staffing in Q4 2020.
“With Covid-19 vaccination programs rolling out globally, we are seeing early signs of an economic expansion in a number of markets that we serve, which gives me confidence that we are well positioned for 2021 and beyond,” President and CEO Vivek Gupta said.
| (US$ thousands) | Q4 2020 | Q4 2019 | % change |
| Revenue | $48,710 | $50,360 | -3.3% |
| Gross profit | $13,074 | $12,763 | 2.4% |
| Gross margin | 26.8% | 25.3% | |
| Net income | $2,025 | $2,274 | -10.9% |
Revenue by segment
| (US$ thousands) | Q4 2020 | Q4 2019 | % change |
| Data and analytics services | $8,918 | $7,161 | 24.5% |
| IT staffing services | $39,792 | $43,199 | -7.9% |
Full-year results
| (US$ thousands) | FY 2020 | FY 2019 | % change |
| Revenue | $194,101 | $193,574 | 0.3% |
| Gross profit | $51,539 | $47,981 | 7.4% |
| Gross margin | 26.6% | 24.8% | |
| Net income | $9,861 | $11,145 | -11.5% |
Share price and market cap
Shares in Mastech were down 8.33% to $17.74 as of 12:28 p.m. Eastern time today; shares were 144.68% above their 52-week low of $7.25 set on March 19, 2020. The company had a market cap of $220.2 million.