Mastech Corp, Pittsburgh-based technology services company, has reported second-quarter net income up 114% at $12.5m on revenue up 30.8% at $124.5m. Earnings per share for the period jumped 108% to $0.25, beating the First Call consensus by a penny. Results for the year-ago quarter include merger-related charges of $3.2m.
Operating margin for the quarter improved to 14.8% from 13.6% a year ago, while the net margin rose one point to 10%, excluding year-ago charges. Gross margins were 33.3%, up slightly from 33%, as the company cut expenses in the general and administrative area.
For the six-month period, net income rose 76% to $22.6m on revenue up 37.4% at $245.9m, while earnings per share rose from $0.25 to $0.44. Six-month results include a $1.7m merger-related charge. Year-ago results have been restated to reflect the pooling-of-interests acquisition of The Amber Group.
