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Mastech Holdings First Quarter Trading

Mastech Holdings First Quarter Trading

IT and specialized health care staffing company Mastech Holdings reported a 27 percent increase in revenue for the first quarter however, the companys profit slipped 41 percent year-over-year.

For the quarter ended March 31, the company had net income of $37,000, or .01 cents per share, compared with $63,000, or .02 cents per share a year ago. Total revenue was $19.9 million, up from $15.7 million a year ago. The company increased its billable consultant headcount by 3.5 percent in the first quarter.

During the quarter we established IT branch operations in Chicago, increased our offshore recruitment staff to support higher activity flow and new client wins, and adjusted the alignment of our recruitment reporting structure to improve efficiency and accountability, said CEO Thomas Moran in a written statement. Im confident that these first quarter investments will benefit the balance of 2011 as we capitalize more effectively on market opportunities.

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