Mastech Holdings reports Q1 adjusted EPS 6c vs. 12c last year

Reports Q1 revenue $46.8M vs. $55.1M last year. Vivek Gupta, the company’s President and Chief Executive Officer stated: “The first quarter of 2024 showed encouraging signs of market improvements in both of our business segments. This quarter was the first quarter since the third quarter of 2022 where both of our segments’ clients shifted their spending patterns in a positive direction. Additionally, gross margins improved during the quarter by 140-basis points when compared to a year ago, and we successfully reduced S,G&A expenses by 3% from the corresponding quarter of 2023. While there is still more work to be done, we have a more positive outlook on market conditions and our growth opportunities for 2024.”