10-Q Filing

MASTECH DIGITAL, INC. CIK: 1437226 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0001193125-11-291905`
Period End Date	20110930
Filing Date	20111102
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	mhh-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 56 Cash Flow Statement 50

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for uncollectible accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$505.00K	USD	Point-in-time
Accounts receivable, allowance for uncollectible accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$572.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.11M	USD	Point-in-time
Preferred stock, par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.61M	USD	Point-in-time
Preferred stock, par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.93M	USD	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $505 in 2011 and $572 in 2010, respectively	`AccountsReceivableNetCurrent`	$8.06M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $505 in 2011 and $572 in 2010, respectively	`AccountsReceivableNetCurrent`	$8.54M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Unbilled receivables	`UnbilledContractsReceivable`	$1.66M	USD	Point-in-time
Unbilled receivables	`UnbilledContractsReceivable`	$3.83M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssets`	$1.40M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssets`	$1.23M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$93.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$177.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$19.31M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.69M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$17.63M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.71M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	77,070.00	shares	Point-in-time
Equipment	`MachineryAndEquipmentGross`	$1.57M	USD	Point-in-time
Equipment	`MachineryAndEquipmentGross`	$1.47M	USD	Point-in-time
Enterprise software	`FiniteLivedComputerSoftwareGross`	$675.00K	USD	Point-in-time
Enterprise software	`FiniteLivedComputerSoftwareGross`	$675.00K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$544.00K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$544.00K	USD	Point-in-time
Total equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentGross`	$2.79M	USD	Point-in-time
Total equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentGross`	$2.68M	USD	Point-in-time
Less - accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.50M	USD	Point-in-time
Less - accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.60M	USD	Point-in-time
Net equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentNet`	$185.00K	USD	Point-in-time
Net equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentNet`	$185.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$93.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$63.00K	USD	Point-in-time
Investment in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$5.00K	USD	Point-in-time
Deferred financing costs, net of amortization	`DeferredFinancingCostNetOfAmortization`	$81.00K	USD	Point-in-time
Goodwill	`Goodwill`	$405.00K	USD	Point-in-time
Goodwill	`Goodwill`	$405.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$82.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$87.00K	USD	Point-in-time
Total assets	`Assets`	$18.40M	USD	Point-in-time
Total assets	`Assets`	$20.14M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.01M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.69M	USD	Point-in-time
Accrued payroll and related costs	`EmployeeRelatedLiabilitiesCurrent`	$3.02M	USD	Point-in-time
Accrued payroll and related costs	`EmployeeRelatedLiabilitiesCurrent`	$4.75M	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$189.00K	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$258.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$103.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$141.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.05M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.12M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$7.12M	USD	Point-in-time
Commitments and contingent liabilities (Note 4)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingent liabilities (Note 4)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred Stock, no par value; 20,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, no par value; 20,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $.01; 100,000,000 shares authorized and 3,710,113 shares issued as of September 30, 2011 and 3,691,363 shares issued as of December 31, 2010	`CommonStockValue`	$37.00K	USD	Point-in-time
Common stock, par value $.01; 100,000,000 shares authorized and 3,710,113 shares issued as of September 30, 2011 and 3,691,363 shares issued as of December 31, 2010	`CommonStockValue`	$37.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.09M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.96M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.21M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.35M	USD	Point-in-time
Treasury stock, at cost; 77,070 shares as of September 30, 2011	`TreasuryStockValue`	$319.00K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$13.01M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$12.35M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$20.14M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$18.40M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$18.87M	USD	1 Quarter
Revenues	`Revenues`	$51.51M	USD	3 Qtrs
Revenues	`Revenues`	$65.50M	USD	3 Qtrs
Revenues	`Revenues`	$23.49M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$41.43M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$52.57M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$15.23M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$18.84M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.64M	USD	1 Quarter
Gross profit	`GrossProfit`	$12.93M	USD	3 Qtrs
Gross profit	`GrossProfit`	$10.08M	USD	3 Qtrs
Gross profit	`GrossProfit`	$4.65M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.31M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$11.52M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.92M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$9.45M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$329.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.42M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$631.00K	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$728.00K	USD	1 Quarter
Interest income (expense)	`InterestIncomeExpenseNet`	$-9.00K	USD	1 Quarter
Interest income (expense)	`InterestIncomeExpenseNet`	$-5.00K	USD	1 Quarter
Interest income (expense)	`InterestIncomeExpenseNet`	$-16.00K	USD	3 Qtrs
Interest income (expense)	`InterestIncomeExpenseNet`	$-21.00K	USD	3 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-2.00K	USD	3 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$1.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-9.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-11.00K	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$613.00K	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.38M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$325.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$710.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$138.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$523.00K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$254.00K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$269.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$860.00K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$187.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$441.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$359.00K	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.10	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.12	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.23	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.10	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.12	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.23	USD	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.66M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.69M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.67M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.67M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.79M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.75M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.74M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.75M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$860.00K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$187.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$441.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$359.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$134.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$120.00K	USD	3 Qtrs
Bad debt (credit) expense	`ProvisionForOtherLosses`	$-50.00K	USD	3 Qtrs
Bad debt (credit) expense	`ProvisionForOtherLosses`	$-50.00K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$223.00K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$182.00K	USD	3 Qtrs
Deferred income taxes, net	`DeferredIncomeTaxExpenseBenefit`	$124.00K	USD	3 Qtrs
Deferred income taxes, net	`DeferredIncomeTaxExpenseBenefit`	$79.00K	USD	3 Qtrs
Loss in unconsolidated affiliate	`GainLossOnSaleOfOtherInvestments`	$-5.00K	USD	3 Qtrs
Accounts receivable and unbilled receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$2.60M	USD	3 Qtrs
Accounts receivable and unbilled receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$1.60M	USD	3 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-162.00K	USD	3 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$524.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-682.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$58.00K	USD	3 Qtrs
Accrued payroll and related costs	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$1.72M	USD	3 Qtrs
Accrued payroll and related costs	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$1.19M	USD	3 Qtrs
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-108.00K	USD	3 Qtrs
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$69.00K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$78.00K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-38.00K	USD	3 Qtrs
Net cash flows (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-158.00K	USD	3 Qtrs
Net cash flows (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-132.00K	USD	3 Qtrs
Acquisition of Curastat, Inc., (net of cash acquired and issuance of contingent earn-out debt)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$1.15M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$102.00K	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$70.00K	USD	3 Qtrs
Net cash flows (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-102.00K	USD	3 Qtrs
Net cash flows (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.22M	USD	3 Qtrs
Payment of deferred financing costs	`PaymentOfDeferredFinancingCosts`	$83.00K	USD	3 Qtrs
Purchase of treasury stock and other equity securities	`PaymentsForRepurchaseOfEquity`	$369.00K	USD	3 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$22.00K	USD	3 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$178.00K	USD	3 Qtrs
(Reduction) in excess tax benefits related to stock options, net	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-30.00K	USD	3 Qtrs
(Reduction) in excess tax benefits related to stock options, net	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-14.00K	USD	3 Qtrs
Net cash flows provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-460.00K	USD	3 Qtrs
Net cash flows provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$164.00K	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-720.00K	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.18M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.11M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.33M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.61M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.93M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.11M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.33M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.61M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.93M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.