10-Q Filing

MASTECH DIGITAL, INC. CIK: 1437226 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-348840`
Period End Date	20120630
Filing Date	20120810
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	mhh-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 81 Income Statement 56 Cash Flow Statement 54 Comprehensive Income 13

Balance Sheet 81 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for uncollectible accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$305.00K	USD	Point-in-time
Accounts receivable, allowance for uncollectible accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$305.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockNoParValue`	-	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`	$5.75M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.69M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.33M	USD	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $305 In 2012 and in 2011	`AccountsReceivableNetCurrent`	$10.43M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $305 In 2012 and in 2011	`AccountsReceivableNetCurrent`	$12.12M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Unbilled receivables	`UnbilledContractsReceivable`	$1.50M	USD	Point-in-time
Unbilled receivables	`UnbilledContractsReceivable`	$1.94M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssets`	$1.05M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssets`	$1.04M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$88.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.74M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.71M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$177.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	572,772.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$16.87M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.90M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	142,886.00	shares	Point-in-time
Equipment	`MachineryAndEquipmentGross`	$1.75M	USD	Point-in-time
Equipment	`MachineryAndEquipmentGross`	$1.68M	USD	Point-in-time
Enterprise software	`FiniteLivedComputerSoftwareGross`	$717.00K	USD	Point-in-time
Enterprise software	`FiniteLivedComputerSoftwareGross`	$675.00K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$555.00K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$555.00K	USD	Point-in-time
Total equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentGross`	$2.91M	USD	Point-in-time
Total equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentGross`	$3.02M	USD	Point-in-time
Less - accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.64M	USD	Point-in-time
Less - accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.73M	USD	Point-in-time
Net equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentNet`	$273.00K	USD	Point-in-time
Net equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentNet`	$295.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$53.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$38.00K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinancingCostNetOfAmortization`	$74.00K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinancingCostNetOfAmortization`	$60.00K	USD	Point-in-time
Goodwill	`Goodwill`	$405.00K	USD	Point-in-time
Goodwill	`Goodwill`	$405.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$177.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$80.00K	USD	Point-in-time
Total assets	`Assets`	$17.85M	USD	Point-in-time
Total assets	`Assets`	$19.79M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.31M	USD	Point-in-time
Accrued payroll and related costs	`EmployeeRelatedLiabilitiesCurrent`	$4.00M	USD	Point-in-time
Accrued payroll and related costs	`EmployeeRelatedLiabilitiesCurrent`	$4.00M	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$324.00K	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$286.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$106.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$58.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.74M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.34M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.34M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.74M	USD	Point-in-time
Commitments and contingent liabilities (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingent liabilities (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred Stock, no par value; 20,000,000 shares authorized; none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, no par value; 20,000,000 shares authorized; none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $.01; 100,000,000 shares authorized and 3742621 shares issued as of June 30, 2012 and 3,711,988 shares issued as of December 31, 2011	`CommonStockValue`	$37.00K	USD	Point-in-time
Common stock, par value $.01; 100,000,000 shares authorized and 3742621 shares issued as of June 30, 2012 and 3,711,988 shares issued as of December 31, 2011	`CommonStockValue`	$37.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.11M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.25M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.46M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$4.27M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.00K	USD	Point-in-time
Treasury stock, at cost; 572,772 shares as of June 30, 2012 and 142,886 as of December 31, 2011	`TreasuryStockValue`	$3.06M	USD	Point-in-time
Treasury stock, at cost; 572,772 shares as of June 30, 2012 and 142,886 as of December 31, 2011	`TreasuryStockValue`	$566.00K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$11.51M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$13.05M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$17.85M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$19.79M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$49.77M	USD	2 Qtrs
Revenues	`Revenues`	$42.02M	USD	2 Qtrs
Revenues	`Revenues`	$25.31M	USD	1 Quarter
Revenues	`Revenues`	$22.11M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$40.48M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$20.48M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$33.73M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$17.68M	USD	1 Quarter
Gross profit	`GrossProfit`	$8.28M	USD	2 Qtrs
Gross profit	`GrossProfit`	$9.29M	USD	2 Qtrs
Gross profit	`GrossProfit`	$4.83M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.44M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.92M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.06M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.59M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.82M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.37M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$771.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$687.00K	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$621.00K	USD	1 Quarter
Interest income (expense),net	`InterestIncomeExpenseNet`	$-12.00K	USD	2 Qtrs
Interest income (expense),net	`InterestIncomeExpenseNet`	$-33.00K	USD	2 Qtrs
Interest income (expense),net	`InterestIncomeExpenseNet`	$-6.00K	USD	1 Quarter
Interest income (expense),net	`InterestIncomeExpenseNet`	$-17.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-23.00K	USD	2 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-1.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-16.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-2.00K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$738.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.31M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$673.00K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$614.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$254.00K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$501.00K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$232.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$280.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$458.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$810.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$382.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$419.00K	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.24	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.14	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.11	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.24	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.11	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.67M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.68M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.16M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.32M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.75M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.27M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.78M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.43M	shares	2 Qtrs

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$458.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$810.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$382.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$419.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$101.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$90.00K	USD	2 Qtrs
Interest amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$14.00K	USD	2 Qtrs
Bad debt (credit) expense	`ProvisionForOtherLosses`	$-50.00K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$77.00K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$126.00K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$39.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$62.00K	USD	1 Quarter
Deferred income taxes, net	`DeferredIncomeTaxExpenseBenefit`	$-8.00K	USD	2 Qtrs
Deferred income taxes, net	`DeferredIncomeTaxExpenseBenefit`	$-48.00K	USD	1 Quarter
Deferred income taxes, net	`DeferredIncomeTaxExpenseBenefit`	$-76.00K	USD	2 Qtrs
Deferred income taxes, net	`DeferredIncomeTaxExpenseBenefit`	$69.00K	USD	1 Quarter
Loss in unconsolidated affiliate	`GainLossOnSaleOfOtherInvestments`	$-2.00K	USD	2 Qtrs
Gain on derivative contract	`DerivativeGainOnDerivative`	$1.00K	USD	2 Qtrs
Accounts receivable and unbilled receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$1.93M	USD	2 Qtrs
Accounts receivable and unbilled receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$2.13M	USD	2 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-831.00K	USD	2 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-6.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-314.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-493.00K	USD	2 Qtrs
Accrued payroll and related costs	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$304.00K	USD	2 Qtrs
Accrued payroll and related costs	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-2.00K	USD	2 Qtrs
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-38.00K	USD	2 Qtrs
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-6.00K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-50.00K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-48.00K	USD	2 Qtrs
Net cash flows (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-834.00K	USD	2 Qtrs
Net cash flows (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.53M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$108.00K	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$72.00K	USD	2 Qtrs
Net cash flows (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-72.00K	USD	2 Qtrs
Net cash flows (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-108.00K	USD	2 Qtrs
Purchase of treasury stock	`PaymentsForRepurchaseOfEquity`	$130.00K	USD	2 Qtrs
Purchase of treasury stock	`PaymentsForRepurchaseOfEquity`	$2.49M	USD	2 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$43.00K	USD	2 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$22.00K	USD	2 Qtrs
Increase in excess tax benefits related to stock options, net	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$20.00K	USD	2 Qtrs
Increase in excess tax benefits related to stock options, net	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$13.00K	USD	2 Qtrs
Net cash flows (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.43M	USD	2 Qtrs
Net cash flows (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-95.00K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.07M	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.00M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.33M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.75M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.69M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.33M	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`	$5.75M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.69M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.33M	USD	Point-in-time

Comprehensive Income 13 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$458.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$810.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$382.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$419.00K	USD	2 Qtrs
Net of tax (expense)	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$2.00K	USD	2 Qtrs
Net unrealized gain on cash flow hedges, net of tax (expense) of $2	`AccumulatedOtherComprehensiveIncomeLossCumulativeChangeInNetGainLossFromCashFlowHedgesEffectNetOfTax`	$2.00K	USD	2 Qtrs
Net unrealized gain on cash flow hedges, net of tax (expense) of $2	`AccumulatedOtherComprehensiveIncomeLossCumulativeChangeInNetGainLossFromCashFlowHedgesEffectNetOfTax`	$2.00K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$2.00K	USD	2 Qtrs
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$2.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$419.00K	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$460.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$812.00K	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$382.00K	USD	1 Quarter

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