10-Q Filing

MASTECH DIGITAL, INC. CIK: 1437226 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-200522`
Period End Date	20130331
Filing Date	20130506
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	mhh-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 86 Income Statement 28 Cash Flow Statement 48 Comprehensive Income 7

Balance Sheet 86 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for uncollectible accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$438.00K	USD	Point-in-time
Accounts receivable, allowance for uncollectible accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$438.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.75M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.75M	USD	Point-in-time
Preferred stock, par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$659.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$630.00K	USD	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $438 in 2013 and in 2012	`AccountsReceivableNetCurrent`	$9.76M	USD	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $438 in 2013 and in 2012	`AccountsReceivableNetCurrent`	$10.86M	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
Unbilled receivables	`UnbilledContractsReceivable`	$2.93M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Unbilled receivables	`UnbilledContractsReceivable`	$5.93M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssets`	$580.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssets`	$788.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$197.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$153.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.93M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$15.39M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.10M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.93M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	584,172.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	584,172.00	shares	Point-in-time
Equipment	`MachineryAndEquipmentGross`	$1.79M	USD	Point-in-time
Equipment	`MachineryAndEquipmentGross`	$1.82M	USD	Point-in-time
Enterprise software	`FiniteLivedComputerSoftwareGross`	$720.00K	USD	Point-in-time
Enterprise software	`FiniteLivedComputerSoftwareGross`	$720.00K	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`	$3.06M	USD	Point-in-time
Total equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentGross`	$3.09M	USD	Point-in-time
Less - accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.81M	USD	Point-in-time
Less - accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.86M	USD	Point-in-time
Net equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentNet`	$249.00K	USD	Point-in-time
Net equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentNet`	$232.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$21.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$24.00K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinancingCostNetOfAmortization`	$46.00K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinancingCostNetOfAmortization`	$39.00K	USD	Point-in-time
Non-current deposits	`DepositsAssetsNoncurrent`	$214.00K	USD	Point-in-time
Non-current deposits	`DepositsAssetsNoncurrent`	$216.00K	USD	Point-in-time
Goodwill	`Goodwill`	$405.00K	USD	Point-in-time
Goodwill	`Goodwill`	$405.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$124.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$91.00K	USD	Point-in-time
Total assets	`Assets`	$18.14M	USD	Point-in-time
Total assets	`Assets`	$16.42M	USD	Point-in-time
Short-term borrowings	`LongTermDebtCurrent`	$2.67M	USD	Point-in-time
Short-term borrowings	`LongTermDebtCurrent`	$2.61M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.44M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.98M	USD	Point-in-time
Accrued payroll and related costs	`EmployeeRelatedLiabilitiesCurrent`	$4.42M	USD	Point-in-time
Accrued payroll and related costs	`EmployeeRelatedLiabilitiesCurrent`	$5.02M	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$382.00K	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$342.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$57.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$173.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.57M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.57M	USD	Point-in-time
Total liabilities	`Liabilities`	$9.53M	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 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 3,927,467 shares issued as of March 31, 2013 and 3,925,395 shares issued as of December 31, 2012	`CommonStockValue`	$39.00K	USD	Point-in-time
Common Stock, par value $.01; 100,000,000 shares authorized and 3,927,467 shares issued as of March 31, 2013 and 3,925,395 shares issued as of December 31, 2012	`CommonStockValue`	$39.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$11.04M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$11.13M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$-1.08M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$-506.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$17.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$8.00K	USD	Point-in-time
Treasury stock, at cost; 584,172 shares as of March 31, 2013 and December 31, 2012	`TreasuryStockValue`	$3.12M	USD	Point-in-time
Treasury stock, at cost; 584,172 shares as of March 31, 2013 and December 31, 2012	`TreasuryStockValue`	$3.12M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$7.57M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$6.89M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$18.14M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$16.42M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$24.45M	USD	1 Quarter
Revenues	`Revenues`	$27.00M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$19.99M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$22.12M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.46M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.88M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.86M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.95M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$596.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$937.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-16.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-25.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-7.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$12.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$924.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$573.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$349.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$221.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$352.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$575.00K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.17	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.34M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.48M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.58M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.43M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$352.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$575.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$47.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$49.00K	USD	1 Quarter
Interest amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$7.00K	USD	1 Quarter
Interest amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$7.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$38.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$95.00K	USD	1 Quarter
Deferred income taxes, net	`DeferredIncomeTaxExpenseBenefit`	$-77.00K	USD	1 Quarter
Deferred income taxes, net	`DeferredIncomeTaxExpenseBenefit`	$-77.00K	USD	1 Quarter
Loss on derivative contracts	`UnrealizedGainLossOnDerivatives`	$-8.00K	USD	1 Quarter
Accounts receivable and unbilled receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$1.90M	USD	1 Quarter
Accounts receivable and unbilled receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$1.53M	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-219.00K	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-287.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-75.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$460.00K	USD	1 Quarter
Accrued payroll and related costs	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$595.00K	USD	1 Quarter
Accrued payroll and related costs	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$540.00K	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$30.00K	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-28.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-48.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-116.00K	USD	1 Quarter
Net cash flows (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-57.00K	USD	1 Quarter
Net cash flows (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-486.00K	USD	1 Quarter
(Payments for) recovery of non-current deposits	`PaymentsForDeposits`	$-37.00K	USD	1 Quarter
(Payments for) recovery of non-current deposits	`PaymentsForDeposits`	$2.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$29.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$71.00K	USD	1 Quarter
Net cash flows (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-34.00K	USD	1 Quarter
Net cash flows (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-31.00K	USD	1 Quarter
Proceeds from short-term borrowings, net	`ProceedsFromRevolvingBorrowings`	$-56.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfEquity`	$2.49M	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$9.00K	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$3.00K	USD	1 Quarter
Increase/(reduction) in excess tax benefits related to stock options, net	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-5.00K	USD	1 Quarter
Net cash flows provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$59.00K	USD	1 Quarter
Net cash flows provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.49M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-29.00K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.01M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.75M	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`	$659.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$630.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.75M	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`	$659.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$630.00K	USD	Point-in-time

Comprehensive Income 7 line items

Line Item	Tag	Value	Unit	Period
Net of tax (expense)	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$-5.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$352.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$575.00K	USD	1 Quarter
Net unrealized gain on cash flow hedges, net of tax (expense) of ($5)	`AccumulatedOtherComprehensiveIncomeLossCumulativeChangeInNetGainLossFromCashFlowHedgesEffectNetOfTax`	$9.00K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$9.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$584.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$352.00K	USD	1 Quarter

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