10-Q Filing

MASTECH DIGITAL, INC. CIK: 1437226 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001193125-15-183261`
Period End Date	20150331
Filing Date	20150512
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	mhh-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 28 Cash Flow Statement 51 Comprehensive Income 10

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for uncollectible accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$260.00K	USD	Point-in-time
Accounts receivable, allowance for uncollectible accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$260.00K	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`	$2.85M	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$508.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$424.00K	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $260 in 2015 and 2014	`AccountsReceivableNetCurrent`	$10.68M	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $260 in 2015 and 2014	`AccountsReceivableNetCurrent`	$8.89M	USD	Point-in-time
Unbilled receivables	`UnbilledContractsReceivable`	$6.46M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Unbilled receivables	`UnbilledContractsReceivable`	$4.55M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$926.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$949.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	5.10M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$210.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	5.15M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$120.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.84M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	815,954.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$19.36M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	795,063.00	shares	Point-in-time
Equipment	`MachineryAndEquipmentGross`	$1.02M	USD	Point-in-time
Equipment	`MachineryAndEquipmentGross`	$1.07M	USD	Point-in-time
Enterprise software	`CapitalizedComputerSoftwareGross`	$629.00K	USD	Point-in-time
Enterprise software	`CapitalizedComputerSoftwareGross`	$629.00K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$320.00K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$327.00K	USD	Point-in-time
Total equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentGross`	$1.97M	USD	Point-in-time
Total equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentGross`	$2.03M	USD	Point-in-time
Less - accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.32M	USD	Point-in-time
Less - accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.27M	USD	Point-in-time
Net equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentNet`	$703.00K	USD	Point-in-time
Net equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentNet`	$701.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$177.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$188.00K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinancingCostNetOfAmortization`	$51.00K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinancingCostNetOfAmortization`	$46.00K	USD	Point-in-time
Non-current deposits	`DepositsAssetsNoncurrent`	$264.00K	USD	Point-in-time
Non-current deposits	`DepositsAssetsNoncurrent`	$232.00K	USD	Point-in-time
Total assets	`Assets`	$20.52M	USD	Point-in-time
Total assets	`Assets`	$20.04M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.51M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.92M	USD	Point-in-time
Accrued payroll and related costs	`EmployeeRelatedLiabilitiesCurrent`	$4.94M	USD	Point-in-time
Accrued payroll and related costs	`EmployeeRelatedLiabilitiesCurrent`	$5.01M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$511.00K	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$531.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$31.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$119.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.18M	USD	Point-in-time
Total liabilities	`Liabilities`	$7.18M	USD	Point-in-time
Total liabilities	`Liabilities`	$7.40M	USD	Point-in-time
Commitments and contingent liabilities (Note 2)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingent liabilities (Note 2)	`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; 125,000,000 shares authorized and 5,145,772 shares issued as of March 31, 2015 and 5,099,184 shares issued as of December 31, 2014	`CommonStockValue`	$51.00K	USD	Point-in-time
Common Stock, par value $.01; 125,000,000 shares authorized and 5,145,772 shares issued as of March 31, 2015 and 5,099,184 shares issued as of December 31, 2014	`CommonStockValue`	$51.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$12.73M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$12.97M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$4.02M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$4.22M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-25.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-7.00K	USD	Point-in-time
Treasury stock, at cost; 815,954 shares as of March 31, 2015 and 795,063 as of December 31, 2014	`TreasuryStockValue`	$3.92M	USD	Point-in-time
Treasury stock, at cost; 815,954 shares as of March 31, 2015 and 795,063 as of December 31, 2014	`TreasuryStockValue`	$4.12M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$13.11M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$12.87M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$20.52M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$20.04M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$27.06M	USD	1 Quarter
Revenues	`Revenues`	$28.68M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$22.37M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$23.46M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.22M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.69M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.36M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.83M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.39M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$328.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$-23.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$-12.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-5.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$31.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$311.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.40M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$116.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$533.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$195.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$869.00K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.20	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.04	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.20	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.31M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.33M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.44M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.44M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$195.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$869.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$31.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$55.00K	USD	1 Quarter
Interest amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$5.00K	USD	1 Quarter
Interest amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$8.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$95.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$85.00K	USD	1 Quarter
Deferred income taxes, net	`DeferredIncomeTaxExpenseBenefit`	$8.00K	USD	1 Quarter
Deferred income taxes, net	`DeferredIncomeTaxExpenseBenefit`	$-79.00K	USD	1 Quarter
(Gain) loss on derivative contract	`DerivativeGainLossOnDerivativeNet`	$7.00K	USD	1 Quarter
(Gain) loss on derivative contract	`DerivativeGainLossOnDerivativeNet`	$-13.00K	USD	1 Quarter
Accounts receivable and unbilled receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-122.00K	USD	1 Quarter
Accounts receivable and unbilled receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-2.87M	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-34.00K	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-16.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-140.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$404.00K	USD	1 Quarter
Accrued payroll and related costs	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-68.00K	USD	1 Quarter
Accrued payroll and related costs	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$497.00K	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-52.00K	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$2.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$35.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-88.00K	USD	1 Quarter
Net cash flows provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.56M	USD	1 Quarter
Net cash flows provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$372.00K	USD	1 Quarter
(Payments for) refund of non-current deposits	`PaymentsForRecoveryOfNoncurrentDeposits`	$-32.00K	USD	1 Quarter
(Payments for) refund of non-current deposits	`PaymentsForRecoveryOfNoncurrentDeposits`	$2.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$57.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$15.00K	USD	1 Quarter
Net cash flows (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-17.00K	USD	1 Quarter
Net cash flows (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-25.00K	USD	1 Quarter
Proceeds from short-term borrowings, net	`ProceedsFromShortTermDebt`	$1.62M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfEquity`	$201.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfEquity`	$272.00K	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$16.00K	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$9.00K	USD	1 Quarter
Increase in excess tax benefits related to stock options/restricted shares, net	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$123.00K	USD	1 Quarter
Increase in excess tax benefits related to stock options/restricted shares, net	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$305.00K	USD	1 Quarter
Net cash flows provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.66M	USD	1 Quarter
Net cash flows provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-62.00K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$285.00K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$84.00K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.85M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$508.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$424.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.85M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$508.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$424.00K	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$195.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$869.00K	USD	1 Quarter
Net unrealized gain on cash flow hedges	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax`	$52.00K	USD	1 Quarter
Net unrealized gain on cash flow hedges	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax`	$29.00K	USD	1 Quarter
Income tax expense	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$20.00K	USD	1 Quarter
Income tax expense	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$11.00K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$18.00K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$32.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$213.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$901.00K	USD	1 Quarter

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