10-Q Filing

MASTECH DIGITAL, INC. CIK: 1437226 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001193125-16-586480`
Period End Date	20160331
Filing Date	20160511
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	mhh-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 90 Income Statement 28 Cash Flow Statement 45 Comprehensive Income 10

Balance Sheet 90 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for uncollectible accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$313.00K	USD	Point-in-time
Accounts receivable, allowance for uncollectible accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$313.00K	USD	Point-in-time
Preferred Stock, par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred Stock, par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.85M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$830.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$848.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $313 in 2016 and 2015	`AccountsReceivableNetCurrent`	$16.39M	USD	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $313 in 2016 and 2015	`AccountsReceivableNetCurrent`	$17.79M	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Unbilled receivables	`UnbilledContractsReceivable`	$3.08M	USD	Point-in-time
Unbilled receivables	`UnbilledContractsReceivable`	$2.80M	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$737.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$587.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	5.17M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$217.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$466.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	5.17M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	816,638.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$22.89M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	816,638.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$20.84M	USD	Point-in-time
Equipment	`MachineryAndEquipmentGross`	$1.14M	USD	Point-in-time
Equipment	`MachineryAndEquipmentGross`	$1.15M	USD	Point-in-time
Enterprise software	`CapitalizedComputerSoftwareGross`	$645.00K	USD	Point-in-time
Enterprise software	`CapitalizedComputerSoftwareGross`	$645.00K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$332.00K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$342.00K	USD	Point-in-time
Total equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentGross`	$2.13M	USD	Point-in-time
Total equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentGross`	$2.13M	USD	Point-in-time
Less - accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.47M	USD	Point-in-time
Less - accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.52M	USD	Point-in-time
Net equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentNet`	$604.00K	USD	Point-in-time
Net equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentNet`	$656.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$92.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$118.00K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinancingCostNetOfAmortization`	$87.00K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinancingCostNetOfAmortization`	$97.00K	USD	Point-in-time
Non-current deposits	`DepositsAssetsNoncurrent`	$237.00K	USD	Point-in-time
Non-current deposits	`DepositsAssetsNoncurrent`	$237.00K	USD	Point-in-time
Goodwill	`Goodwill`	$8.43M	USD	Point-in-time
Goodwill	`Goodwill`	$8.43M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$7.92M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$8.13M	USD	Point-in-time
Total assets	`Assets`	$38.48M	USD	Point-in-time
Total assets	`Assets`	$40.29M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$1.80M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$1.80M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.37M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.21M	USD	Point-in-time
Accrued payroll and related costs	`EmployeeRelatedLiabilitiesCurrent`	$5.96M	USD	Point-in-time
Accrued payroll and related costs	`EmployeeRelatedLiabilitiesCurrent`	$5.28M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$1.01M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$339.00K	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$603.00K	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$714.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$341.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$277.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.79M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$10.74M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$13.59M	USD	Point-in-time
Total liabilities	`Liabilities`	$24.38M	USD	Point-in-time
Total liabilities	`Liabilities`	$22.67M	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; 125,000,000 shares authorized and 5,169,143 shares issued as of March 31, 2016 and as of December 31, 2015	`CommonStockValue`	$52.00K	USD	Point-in-time
Common Stock, par value $.01; 125,000,000 shares authorized and 5,169,143 shares issued as of March 31, 2016 and as of December 31, 2015	`CommonStockValue`	$52.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$13.23M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$13.11M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$6.79M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$6.78M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-37.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-19.00K	USD	Point-in-time
Treasury stock, at cost; 816,638 shares as of March 31, 2016 and December 31, 2015	`TreasuryStockValue`	$4.12M	USD	Point-in-time
Treasury stock, at cost; 816,638 shares as of March 31, 2016 and December 31, 2015	`TreasuryStockValue`	$4.12M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$15.80M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$15.91M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$38.48M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$40.29M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$31.71M	USD	1 Quarter
Revenues	`Revenues`	$27.06M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$25.60M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$22.37M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.69M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.11M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.36M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.98M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$328.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$135.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$-12.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$-116.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-5.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-2.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$17.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$311.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$6.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$116.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$195.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.00K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.04	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.33M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.35M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.45M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.44M	shares	1 Quarter

Cash Flow Statement 45 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$195.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$55.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$255.00K	USD	1 Quarter
Interest amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$10.00K	USD	1 Quarter
Interest amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$5.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$95.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$115.00K	USD	1 Quarter
Deferred income taxes, net	`DeferredIncomeTaxExpenseBenefit`	$-79.00K	USD	1 Quarter
Deferred income taxes, net	`DeferredIncomeTaxExpenseBenefit`	$-275.00K	USD	1 Quarter
Loss on derivative contract	`DerivativeGainLossOnDerivativeNet`	$-7.00K	USD	1 Quarter
Accounts receivable and unbilled receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$1.67M	USD	1 Quarter
Accounts receivable and unbilled receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$122.00K	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$138.00K	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$34.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$404.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$160.00K	USD	1 Quarter
Accrued payroll and related costs	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-683.00K	USD	1 Quarter
Accrued payroll and related costs	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-68.00K	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-594.00K	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$2.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-88.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-64.00K	USD	1 Quarter
Net cash flows provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.87M	USD	1 Quarter
Net cash flows provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$372.00K	USD	1 Quarter
Refund of non-current deposits	`PaymentsForRecoveryOfNoncurrentDeposits`	$-32.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$57.00K	USD	1 Quarter
Net cash flows (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-25.00K	USD	1 Quarter
Borrowings on revolving credit facility, (net)	`ProceedsFromRepaymentsOfLinesOfCredit`	$3.31M	USD	1 Quarter
(Repayments) on term loan facility	`RepaymentsOfDebt`	$450.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfEquity`	$201.00K	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$16.00K	USD	1 Quarter
Increase in excess tax benefits related to stock options/restricted shares, net	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$123.00K	USD	1 Quarter
Net cash flows provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$2.85M	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`	$-18.00K	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`	$830.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$848.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	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`	$830.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$848.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	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`	$11.00K	USD	1 Quarter
Total pretax net unrealized gain (loss)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$29.00K	USD	1 Quarter
Total pretax net unrealized gain (loss)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$-30.00K	USD	1 Quarter
Income tax expense (benefit)	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$11.00K	USD	1 Quarter
Income tax expense (benefit)	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$-12.00K	USD	1 Quarter
Total other comprehensive income (loss), net of taxes	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-18.00K	USD	1 Quarter
Total other comprehensive income (loss), net of taxes	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$18.00K	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-7.00K	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$213.00K	USD	1 Quarter

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