10-Q Filing

MASTECH DIGITAL, INC. CIK: 1437226 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001193125-18-159870`
Period End Date	20180331
Filing Date	20180511
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	mhh-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 90 Income Statement 28 Cash Flow Statement 50 Comprehensive Income 11

Balance Sheet 90 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for uncollectible accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$408.00K	USD	Point-in-time
Accounts receivable, allowance for uncollectible accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$398.00K	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`	$829.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.48M	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.27M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$876.00K	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 $408 in 2018 and $398 in 2017	`AccountsReceivableNetCurrent`	$22.88M	USD	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $408 in 2018 and $398 in 2017	`AccountsReceivableNetCurrent`	$24.78M	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Unbilled receivables	`UnbilledContractsReceivable`	$8.78M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Unbilled receivables	`UnbilledContractsReceivable`	$7.79M	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`	$868.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.53M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$34.67M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.28M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.28M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$35.70M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	820,636.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	820,636.00	shares	Point-in-time
Equipment	`MachineryAndEquipmentGross`	$1.41M	USD	Point-in-time
Equipment	`MachineryAndEquipmentGross`	$1.40M	USD	Point-in-time
Enterprise software	`CapitalizedComputerSoftwareGross`	$1.99M	USD	Point-in-time
Enterprise software	`CapitalizedComputerSoftwareGross`	$2.10M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$365.00K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$365.00K	USD	Point-in-time
Total equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentGross`	$3.88M	USD	Point-in-time
Total equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentGross`	$3.75M	USD	Point-in-time
Less - accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.90M	USD	Point-in-time
Less - accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.85M	USD	Point-in-time
Net equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentNet`	$1.90M	USD	Point-in-time
Net equipment, enterprise software, and leasehold improvements	`PropertyPlantAndEquipmentNet`	$1.97M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$475.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$468.00K	USD	Point-in-time
Non-current deposits	`DepositsAssetsNoncurrent`	$255.00K	USD	Point-in-time
Non-current deposits	`DepositsAssetsNoncurrent`	$294.00K	USD	Point-in-time
Goodwill	`Goodwill`	$35.84M	USD	Point-in-time
Goodwill	`Goodwill`	$35.84M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$24.77M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$25.46M	USD	Point-in-time
Total assets	`Assets`	$41.58M	USD	Point-in-time
Total assets	`Assets`	$99.06M	USD	Point-in-time
Total assets	`Assets`	$98.60M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$4.19M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$4.00M	USD	Point-in-time
Current portion of contingent consideration liability	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$6.12M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.39M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.03M	USD	Point-in-time
Accrued payroll and related costs	`EmployeeRelatedLiabilitiesCurrent`	$7.13M	USD	Point-in-time
Accrued payroll and related costs	`EmployeeRelatedLiabilitiesCurrent`	$8.97M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$1.68M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$2.30M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$191.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$430.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$24.33M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$20.11M	USD	Point-in-time
Long-term debt, less current portion, net	`LongTermDebtNoncurrent`	$34.15M	USD	Point-in-time
Long-term debt, less current portion, net	`LongTermDebtNoncurrent`	$34.97M	USD	Point-in-time
Contingent consideration liability, less current portion	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$11.00M	USD	Point-in-time
Contingent consideration liability, less current portion	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$17.12M	USD	Point-in-time
Long-term accrued income taxes	`AccruedIncomeTaxesNoncurrent`	$68.00K	USD	Point-in-time
Long-term accrued income taxes	`AccruedIncomeTaxesNoncurrent`	$68.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$71.45M	USD	Point-in-time
Total liabilities	`Liabilities`	$70.37M	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; 125,000,000 shares authorized and 6,282,348 shares issued as of March 31, 2018 and 6,281,235 as of December 31, 2017	`CommonStockValue`	$63.00K	USD	Point-in-time
Common Stock, par value $.01; 125,000,000 shares authorized and 6,282,348 shares issued as of March 31, 2018 and 6,281,235 as of December 31, 2017	`CommonStockValue`	$63.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$20.30M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$20.41M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$10.92M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.30M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$17.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$66.00K	USD	Point-in-time
Treasury stock, at cost; 820,636 shares as of March 31, 2018 and as of December 31, 2017	`TreasuryStockValue`	$4.15M	USD	Point-in-time
Treasury stock, at cost; 820,636 shares as of March 31, 2018 and as of December 31, 2017	`TreasuryStockValue`	$4.15M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$28.69M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$27.15M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$98.60M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$99.06M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$33.10M	USD	1 Quarter
Revenues	`Revenues`	$43.33M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$26.89M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$33.07M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.21M	USD	1 Quarter
Gross profit	`GrossProfit`	$10.26M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.82M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.81M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$403.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$2.44M	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$-473.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$-102.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-39.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$21.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.93M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$322.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$546.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$121.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.38M	USD	1 Quarter
Net income	`NetIncomeLoss`	$201.00K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.25	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.04	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.25	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.04	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.50M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	5.46M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.53M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.56M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.38M	USD	1 Quarter
Net income	`NetIncomeLoss`	$201.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$748.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$252.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$10.00K	USD	1 Quarter
Interest amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$9.00K	USD	1 Quarter
Interest amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$22.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$105.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$107.00K	USD	1 Quarter
Deferred income taxes, net	`DeferredIncomeTaxExpenseBenefit`	$8.00K	USD	1 Quarter
Deferred income taxes, net	`DeferredIncomeTaxExpenseBenefit`	$-7.00K	USD	1 Quarter
Loss of disposition of fixed assets	`GainLossOnDispositionOfAssets`	$-4.00K	USD	1 Quarter
Accounts receivable and unbilled receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$2.27M	USD	1 Quarter
Accounts receivable and unbilled receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$2.91M	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-756.00K	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$23.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$989.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-633.00K	USD	1 Quarter
Accrued payroll and related costs	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-1.84M	USD	1 Quarter
Accrued payroll and related costs	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-2.37M	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$617.00K	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-50.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-111.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-239.00K	USD	1 Quarter
Net cash flows (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.25M	USD	1 Quarter
Net cash flows (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.99M	USD	1 Quarter
Payment for non-current deposits	`PaymentsForRecoveryOfNoncurrentDeposits`	$6.00K	USD	1 Quarter
Payment for non-current deposits	`PaymentsForRecoveryOfNoncurrentDeposits`	$39.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$37.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$130.00K	USD	1 Quarter
Net cash flows (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-43.00K	USD	1 Quarter
Net cash flows (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-169.00K	USD	1 Quarter
Borrowings on revolving credit facility, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$1.94M	USD	1 Quarter
Borrowings on revolving credit facility, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$3.79M	USD	1 Quarter
(Repayments) on term loan facility	`RepaymentsOfDebt`	$450.00K	USD	1 Quarter
(Repayments) on term loan facility	`RepaymentsOfDebt`	$953.00K	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.00K	USD	1 Quarter
Net cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$990.00K	USD	1 Quarter
Net cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$3.34M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-42.00K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$47.00K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.21M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$829.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.48M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.27M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$876.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$829.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.48M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.27M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$876.00K	USD	Point-in-time

Comprehensive Income 11 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.38M	USD	1 Quarter
Net income	`NetIncomeLoss`	$201.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-42.00K	USD	1 Quarter
Total pretax net unrealized gain	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$80.00K	USD	1 Quarter
Total pretax net unrealized gain	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$11.00K	USD	1 Quarter
Income tax expense	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$31.00K	USD	1 Quarter
Income tax expense	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$5.00K	USD	1 Quarter
Total other comprehensive income, net of taxes	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$6.00K	USD	1 Quarter
Total other comprehensive income, net of taxes	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$49.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.43M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$207.00K	USD	1 Quarter

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