Mastech digital reports record third quarter 2021 results

Pittsburgh, oct. 27, 2021 /prnewswire/ -- mastech digital, inc. (nyse american: mhh), a leading provider of digital transformation it services, announced today its financial results for the third quarter ended september 30, 2021. third quarter 2021 highlights: consolidated revenues totaled a record $59.5 million, a 26% increase over the third quarter 2020, with sequential growth of 11% when compared to the second quarter of 2021; the company's data and analytics services segment reported record revenues of $10.5 million, representing year-over-year organic growth of 19% and sequential growth of 18% over second quarter 2021, reflecting healthy pipeline activities during the first nine months of 2021; the it staffing services segment reported record revenues of $49 million, an increase of 22% over third quarter of 2020 and representing sequential growth of 10% over second quarter 2021, largely due to a 24% increase in consultants-on-billing achieved during the first nine months of 2021; consolidated gross margins increased 30 basis points on a year-over-year basis and were 120 basis points higher than in the second quarter of 2021; gaap diluted earnings per share were $0.28 in the third quarter of 2021 versus $0.25 in the third quarter of 2020; non-gaap diluted earnings per share were $0.38 in the third quarter of 2021 versus $0.32 in the third quarter of 2020, and represented an improvement of $0.09 over the second quarter of 2021.
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