Mastech Holdings (NYSE: MHH) reported Q3 EPS of $0.20. Revenue for the quarter came in at $44.3 million,.

• Revenues increased 13% to a total of $44.3 million, compared to revenues of $39.2 million in the 2017 third quarter
• The Company's data and analytics services segment, acquired on July 13, 2017, contributed $5.8 million of revenues during the quarter with gross margins of 44.5%
• Organic revenues in the Company's IT staffing services segment increased by 10% compared to the third quarter of 2017. The number of billable consultants at September 30, 2018 in this segment totaled 1,089, an increase of 11 consultants during the quarter
• GAAP diluted earnings per share were $0.14 versus a $0.01 loss in the 2017 third quarter
• Non-GAAP diluted earnings per share were $0.20 versus $0.13 in the 2017 third quarter
• All earnings per share numbers have been adjusted for the Company\'s 2-for-1 stock split announced in July 2018

\"I am pleased with Mastech Digital's performance in the third quarter of 2018," said Vivek Gupta, President and CEO, Mastech Digital. "Our overall revenue and gross profit grew by 13% and 22%, respectively, as compared to the third quarter of 2017. The revenuefrom our Data and Analytics segment was impacted during the third quarter due to several project starts getting pushed out into the fourth quarter, but gross margins have shown a nice improvement over those in the second quarter of 2018. Productivity in our IT Staffing segment continues to remain very high and the revenues were almost flat sequentially despite high seasonal vacations by billable consultants."

Commenting on the Company's financial position, Jack Cronin, Mastech Digital's Chief Financial Officer, stated, "At September 30, 2018, we had bank debt, net of cash balances on hand, of approximately $40 million and $6.5 million of borrowing capacity available to us under our revolving credit line. Our cash flows and debt levels have been impacted by temporary inefficiencies related to the implementation of our new Cloud based ERP platform during third quarter of 2018. We are hopeful to return to normal functionalities related to our sales-to-cash conversion processes by year end. "

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