Mastech Holdings (NYSE: MHH) reported Q1 EPS of $0.23, $0.07 better than the analyst estimate of $0.16. Revenue for the quarter came in at $50.4 million versus the consensus estimate of $46.19 million.

First Quarter 2020 Highlights:

• Total revenues increased 12% to $50.4 million, compared to revenues of $45.2 million in the 2019 first quarter;
• The Company\'s Data and Analytics Services segment reported record revenues for the fourth consecutive quarter;
• The IT Staffing Services segment achieved revenue of $43.1 million, which represented growth of 9% compared to the first quarter of 2019;
• GAAP diluted earnings per share were $0.16 in the first quarter of 2020 versus $0.09 in the 2019 first quarter; and
• Non-GAAP diluted earnings per share were $0.23 in the first quarter of 2020 versus $0.15 in the 2019 first quarter.

Mastech's Response to COVID-19:

Vivek Gupta, the Company\'s President and Chief Executive Officer, stated, "As you are aware the current COVID-19 pandemic and the public health responses to contain it have resulted in global recessionary conditions. I am pleased to say that Mastech Digital responded to these ever-changing developments and challenges in a very proactive manner. We were quick to mobilize our workforce, in both of our business segments, to a remote work-from-home model to mitigate the health risks to our employees and to continue to provide uninterrupted service to our customers. Our entire organization is working incredibly hard to service our customers during these difficult times. We are also prudently adjusting our cost structure in ways that will allow us to maintain our top-notch talent that we have so artfully secured over the years. And we are laser-focused on the business elements that are within our control, and can help mitigate the impact of these recessionary conditions on our financial results. With that said, we did see some impact of COVID-19 during the month of March and we continue to see our businesses being impacted thus far in the second quarter. The ultimate impact on the second quarter and full year 2020 will depend heavily on the duration of social distancing and shelter-in-place mandates, as well as the substance and pace of macroeconomic recovery, all of which are uncertain and difficult to predict considering the rapidly evolving landscape of the COVID-19 pandemic and the public health responses to contain it."

For earnings history and earnings-related data on Mastech Holdings (MHH) click here.