Mastech Holdings (MHH) Reports Q1 EPS of $0.09

Mastech Holdings (NYSE: MHH) reported Q1 EPS of $0.09, versus $0.20 reported last year. Revenue for the quarter came in at $27.1 million, versus $28.7 million reported last year.

Comments on the Proposed Acquisition of Hudson Global's U.S IT Staffing Business:

Earlier today, Mastech announced that it signed a definitive asset purchase agreement to acquire Hudson Global's U.S. IT staffing business. Commenting on the proposed acquisition, Kevin Horner stated, "This acquisition will provide Mastech with an impressive list of direct retail client relationships. We plan to maintain this relationship-focused business and all of its sales and recruiting staff. Additionally, we believe that there will be opportunities to leverage the advantages of Mastech's high-volume, low cost recruiting engine to enhance client value. I am very excited about this opportunity, which is expected to be immediately accretive to earnings and is estimated to increase Mastech's revenue run-rate by close to 30 percent." Subject to the completion of customary closing conditions, the acquisition is expected to close in the second quarter of 2015.

In conjunction with its first quarter earnings release, Mastech will host a conference call at 9:00 A.M. ET on May 12, 2015 to discuss these results and to answer questions. A live webcast of this conference call will be available on the Company's website, www.mastech.com. Simply click on the Investor Relations section and follow the links to the live webcast. The webcast will remain available for replay through May 19, 2015.

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

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