FINANCIALS: US Mastech’s Hudson IT buy boosts profits
US IT staffing services provider Mastech’s June 2015 acquisition of recruiter Hudson's IT division helped boost full-year profitability, its latest financial results show.
Announcing Mastech’s Q4 and full-year financial results for the respective periods to 31 December 2015, its chief executive Kevin Horner said year-on-year comparables show Hudson IT to have been “an excellent acquisition”.
Mastech’s financial report shows:
• Q4 revenue of US$32.5m (£22.3m), up from $28.5m in Q4 2014
• Q4 gross profit of $6.7m, up from $5.2m
• Full-year revenue of $125.5m, up from $113.5m in 2014
• Full-year GP of $23.8m (19.3% of revenue), up from $20.8m (18.3% of revenue) in 2014
No detail was given, however, on just how much the acquisition affected financial performance.
