2016 Form 10-K Financial Statement

#000119312517094899 Filed on March 24, 2017

View on sec.gov

Income Statement

Concept 2016 2015 Q4 2015 Q3
Revenue $132.0M $32.54M $34.57M
YoY Change 6.92% 13.98% 20.71%
Cost Of Revenue $105.7M $25.82M $27.69M
YoY Change 6.06% 10.72% 18.28%
Gross Profit $26.30M $6.718M $6.879M
YoY Change 10.5% 28.5% 31.61%
Gross Profit Margin 19.92% 20.65% 19.9%
Selling, General & Admin $21.79M $4.510M $5.356M
YoY Change 13.98% 14.47% 41.39%
% of Gross Profit 82.86% 67.13% 77.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $203.0K $260.0K $260.0K
YoY Change -7.31% 420.0% 766.67%
% of Gross Profit 0.77% 3.87% 3.78%
Operating Expenses $21.79M $4.510M $5.356M
YoY Change 13.98% 14.47% 41.39%
Operating Profit $4.507M $2.208M $1.523M
YoY Change -3.74% 71.43% 5.84%
Interest Expense -$462.0K -$50.00K -$125.0K
YoY Change 57.68% 400.0% 495.24%
% of Operating Profit -10.25% -2.26% -8.21%
Other Income/Expense, Net -$25.00K -$70.00K $1.000K
YoY Change -169.44% 600.0% -108.33%
Pretax Income $4.020M $2.090M $1.399M
YoY Change -9.15% 64.57% -0.5%
Income Tax $1.500M $810.0K $512.0K
% Of Pretax Income 37.31% 38.76% 36.6%
Net Earnings $2.520M $1.289M $887.0K
YoY Change -8.46% 65.26% 0.91%
Net Earnings / Revenue 1.91% 3.96% 2.57%
Basic Earnings Per Share $0.29 $0.30 $0.20
Diluted Earnings Per Share $0.28 $0.29 $0.20
COMMON SHARES
Basic Shares Outstanding 8.786M shares 4.353M shares 4.341M shares
Diluted Shares Outstanding 8.964M shares 4.438M shares

Balance Sheet

Concept 2016 2015 Q4 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $829.0K $850.0K $700.0K
YoY Change -2.24% -66.93% -72.55%
Cash & Equivalents $829.0K $848.0K $698.0K
Short-Term Investments
Other Short-Term Assets $753.0K $810.0K $1.010M
YoY Change -6.34% -22.86% -8.18%
Inventory
Prepaid Expenses
Receivables $21.10M $16.39M $16.73M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $22.68M $20.84M $21.84M
YoY Change 8.84% 10.63% 12.42%
LONG-TERM ASSETS
Property, Plant & Equipment $558.0K $656.0K $674.0K
YoY Change -14.94% -6.42% 35.34%
Goodwill $8.427M $8.427M
YoY Change
Intangibles $8.126M $8.330M
YoY Change
Long-Term Investments
YoY Change
Other Assets $424.0K $430.0K $500.0K
YoY Change -0.47% -14.0% 8.7%
Total Long-Term Assets $16.72M $17.64M $17.93M
YoY Change -5.18% 1364.7% 1763.83%
TOTAL ASSETS
Total Short-Term Assets $22.68M $20.84M $21.84M
Total Long-Term Assets $16.72M $17.64M $17.93M
Total Assets $39.41M $38.48M $39.77M
YoY Change 2.41% 91.96% 95.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.963M $2.213M $2.948M
YoY Change -11.3% 46.17% 99.46%
Accrued Expenses $8.298M $6.570M $5.840M
YoY Change 26.34% 18.59% -10.7%
Deferred Revenue
YoY Change
Short-Term Debt $1.800M $0.00 $0.00
YoY Change 0.0%
Long-Term Debt Due $1.800M $1.800M
YoY Change
Total Short-Term Liabilities $12.26M $11.94M $10.70M
YoY Change 2.69% 66.33% 30.62%
LONG-TERM LIABILITIES
Long-Term Debt $8.077M $10.74M $14.53M
YoY Change -24.78%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $8.077M $10.74M $14.53M
YoY Change -24.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.26M $11.94M $10.70M
Total Long-Term Liabilities $8.077M $10.74M $14.53M
Total Liabilities $20.33M $22.67M $25.23M
YoY Change -10.32% 215.97% 207.96%
SHAREHOLDERS EQUITY
Retained Earnings $6.777M $5.488M
YoY Change 68.41% 69.28%
Common Stock $13.17M $13.22M
YoY Change 2.99% 25811.76%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.121M $4.116M
YoY Change 5.26% 8.49%
Treasury Stock Shares 816.6K shares 816.0K shares
Shareholders Equity $19.07M $15.80M $14.53M
YoY Change
Total Liabilities & Shareholders Equity $39.41M $38.48M $39.77M
YoY Change 2.41% 91.96% 95.07%

Cashflow Statement

Concept 2016 2015 Q4 2015 Q3
OPERATING ACTIVITIES
Net Income $2.520M $1.289M $887.0K
YoY Change -8.46% 65.26% 0.91%
Depreciation, Depletion And Amortization $203.0K $260.0K $260.0K
YoY Change -7.31% 420.0% 766.67%
Cash From Operating Activities $2.292M $4.010M -$2.210M
YoY Change -24.28% 832.56% -214.51%
INVESTING ACTIVITIES
Capital Expenditures $105.0K -$40.00K -$30.00K
YoY Change -37.5% -84.62% -88.89%
Acquisitions
YoY Change
Other Investing Activities $67.00K -$10.00K $0.00
YoY Change -100.4% -80.0%
Cash From Investing Activities -$38.00K -$40.00K -$20.00K
YoY Change -99.78% -87.1% -92.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.273M -3.810M 2.440M
YoY Change -118.36% 3363.64% -777.78%
NET CHANGE
Cash From Operating Activities 2.292M 4.010M -2.210M
Cash From Investing Activities -38.00K -40.00K -20.00K
Cash From Financing Activities -2.273M -3.810M 2.440M
Net Change In Cash -19.00K 160.0K 210.0K
YoY Change -99.87% 1500.0% -83.97%
FREE CASH FLOW
Cash From Operating Activities $2.292M $4.010M -$2.210M
Capital Expenditures $105.0K -$40.00K -$30.00K
Free Cash Flow $2.187M $4.050M -$2.180M
YoY Change -23.5% 486.96% -199.09%

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69000
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CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
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13000
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103000
CY2015 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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441000
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143000
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0
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103000
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11000
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219000
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0.340 pure
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6000
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6000
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4000
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53000
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4425000
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16987000
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23000
CY2015 us-gaap Proceeds From Issuance Of Debt
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430000
CY2015 us-gaap Increase Decrease In Accounts Payable
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CY2016 dei Entity Filer Category
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Smaller Reporting Company
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813000
CY2016 dei Entity Voluntary Filers
EntityVoluntaryFilers
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101000
CY2015 us-gaap Operating Income Loss
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4682000
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CY2015 us-gaap Net Cash Provided By Used In Investing Activities
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CY2015 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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12377000
CY2015 us-gaap Income Taxes Paid Net
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309000
CY2015 us-gaap Increase Decrease In Deferred Revenue
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191000
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10000
CY2015 us-gaap Increase Decrease In Employee Related Liabilities
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953000
CY2015 us-gaap Income Tax Expense Benefit
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1672000
CY2015 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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3027000
CY2015 us-gaap Goodwill Acquired During Period
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8427000
CY2015 us-gaap Income Tax Reconciliation State And Local Income Taxes
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144000
CY2015 us-gaap Increase Decrease In Accounts And Other Receivables
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4017000
CY2015 us-gaap Payments To Acquire Property Plant And Equipment
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168000
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900000
CY2015 us-gaap Stock Issued During Period Shares Stock Options Exercised
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19000 shares
CY2015 us-gaap Treasury Stock Value Acquired Cost Method
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206000
CY2015 us-gaap Severance Costs1
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305000
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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4441000 shares
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19117000
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0
CY2015 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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103000 shares
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Purchased For Award
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8921 shares
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69000
CY2015 us-gaap Treasury Stock Shares Acquired
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35000
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
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0 shares
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CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2015 us-gaap Stock Issued During Period Value Stock Options Exercised
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17000
CY2015 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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16000
CY2015 us-gaap Proceeds From Stock Options Exercised
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17000
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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183000
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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0 shares
CY2015 us-gaap Share Based Compensation
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262000
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P0Y
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0
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38000
CY2015 mhh Payments For Recovery Of Noncurrent Deposits
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38000
CY2016 dei Entity Registrant Name
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Mastech Digital, Inc.
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152000
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1451000
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241000
CY2016 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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250000 shares
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10-K
CY2016 us-gaap Employee Stock Ownership Plan Esop Weighted Average Purchase Price Of Shares Purchased
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7.07
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0001437226
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12000
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12000
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7000
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2520000
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75000
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4020000
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-38000
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2292000
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26000
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3544000
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476000
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173000
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4507000
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13000
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-38000
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19000
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1680000
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2292000
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13000
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780000
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4482000 shares
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P5Y
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P8Y
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UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.000 pure
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
7.04
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
89000 shares
CY2016 mhh Number Of Consultants
NumberOfConsultants
900 Consultant
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y3M18D
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Purchased For Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward
1931 shares
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
0
CY2016 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
20000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
0 shares
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.81
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
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4393000 shares
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101000
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MHH
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15000
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101000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.559 pure
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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849000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0134 pure
CY2016 us-gaap Share Based Compensation
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408000
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P5Y6M
CY2016 us-gaap Stock Repurchase Program Expiration Date
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2016-12-22
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0
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27000
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0 Clients
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0.05
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27060000
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195000
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0.09
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5515000
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CY2016Q2 us-gaap Earnings Per Share Diluted
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CY2016Q4 us-gaap Earnings Per Share Basic
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CY2016Q4 us-gaap Earnings Per Share Diluted
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0.14
CY2016Q4 us-gaap Revenues
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32402000
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640000

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