Mastech Holdings, Inc. Extends Share Repurchase Program

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Oct 23, 2014, 05:36 ET

PITTSBURGH, Oct. 23, 2014 /PRNewswire/ -- Mastech Holdings, Inc. (NYSE MKT: MHH), a national provider of Information Technology staffing services, announced today that its Board of Directors voted to extend the duration of the Company's existing Share Repurchase Program for an additional two years, through December 22, 2016. Currently there are 495,000 shares yet to be purchased under the program.

Kevin Horner, Mastech's Chief Executive Officer stated, "I'm pleased with our Board's decision to extend the Share Repurchase Program for an additional two years. As I have previously stated, our Board has a multi-year history of using corporate finance transactions as value creation opportunities for our shareholders. I believe that this action falls into that category."

About Mastech Holdings, Inc.:

Leveraging the power of 27 years of IT experience, Mastech (NYSE MKT: MHH) provides Information Technology Staffing services in the disciplines which drive today's business operations. More information about Mastech can be found at Mastech's website: www.mastech.com.

Forward-Looking Statements:

Certain statements contained in this release are forward-looking statements based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements, which include but are not limited to projections of revenues, earnings, and cash flow. These statements are based on information currently available to the Company and it assumes no obligation to update the forward-looking statements as circumstances change. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors, including, without limitation, the level of market demand for its services, the highly competitive market for the types of services offered by the company, the impact of competitive factors on profit margins, market conditions that could cause the Company's customers to reduce their spending for its services, and the company's ability to create, acquire and build new lines of business, to attract and retain qualified personnel, reduce costs and conserve cash, and other risks that are described in more detail in the company's filings with the Securities and Exchange Commission including its Form 10-K for the year ended December 31, 2013.

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SOURCE Mastech Holdings, Inc.