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June 14, 1999
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Mastech Among America's Hottest-Growing Firms: Business WeekR S Shankar in Pittsburgh Mastech Corporation, a leading worldwide information technology company, has been named by BusinessWeek as one of America's hottest-growing companies. The magazine ranks companies based on their three-year results in sales growth, earnings growth and return on invested capital. "This recognition, and our rapid growth, is a strong indicator that our strategy to be a leading global IT solutions firm is working extremely well," said Sunil Wadhwani, Mastech's chairman and Chief Executive Officer, "and it represents a unique value proposition to our worldwide client base." To qualify for BusinessWeek selection, a company must have annual sales of $ 25 million and less than $ 500 million, and a market value greater than $ 25 million and a stock price greater than $ 5. Mastech, founded by two friends, Wadhwani and Ashok Trivedi, who serves as co-chairman and president, is ranked among the top 20 IT companies. Wadhwani says he expects its revenues to reach $ 1 billion in a few years. Its revenues, nearing $ 500 million, have been doubling in the past few years. Last year, revenues exceeded $ 410 million; in the first quarter of this year, the company grossed $ 120 million. Mastech, founded about 12 years ago, has over 5,500 employees across the world. Among its many services, Mastech develops leading edge, high impact e-business solutions. Its implementation services in the leading enterprise-wide package solutions -- Oracle, SAP R/3, PeopleSoft and JD Edwards -- include project management, customization, integration and upgrade. A leader in Year 2000 remedial programs, Mastech's SmartAPPS includes impact analysis and renovation tools for IBM mainframe and other environments. "Y2K technology has played a significant but small part in our growth," says Trivedi. "Mastech has many more things going apart from Y2K technology." Recently Mastech began training many of its Year 2000 experts to enter other IT areas. "We have a lot of Year 2000 consultants who need to move into other skill areas, such as Oracle financials, Java and Visual Basic," said Vidhyu Rao, manager of education and training.
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