Tuesday, 13 February 2007

Brainhunter Posts Record First Quarter

Brainhunter Inc. rang up revenues of $54,730,398 for its first quarter ending Dec. 31 2006, the company announced Feb. 13th.

That compares to revenues of $33,861,839 for the quarter ending December 31, 2005.
EBITDA for the first quarter was $2,007,186 versus $714,514 for the comparable quarter in the previous year.

Brainhunter said the critical mass it now enjoys through its aggressive acquisitions and recent cost cuttings have put it on solid ground for organic growth going forward.
To view its press release click here.
We tend to agree with management's statement. It appears that the company is nearing the critical mass necessary to convert sales into solid bottom line results. Despite the fact that Interest and Amortization expense increased 61% Q/Q and SG&A + other staffing costs increased 25.8% Q/Q (largely still from the residue of recent acquisitions), BH managed to reduce its loss by $676,758 to just $261,318. A sign of things moving in the right direction.