Friday, 9 February 2007

Catalyst Report A Catalyst?

Catalyst Equity Research analyst Robin Cornwell initiated coverage on Brainhunter in 2006 and updated his coverage on January 19th with a one-year (unchanged) target of $1.65 per share based on Brainhunter’s Q4 and year-end results exceeding expectations.

Some excerpts from the report:

On an adjusted basis excluding restructuring charges and stock compensation EBITDA was approximately $4.4 million or $0.10 per share ($0.09 fully diluted), which was better than our forecast $4.1 million. Revenue exceeded expectations by over $2 million at $166.5 million up from $76.1 million in 2005.

“An impressive Q4/06 nicely positions Brainhunter for what we expect to be a significant increase in EBITDA for fiscal 2007”.

“Brainhunter is in a unique position to garner significant benefits from its recent cost restructuring, its enhanced strategic market position from two recent and fully integrated acquisitions, and its significant investment in technology.”

Click here to link to the report.