Brainhunter Inc. (TSX: BH) reported a net loss of C$2.95 million (US$2.97 million) in its fiscal year ending Sept. 30 compared with C$4.7 million in the prior year. The company said the loss was mostly attributable to non-cash expenses such as accreted interest and amortization.

Revenue at Brainhunter rose 34.9% to C$224.6 million (US$226.4 million) from C$166.5 million. Gross margin slipped to 15.2% from 16.6%.

Brainhunter Inc. (TSX: BH)
For the year ended Sept. 30, 2007, compared with 2006.
Revenue: C$224.6 million (US$226.4 million), +34.9%
Net loss: C$2.95 million (US$2.97 million) vs. net loss of C$4.7 million