Revenue for Richmond's DDS Wireless Int. (TSX:DD) dropped to $20.6 million in 2007 from $23.6 million the year before.
The company said a stronger Canadian dollar compared with its U.S. counterpart is largely to blame for the loss. Meanwhile, it's operating expenses rose to $11.9 million from $9.9 million in 2006.
The wireless technology developer said the foreign exchange loss amounted to $0.28 per share in 2007 compared with $0.19 in 2006.
It added that its Mobisoft and StrateGen acquisitions in October 2007 also affected the company's year-end financial results.
DDS' share price range during the past week: between $2.50 and $2.87; 52-week high: $3.20; 52-week low: $2.25.