Get the latest news and trends on Long Island companies and the people behind them.
Expenses widen ChyronHego's loss
ChyronHego Corp., a Melville-based graphics company, said Friday that its third-quarter net loss widened to $1 million, from $700,000, a year earlier, because of layoff and merger expenses.
The company, which creates graphics for broadcast, cable and online companies, said that excluding those expenses, net income was $800,000. The company has said that it eliminated a number of positions in May as part of a restructuring. Also in May, it merged with Hego Aktiebolag, a Swedish company that specializes in sports coverage in Northern European markets.
Revenue rose 94 percent to $14 million, in large part because it included Hego’s sales. Excluding revenue from Hego, sales rose 23 percent year over year.
ChryonHego pioneered the ubiquitous news crawl that streams at the bottom of TV news broadcasts. It has struggled to become profitable in recent years because of media industry cutbacks.