Chyron of Melville posts smaller loss in first quarter
Chyron Corp., Melville
Makes equipment to produce graphics for television, online and mobile applications
Quarter: Ended March 31
Net income: Loss of $700,000, compared with loss of $900,000
in the first quarter of 2009.
Net revenue: $6.9 million
compared with $6.3 million in the year-ago quarter.
Outlook: Michael Wellesley-Wesley, president and chief executive, said: "After spending the recessionary period developing our technology and putting into place the means to drive future growth, we believe that revenue and earnings bottomed out in 2009, and we expect to see both begin to climb this year."
Company statement: "Our goals for the remainder of the year are twofold: build growth and continue investing in our future."
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