ChyronHego narrows loss, doubles revenue
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ChyronHego Corp. Friday posted a 98 percent increase in fourth quarter revenues to $14.7 million and a narrowed net loss of $3.8 million versus $20 million in the year-ago period.
Net loss per diluted share was 12 cents compared to $1.17 in the prior year.
The Melville-based maker of broadcast graphic and data visualization products acquired Swedish sports graphics company Hego Aktiebolag in May.
In a conference call, CEO Johan Apel said the merger created a company "with a much more robust business model" and more stable revenues.
Major League Baseball is using software from ChyronHego with a camera array this season in a trial of an innovative system to record data on each play, such as how fast an outfielder gets to a fly ball.
In late afternoon trading, shares of ChyronHego climbed more than 8 percent to $2.76.
In the conference call, Apel also noted that the company's equipment is being used at several universities, including Hofstra in Hempstead.
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Get ready for sun and fun with NewsdayTV's summer FunBook special! From celebrating America's 250th birthday to a new ride at Adventureland, NewsdayTV's Elisa DiStefano and Newsday lifestyle editor Meghan Giannotta have your inside look at Newsday's summer FunBook.
