ChyronHego narrows loss, doubles revenue

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.