ChyronHego merger lifts sales, but loss widens
Johan Apel, chief executive of ChyronHego Corp., of Melville. Credit: ChyronHego Corp.
ChyronHego Corp. Friday posted a 57 percent year-over-year increase in first quarter revenues to $12.6 million, but a wider net loss of $3.2 million, or 10 cents per diluted share, versus $900,000, or 5 cents per diluted share, in 2013.
The growth in revenue was largely attributed to the merger between Long Island-based Chyron Corp. and Sweden's Hego AB that was completed in May 2013.
Shares of the Melville-based broadcast graphics and data visualization company lost more than 11 percent to close at $2.06.
In a conference call, CEO Johan Apel said that gross margins were squeezed by investments related to graphics projects with European soccer leagues and Major League Baseball.
Sarra Sounds Off, Ep.16: From Island to island, how football helped overcome tragedy Newsday's Gregg Sarra talks to Carey football player James McGrath about how he has persevered after losing his parents at a young age, and to the Lahainaluna (Hawaii) High School football coach about how his team persevered after the Maui wildfires of 2023, plus a behind-the-scenes look at the All-Long Island teams photo shoot.
Sarra Sounds Off, Ep.16: From Island to island, how football helped overcome tragedy Newsday's Gregg Sarra talks to Carey football player James McGrath about how he has persevered after losing his parents at a young age, and to the Lahainaluna (Hawaii) High School football coach about how his team persevered after the Maui wildfires of 2023, plus a behind-the-scenes look at the All-Long Island teams photo shoot.
