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.
Sarra Sounds Off Ep. 35: EI baseball, girls lacrosse and plays of the week On the latest episode of "Sarra Sounds Off," we look at East Islip baseball's inspirational comeback story, Jared Valluzzi has the plays of the week and Tess Ferguson breaks down the top defensive players in girls lacrosse.
Sarra Sounds Off Ep. 35: EI baseball, girls lacrosse and plays of the week On the latest episode of "Sarra Sounds Off," we look at East Islip baseball's inspirational comeback story, Jared Valluzzi has the plays of the week and Tess Ferguson breaks down the top defensive players in girls lacrosse.
