11.09.2009 09:00 AM
Chyron Posts 3Q Loss
MELVILLE, N.Y.: Chyron ended its third quarter with a net loss of $800,000 or 5 cents a share, on revenues of $6.4 million that were down 31 percent from a year ago. Chyron (NASDAQ: CHYR) posted a 3Q08 profit of $16.7 million that included a $16.4 million tax benefit.

“Third-quarter revenues were in line with the experience of the previous nine months,” said Chyron chief Michael Wellesley-Wesley. “Many of our broadcast customers have curtailed their capital equipment spending and have deferred or cancelled planned upgrade programs. We have adjusted to this new reality by reducing headcount and cutting salaries while continuing to push forward our product development as aggressively as possible.”

Wellesley-Wesley said 3Q09 R&D investment was 29 percent of revenues, and he said there was continued “widespread” interest in Axis, the online graphics platform the company acquired last year. 

“Today we have five of the top 20 TV station
groups as AXIS customers and I confidently expect other major TV station groups to join Fox, Scripps, Sinclair, Post Newsweek and Gannett as Axis customers in 2010,” Wellesley-Wesley said. “We believe we are the leading cloud service provider in the media content creation space.

“We are also seeing early signs of increasing demand for our broadcast systems and I expect our fourth-quarter revenue to reflect this improvement. We believe that year-over-year comparisons should show improvement from this point forward.”
Deborah D. McAdams

More on Chyron:
August 13, 2009: “Chyron Posts 2Q Loss on Contracted Broadcast Spending
Chyron posted a 2Q loss of $1.1 million on revenues of $5.8 million for the quarter ending June 30. Revenues were down 42 percent.

March 30, 2009: Chyron Posts ’08 Profit on Tax Benefit
 Chyron generated $34.3 million last year, up 6 percent from $32.3 million in 2007. Net income was $17.8 million, compared to $3.7 million the previous year, driven primarily by combined tax benefits of $18 million.

January 17, 2008: Chyron Acquires Axis Graphics for $3 Million
Chyron, acquired New York-based Axis Graphics for $3 million in cash and stock.

Post New Comment
If you are already a member, or would like to receive email alerts as new comments are
made, please login or register.

Enter the code shown above:

(Note: If you cannot read the numbers in the above
image, reload the page to generate a new one.)

No Comments Found

Tuesday 03:07 PM
WMUR-TV Says FAA Drone Rules Preclude ENG
The FAA’s current rules and proposed ban on flight over people, requirement of visual line of sight and restriction on nighttime flying, effectively prohibit broadcasters from using UAS for newsgathering. ~ WMUR-TV General Manager Jeff Bartlett

Sue Sillitoe, White Noise PR /   Friday 11:15 AM
DPA Microphones Expands Its d:facto™ Vocal Microphone Range
Wall Street Communications /   Thursday 06:30 PM
Joseph Electronics Announces Kick Box Fiber Breakouts
Zazil Media Group /   Thursday 11:51 AM
Orad Presents 3D Pre-Visualization at NAB Booth SL6317

Featured Articles
Discover TV Technology