ChyronHego Q4 2013 revenue up 98%

ChyronHego Corp. (NASDAQ: CHYR) said it had fourth quarter 2013 revenues of USD14.7m, an increase of 98 percent when compared to USD7.4m for the prior year´s fourth quarter.

Excluding revenues from Hego, with whom the company merged in May 2013, fourth quarter revenues increased 23 percent.

The company said it showed a net loss of USD3.8m for the fourth quarter, as compared to a net loss of USD20.0m for the prior year´s fourth quarter.

Excluding fourth quarter 2013 severance expense and a charge for the change in fair value of the Hego transaction contingent earn-out liability, it showed net income of USD0.6m for the fourth quarter of 2013. This compares to a fourth quarter 2012 net loss of USD0.5m, excluding the USD19.5m valuation allowance for deferred tax assets.

Full year 2013 revenues were USD47.4m, an increase of 57 percent when compared to USD30.2m in 2012. Excluding revenues from Hego, full year 2013 revenues increased 14 percent.

The year´s net loss was USD7.8m for 2013, as compared to a net loss of USD22.3m in 2012.

ChyronHego is a leader in broadcast graphics creation, playout and real-time data visualization with a wide range of products and services for live television, news and sports production. Headquartered in Melville, N.Y., the company also has offices in the Czech Republic, Denmark, Finland, Germany, Mexico, Norway, Singapore, Slovak Republic, Sweden, and the United Kingdom. Its website is at www.chyronhego.com.

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