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Q1 Earnings
revenue 2013 8.017m compared to 7.877m in 2012
net loss (.917) vs (.951)
(.05) vs (.06)
TVB Hong Kong chooses Chyron graphics solution
Magna Systems and Engineering supplies TVB Jade, TVB Pearl and J2 television channels with Chyron Channel Box HD graphics solution.
Posted on 29 April 2013 by Melody Uy
Hong Kong – TVB, the first free-to-air television broadcaster in Hong Kong, recently purchased and installed multiple Chyron Channel Box HD graphics solutions from Magna Systems and Engineering for the technical and on-air graphics presentation requirements of its TVB Jade, TVB Pearl and J2 television channels.
TVB reaches out to overseas Chinese communities, with its productions available in Mainland China, Taiwan, Macau, the United States, United Kingdom, Canada, Australia, Republic of Ireland, New Zealand, Thailand, Vietnam, Malaysia, and Singapore, among others, on channels such as TVB's own TVBS-Europe subscription satellite service.
The new HD graphics solution was required to provide moving graphics and audio playout alongside TVB's custom playout application and existing automation system. TVB also had specific criteria for the HD graphics system that included a fast loading time less than one second between graphics scenes, straightforward software development, Unicode language support, a high level of flexibility and maximum reliability.
Frankie Yau, Engineering Manager at Magna Systems and Engineering Hong Kong explained, “We first showed TVB them the graphics capability of the Chyron Channel Box system and then followed up with an intensive Proof of Concept (POC) test and review. TVB are a very thorough organisation and also wanted a POC with an automation control interface playback of various graphics scenes multiple times. With our deep knowledge of automation integration we provided and assisted them with a lab simulation of the automation playout control interface in order to test the system with a schedule of events, and also the reliability and graphics functionality of the system. This process also ensured the graphics scenes were able to be played back consistently over automated control playback.”
Powered by a realtime 2D/3D render engine Chyron's Channel Box HD graphics solution delivers TVB's three channels with up-to-the-minute headlines, financial data, weather reports, live to air credit squeezes, “L” frame tickers and automated promos. The Channel Box system also supports ODBC data sources, text files, XML and a full VB Scripting engine. Control over the system is extensive with support for Chyron's Intelligent Interface protocol, VDCP, GPI, COM API, or manual control via a custom control panel.
Magna Systems has a long and successful relationship with TVB Hong Kong, in part due to the company's key focus on providing its clients with comprehensive service and support. In the case of the recent Channel Box installation, as a systems integrator, Magna helped the broadcaster launch the first of their channels complete with the new HD graphics in less than five weeks – a feat that included onsite testing and fine tuning during the on air launch period.
Frankie Yau concluded, “With their new Chyron Channel Box HD graphics solution all three TVB channels' scene graphics and data changes fully load and play within one second of the trigger window with predefined time, sequences and effects. The new Channel Box system also supports TVB's various dynamic database updates and works efficiently with their custom application development. Magna Systems provided TVB with testing, support and training on the Channel Box installation and helped with their in-house software application development and automation integration. We also played an important role helping to liaise and capture all the key system information they would require and provided our usual high level of prompt service and support throughout the entire project.”
http://www.onscreenasia.com/article/tvb-hong-kong-chooses-chyron-graphics-solution/12170#.UX55STGu6Ns.twitter
ChyronHego wins at NAB
18 April 2013
In addition to the overwhelming reception that ChyronHego received from customers at this year’s NAB, the newly merged company was also the proud recipient of the Broadcast Engineering Pick Hit award.
The award was given to the ChyronHego player tracking graphics system that is able to apply graphics onto live video to track sports players in 3D space. It takes live 3D player tracking data from the ChyronHego Tracab system and is then able to apply a variety of different real-time visualisations , such name-straps or highlighting tools, to be able to identify players and help to provide better insight into sports play. As the graphics are time-coded in synchronisation to the video, they can be applied not only live, but also on first replays. This enables sports analysis that would normally be reserved for half-time or full-time talk shows, to be aired almost immediately on a first replay.
The product has already been deployed by Fox Sports on their NFL and MLB coverage and is also due to be deployed across several major European broadcasters for their live football productions. It has also been successfully used on other sports such as tennis and basketball to great effect.
With a long history, Pick Hits are the most prestigious technical awards given at NAB. A panel of independent judges toured the show floor for three days, looking for innovative products and technology. The judges then met to make their selections based on several criteria, including the technical and financial improvements the product can bring to broadcast operations.
Commenting on the award, Group Sales Director Ian Wray said, “This award is a tremendous endorsement of the continuous innovation that both Chyron and Hego have both been bringing to the market over the past 40 years. It also gives a clear indication of the kind of innovation the industry should continue to expect from ChyronHego for the next 40.”
http://www.hegogroup.com/news.aspx?id=112
Bundesliga Selects ChyronHego as Official Provider of Real-Time Digital Sports Data
League to Implement Industry-Leading TRACAB Technology in Bundesliga and Bundesliga 2 Live Sports Broadcasts
LAS VEGAS, NV -- (Marketwired) -- 04/08/13 -- ChyronHego (NASDAQ: CHYR) today announced that the Deutsche Fußball Liga (DFL) has selected ChyronHego to provide real-time digital sports data for the Bundesliga and Bundesliga 2's live sporting broadcasts. ChyronHego's acclaimed TRACAB system will be used to collect player and ball statistics in unprecedented detail for the span of the four year contract, valid until the close of the 2016/17 season.
"We are extremely proud to be engaging with the DFL on this important initiative," said Chairman and CEO of Hego, Johan Apel. "The latest 4th generation of our TRACAB tracking technology that will be rolling out across the Bundesliga, will give huge possibilities on gaining much deeper insight into the game for clubs, the media and fans. It also offers exciting new opportunities for visually enhancing the league's live TV coverage and second-screen applications with ChyronHego's wide array of industry-standard broadcast solutions."
The landmark contract has been awarded to ChyronHego who formed a consortium with Opta Sport and with whom they have worked on similar joint projects internationally. Opta Sport will be supplying match-specific statistics such as goals, assists, and throw-ins, etc. Hego will be collecting player/ball-specific data such as positional data, distance covered, and speeds.
The underlying aim of the contract is to support German professional clubs in their efforts to optimise sporting performance through state-of-the-art analytical methodologies and technology. The volume and depth of data to be provided will be the most comprehensive of any such contract in the professional game worldwide, and the package will make additional data and video-based material available to the clubs at no extra cost.
In addition to supplying data to the league, the agreement also gives ChyronHego and Opta the rights to market the official Bundesliga and Bundesliga 2 data to the media, betting agencies, clubs, and league associations.
ITV plc, the U.K.'s largest commercial television network, will replace the complete graphics infrastructure across its 10 ITV News regions with ChyronHego's BlueNet™. The BlueNet end-to-end graphics workflow solution, an innovative mix of cloud services with ground applications and hardware, will enable ITV News to establish a highly efficient model of collaborative graphics creation that in turn supports each U.K. ITV News site in taking more high-quality graphics to air in the shortest cycle time.
"The ChyronHego solution for ITV's regional news graphics production has enabled us to transform the way we produce quality on-screen graphics live-to-air," said Paul Stevenson, director of technology and technical operations at ITV News. "We have centralised our creative graphics hub, allowing our small team of skilled designers to collaborate and serve our dispersed regional news studio operations. Journalists in the regions will have a powerful set of templates giving them the capability to produce their own high-quality graphics with a fast turnaround to serve their local news programmes."
http://finance.yahoo.com/news/itv-news-refit-10-u-123000300.html
Puerto Rico’s WAPA Televisión Upgrades to HD With ChyronHego’s BlueNet™ Graphics Workflow
ChyronMELVILLE, N.Y. — ChyronHego today announced that WAPA-TV, the leading broadcast television network and content producer in Puerto Rico, has implemented the company’s state-of-the-art BlueNet graphics workflow to bring high definition graphics into their master control, live news and programming environments. Installed in WAPA-TV’s main production and master control facilities in Guaynabo, the ChyronHego solutions will support graphics creation and playout, graphics asset management, channel branding, live social media commentary, and augmented reality.
“Investing in ChyronHego’s graphics solutions has put WAPA Televisión at the forefront of this type of technology in our competitive market,” said Enrique Cruz, senior executive news director at WAPA-TV. “With an unparalleled on-air presentation, ChyronHego’s impressive real-time graphics were the driving force behind our top Nielsen ratings during our 20-hour live continuous coverage of the 2012 Puerto Rican Election. With cutting-edge products, professional staff and first-class support, ChyronHego has saved us valuable time and money, and have helped to make our transition to HD a true success.”
WAPA-TV’s BlueNet workflow consists of ChyronHego’s flagship HyperX³?¹ on-air graphics systems, Lyric PRO™ graphics creation software, Channel Box² channel branding and promo systems, SHOUT™ social media software, and the CAMIO graphics asset management solution — all of which are seamlessly integrated to bring high-quality broadcast graphics to air quickly and easily.
“WAPA-TV has implemented one of the most advanced BlueNet workflows in the Latin American market and in the world,” said Aldo Campisi, vice president of Latin American sales at ChyronHego. “ChyronHego’s BlueNet workflow and augmented reality solution offers broadcasters flexibility and a comprehensive approach to graphics production with interactive, easy-to-use products that are essential in a competitive market.”
More information on ChyronHego products and services is available on the company websites: www.chyron.com and
Form 4 filed this evening - Director bought on the open market (P)
OGDEN ROGER
Common Stock 3/18/2013 - 30000 at $1.25
holds 160679
Think Blue Highlights of 2012
From Thinking Blue around the globe at major industry events, to launching innovative products, to major client installations worldwide, to receiving key accolades from top industry publications — and everything in between — Chyron has had an exciting year and is pleased to share with you some of the highlights along the way.
January: Raycom is Thinking Blue! Dave Folsom, Raycom Media’s VP and CTO, is featured in Broadcast Engineering discussing the adoption of the Chyron BlueNet workflow across 31 of their news-producing stations.
February: Broadcasters everywhere bring social media commentary into their live broadcasts for the first time with SHOUT, our new easy-to-use social media editor debuted by TNT and TBS for the SAG Awards Coverage.
March: March product madness is in effect! Introducing the all-new MediaMaker, a turnkey graphics rendering solution for file-based workflows; ENGAGE, a second screen and social TV platform; and Shotbox for Lyric, an app that brings intuitive live graphics playout control to the iPad®
April: The Chyron booth is buzzing at yet another successful NAB show! Chyron ENGAGE is all the rage and earns a TV Technology STAR (Superior Technology Award Recipient) Award.
May: Great new graphics for the win! Chyron Creative Services and Phase 3 Productions — a TV, film, and multimedia production company based in Kingston, Jamaica — team up in overhauling TV broadcasts for the country’s Red Stripe Premier League (RSPL).
June: Roll out the red carpet! UK-based graphics company and a longtime Chyron client, MOOV Ltd, brings graphics fit for a queen to air using Chyron HyperX³ on-air graphics systems for the Diamond Jubilee honoring Queen Elizabeth.
July: Olympic fever is in the air! Chyron is chosen to provide 10 HyperX³·¹ on-air graphics playout systems to NBC Olympics during its production of the 2012 London Olympic Games, July 27-August 12, 2012.
August: Welcome HyperXLP, the newest member of the HyperX family. Ideal for live news, sports, and OB productions, HyperXLP is a dual-channel-capable broadcast graphics platform that sets a new standard for performance in a compact 1-RU design.
September: Chyron shines brightly (along with the sun for a change!) at IBC2012. Making its debut and winninga TV Technology Europe STAR (Superior Technology Award Recipient) Award, the all-new ChyronIP graphics system for NewTek’s TriCaster is a big hit!
October: ChyronIP travels abroad! Dubai-based MediaCast — a premier distributor of professional audio/video solutions ranging from broadcast, live-to-post, and on demand — signs on as the newest ChyronIP distributor in the Middle East.
November: Chyron’s own, Todd Martin, participates in a panel discussion titled, “Entertainment in the CLOUD,”at the Cloud Computing West business strategy summit in Santa Monica, CA on Nov. 8.
December: Chyron SHOUT just got a whole lot louder! Introducing SHOUT 2.5, the latest version of our easy-to-use social media editor, now boasting the ability to display images within social media messages and much more. Click here to find out how to get your free 30-day trial.
Chyron’s Hego Acquisition Shifts Graphics Market on Both Sides of the Pond
By: Jason Dachman, Managing Editor
Tuesday, March 12, 2013 - 1:52 pm | Print This Story
In a move that drastically affects the broadcast-graphics market in both North America and Europe, Chyron has signed a definitive agreement to acquire the Hego Group. With the acquisition, Chyron, which already claims more than 90% of the graphics market in North American mobile-production trucks, adds a number of key data-visualization elements to its product portfolio, including Hego’s AKI Paint telestration, Virtual Placement, and other image/player tracking applications.
“There is already a major installed market [in North America] where we can now introduce upgrades and further developments, as well as further opportunities in other regions,” says Chyron President/CEO Michael Wellesley-Wesley. “It makes all the sense in the world to join together. In addition, Chyron has all the sales and support structure already in place to support the sports market. It’s really a natural move.”
The combined company will be rebranded as ChyronHego. Though already unanimously approved by Chyron’s board of directors, the transaction is still subject to approval by Chyron shareholders and is expected to close in the second quarter. At the closing of the transaction, Johan Apel, chairman/CEO of Hego Group, will be elected to Chyron’s board of directors and will be appointed president and COO of ChyronHego. Wellesley-Wesley will remain as ChyronHego CEO.
What It Means for Chyron
Chyron, which revealed Monday that its 2012 4Q revenue was down 9% and its overall 2012 revenue was off 4% from 2011, hopes that the acquisition will provide a much-needed shot in the arm leading into the upcoming NAB Show in April.
In addition to Hego’s product portfolio and burgeoning position in the U.S. (the company’s tools are already a fixture on several Fox Sports’ Daytona 500, NFL, and MLB postseason telecasts just 12 months after entering the North American market), Chyron can now boast a stronger foothold in Europe with Hego’s Stockholm headquarters and various locations and growing number of clients throughout the continent.
“Although we have expanded quite nicely internationally — especially in the European area — most of our revenues are still generated in North America,” says Wellesley-Wesley. “And, with Hego having in excess of 100 people in the Nordic countries, Central and Eastern Europe, and the UK, and they recently had a big win in Germany with the Bundesliga, I think you will see a strong contribution from the combined company coming out of Europe.”
Wellesley-Wesley adds that Latin America, where Chyron has already been successfully offering its products in tandem with Hego systems, represents a region with the “potential for significant expansion in the sports market.”
What It Means for Hego
For Hego, the deal is expected to provide more resources and the ability to expose its products to Chyron’s widespread base of freelance users.
“There are tremendous opportunities to join our technologies together since our products tie in directly with the more traditional Chyron CG environment,” says Hego U.S. President Kevin Prince. “It also allows us to build out our freelance pool of users, of which Chyron obviously has quite a few. It creates a very natural talent pool for us to better support the U.S. market.”
Hego’s rapid growth in the U.S. over the past year stretched the company’s resources, an issue that is no longer expected to be a problem with Chyron’s backing.
“For Hego, this also gives us more access to both North and South American markets,” adds Prince. “Clearly, the U.S. market is the crown jewel, but the speed of adoption of [Hego products] could potentially put a tremendous strain on both our local services and the ability for Sweden to support us. So this merger is almost like a knight in shining armor coming out of the fog for us. It allows us to capitalize on the support structure and team that Chyron already has.”
What To Expect at NAB and Beyond
Although both companies provide graphics systems, they predominantly address different levels in the graphics ecosystem, making the two product lines rather complementary, with little overlap. As a result, Wellesley-Wesley does not see significant layoffs as a result of the merger.
“We are in the process of putting together the optimal management and organization structure in real time right now, so it is difficult to give a categorical answer to [whether or not there will be layoffs or staffing changes],” he said. “But what I would say is that the thinking behind this merger is to create a growth company. This merger is not driven by the desire to cut costs or lay off people. It’s all about creating new growth opportunities.”
Both companies will exhibit at Chyron’s NAB booth location (SL1010), while Hego’s previously established location (SL8027) will be used as a whisper suite to tease upcoming products to selected customers.
Breaking Down the Numbers
Officially, the transaction will take the form of a stock transaction whereby Chyron will issue a number of shares of common stock, which will represent 40% of its aggregate shares of common stock outstanding, including certain outstanding options, after the closing, in exchange for all of Hego’s outstanding capital stock. Upon the achievement of certain revenue milestones during 2013, 2014, and/or 2015, Hego’s shareholders will also be entitled to receive additional shares of Chyron common stock such that the total number of shares issued in the transaction is equal to 50% of the aggregate shares of Chyron common stock outstanding, including certain outstanding options, after the closing.
Hego’s shareholders will also be entitled to appoint one other member to Chyron’s board of directors. Morpheus Capital Advisors acted as exclusive financial advisor and provided a fairness opinion to Chyron’s board of directors that the transaction is fair to Chyron and its shareholders from a financial point of view.
http://sportsvideo.org/main/blog/2013/03/12/chyrons-hego-acquisition-shifts-graphics-market-on-both-sides-of-the-pond/
“Player Pointer” on Fox Sports
24 January 2013
On the current NFL season, Fox Sports viewers have been treated to an assortment of impressive new enhancement tools that have helped bring the live coverage even more to life and bring new insight to viewers on the tactics behind the game-play and enhance the story telling.
Through Hego’s acclaimed Tracab player tracking technology, Fox Sports are now able to select any player on the live game and have a name-strap graphic appear above the player which then follows their movement in real-time. Additionally, as the tracking system knows exactly where each player is on the pitch, statistics relating to distance and speed can also be incorporated into the graphic.
Fox Sports call this brand new capability “The Fox Player Pointer” and their production crew and commentators are extremely excited about the possibilities it offers in evolving their coverage in the future as they adapt new ways of using the technology to provide even greater insight for their NFL fans.
This is the first use of Hego's world leading Tracab technology in the US and highlights Fox's commitment to constantly innovate their live coverage experience. Fox have commissioned Hego to provide this state-of-the-art technology for both the 2012 and 2013 NFL seasons. It will be deployed on all NFL Fox "A" games on Sundays and College Football League (NCAA) "A" games on Saturdays. This represents a total of 40 games during the period.
The Hego Tracab cameras are placed high up in each stadium and connected to Fox’s OB truck via fibre interconnect. NFL football stadia provide excellent locations for the cameras and the tracking results obtained are superb. During each game a “tagging” spotter is located in the stadium where they have a clear view of the field of play. Their job is simply to associate the player numbers with each tracked objects, Tracab then does the rest automatically.
The resultant tracking data is then packaged into an XML UDP stream containing all the X, Y & Z positional information 25 times per second for each and every player on the field. This is then transmitted in real-time to the virtual graphics visualisation system for rendering. Sportvision, provide this element of the solution using the same instrumented cameras already in place for creating their virtual first-down line for Fox.
The solution has been warmly received all round and marks the beginning of an exciting phase in using live tracking data to enhance live sports coverage across many sports in the US. Hego is excited at the prospect of continuing to improve the NFL solution in partnership with Fox and to look for new ways to help bring even greater insight to fans
CHYRON REPORTS FINANCIAL RESULTS FOR THE FOURTH QUARTER
AND FULL YEAR 2012
MELVILLE, N.Y., March 11, 2013 -- Chyron Corporation (NASDAQ: CHYR), a leading provider of Graphics as a Service for on-air and digital video applications, today announced its financial results for the fourth quarter and full year ended December 31, 2012.
Fourth Quarter and Full Year 2012 Financial Highlights include:
· Q4 2012 revenues decreased 9% to $7.4 million compared to $8.1 million in Q4 2011;
· Q4 2012 service revenues increased 6% to $2.2 million compared to $2.1 million in Q4 2011;
· Product revenues were down 13% to $5.2 million in Q4 2012 versus $6.0 million in Q4 2011;
· Full year 2012 revenues decreased 4% to $30.2 million versus $31.6 million in 2011;
· Full year service revenues increased 11% in 2012 to $8.5 million versus $7.7 million in 2011;
· Full year 2012 product revenues decreased 9% to $21.7 million compared to $23.9 million in 2011;
Michael Wellesley-Wesley, Chyron CEO commented; “While somewhat disappointing, our fourth quarter financial results were in line with our experience of 2012 as a whole and similar from an end user demand standpoint to conditions being reported by our principal competitors. Demand weakened in the second half of 2012 and didn’t have a meaningful recovery in the fourth quarter. We believe that revenue growth in our traditional mature segments is achievable only through competitive wins and the current depressed and price competitive environment suggests that we will need to move in a different direction for us to rebuild shareholder value. Our industry will consolidate over the next 2-3 years in response to the rapid technology changes currently impacting the broadcast space. There are pockets of strong growth that we need to address and the best way to achieve growth is through alliances, partnerships and acquisitions.”
Fourth Quarter 2012 Financial Results
Revenues for the fourth quarter decreased 9% to $7.4 million compared to $8.1 million in the fourth quarter of 2011.
Product sales for the fourth quarter decreased 13% to $5.2 million compared to $6.0 million in the comparable quarter of 2011. Service revenues, which include revenues from the Company’s AXIS cloud-based graphics service, as well as systems hardware and software maintenance agreements, systems commissioning, training and creative services, increased 6% to $2.2 million from $2.1 million in the comparable quarter last year. Service revenues as a percentage of total
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revenues for the fourth quarter of 2012 were 29% as compared to 25% in the prior year’s fourth quarter.
Gross profit margin for the fourth quarter decreased to 69.1% compared to 71.4% in last year’s fourth quarter. Operating expenses for the quarter were $5.7 million compared to $6.2 million in the comparable quarter of 2011, representing a decrease of 8%. The Company had an operating loss of $0.57 million for the fourth quarter of 2012 compared to an operating loss of $0.43 million in the fourth quarter of 2011.
The Company recorded a net loss of $20.0 million, or $(1.17) per diluted share, in the fourth quarter of 2012 compared to a net loss of $0.4 million, or $(0.02) per diluted share, in the fourth quarter of 2011. Included in the $20.0 million net loss was a $19.5 million valuation allowance against the Company’s deferred tax assets as explained in more detail below.
Full Year 2012 Results
Revenues for full year 2012 decreased 4% to $30.2 million compared to $31.6 million in 2011.
Product revenues in 2012 decreased 9% to $21.7 million compared to $23.9 million in full year 2011. Product revenues as a percentage of total revenues for 2012 were 72% as compared to 76% in 2011.
Service revenues for the full year, which include revenues from the Company’s AXIS cloud-based graphics service, as well as systems hardware and software maintenance agreements, system commissioning, training and creative services, increased 11% to $8.5 million from $7.7 million in 2011. Service revenues as a percentage of total revenues for 2012 were 28% as compared to 24% in 2011.
Gross profit margin for full year 2012 decreased to 69.2% compared to 70% in 2011. Operating expenses for full year 2012 were $24.7 million compared to $24.1 million in 2011, representing an increase of 2%, primarily driven by 10% higher research and development expenses and 4% higher sales and marketing expenses, offset somewhat by 12% lower general and administrative expenses. The Company had an operating loss of $3.7 million in 2012 compared to an operating loss of $1.9 million in 2011.
For the full year 2012 the Company recorded a net loss of $22.3 million compared to a net loss of $4.2 million in full year 2011. As required by generally accepted accounting principles, the Company’s management assessed the likelihood that the Company’s deferred tax assets will be realizable in the future. In making this assessment management considered all available evidence, both positive and negative, in determining whether it is more likely than not that the deferred tax assets will be realized. Management considered that the Company incurred a loss in 2012 and preceding fiscal years, and that near-term market and economic conditions remain uncertain, thereby reducing management’s ability to reliably project future taxable income in determining the realizability of the Company’s deferred tax assets. Based on management’s evaluation, the Company recorded a $19.5 million charge to its income tax provision and a corresponding decrease in deferred tax assets to recognize a valuation allowance against those deferred tax assets. This $19.5 million charge is included in the total $18.5 million income tax provision for 2012.
Chyron to Acquire Hego Group
PrintAlert
Chyron Corp. (MM) (NASDAQ:CHYR)
Intraday Stock Chart
Today : Monday 11 March 2013
Chyron Corporation (NASDAQ: CHYR), a leading provider of Graphics as a Service for on-air and digital video applications, today announced that it has signed a definitive agreement to acquire Hego AB and its subsidiaries (collectively, "Hego Group"), a leading provider of powerful graphics and data visualization solutions for TV and sports. Hego Group is a privately-held company with its headquarters in Stockholm, Sweden, and has operations in Norway, Finland, Czech Republic, UK and USA. The combined company will be rebranded as ChyronHego.
The transaction will take the form of a stock transaction whereby Chyron will issue a number of shares of Chyron common stock which will represent 40% of its aggregate shares of common stock outstanding, including certain outstanding options, after the closing, in exchange for all of Hego's outstanding capital stock. Upon the achievement of certain revenue milestones during 2013, 2014 and/or 2015, Hego's shareholders will also be entitled to receive additional shares of Chyron common stock such that the total number of shares of Chyron common stock issued in the transaction is equal to 50% of the aggregate shares of Chyron common stock outstanding, including certain outstanding options, after the closing.
The transaction is subject to customary closing conditions, including the approval by Chyron's shareholders, and is expected to close in the second quarter of 2013. Chyron's board of directors unanimously approved the transaction and Chyron shareholders representing 40% of Chyron's outstanding common stock have committed to vote in favor of the transaction. At the closing of the transaction, Johan Apel, chairman and CEO of Hego Group, will be elected to Chyron's board of directors and will be appointed president and COO of ChyronHego. Michael Wellesley-Wesley, president and CEO of Chyron, will remain as ChyronHego CEO. Hego's shareholders will also be entitled to appoint one other member to Chyron's board of directors. Morpheus Capital Advisors acted as exclusive financial advisor and provided a fairness opinion to Chyron's board of directors that the transaction was fair to Chyron and its shareholders from a financial point of view as of the date of this press release.
"The merger of Chyron and Hego brings together two pioneering companies to create a global leader in broadcast graphics creation, playout, and real-time data visualization. This is a truly transformative transaction for Chyron," said Michael Wellesley-Wesley. "By combining the teams and resources of Chyron and Hego, we will deliver to our customers a highly diverse and compelling broadcast graphics capability."
The Chyron and Hego product lines are complementary with very little overlap. Hego's solutions predominantly address the needs of live sports production with product categories such as Augmented Reality and Virtual Product Placement, Telestration, and Production Services offerings based around their proprietary Image and Player Tracking solutions. For its part, Chyron has recently been more focused on graphics solutions for live and near-live news production workflows. Upon consummation of the transaction, it is anticipated that ChyronHego would vault to second place in terms of global market share.
Mr. Wellesley-Wesley also added, "Hego is a well-managed, fast growing, profitable company with state-of-the-art products. ChyronHego will be focused on near- and long-term value creation for its shareholders, and we believe its comprehensive and competitive product portfolio will quickly make it a market leader in our industry."
"With this merger, we are looking forward to integrating Hego and Chyron solutions and working together to innovate new products and services," stated Johan Apel, chairman and CEO of Hego Group. "Our objective is to develop powerful, easy-to-use solutions for sports, news and live TV. Hego has grown quickly over the last few years but this merger takes us to a whole new level, especially in North and South America where our offerings have been generating significant interest. We're excited about this combined company and I believe that our customers are the real beneficiaries."
Conference Call and Webcast: Hego Transaction, Fourth Quarter and Full Year 2012 Financial Results:
Chyron Corporation management will host a conference call on Monday, March 11, 2013, at 10:00 AM eastern time, to review the Hego transaction and the fourth quarter and full year 2012 results. Participants using the telephone should dial 877-556-5248 (U.S. and Canada) or 720-545-0029 (International), and enter conference code 20581174. Web participants are encouraged to go to http://investor.chyron.com or www.earnings.com. A replay will be available shortly after the call on http://investor.chyron.com, click on Events & Presentations.
About Chyron
Chyron (NASDAQ: CHYR) is a leading provider of Graphics as a Service for on-air and digital video applications including newsrooms, studios, sports broadcasting facilities, and corporate video environments. An Emmy® Award-winning company whose products have defined the world of digital and broadcast graphics, Chyron's graphics solutions include the Axis World Graphics online content creation software and order management system, on-air graphics systems, clip servers, channel branding, and graphics asset management solutions, all of which may be incorporated into the company's BlueNet™ end-to-end graphics workflow. More information about Chyron products and services is available on the company websites: www.chyron.com and www.axisgraphics.tv. The company's investor relations information is at www.chyron.com, click on "Investors".
About Hego Group
Founded in 1969, Hego has spent over four decades helping broadcasters and the sports industry offer audiences a more engaging live entertainment experience. Hego has a reputation for being at the forefront of enhancing the presentation of live data and video through its innovative technology in real-time graphics, virtual graphics, touch and telestration, as well as its revolutionary 3D player tracking system. These capabilities are delivered either as products or as full production services. For more information about the company and its offerings please see www.hegogroup.com.
Special Note Regarding Forward-looking Statements
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: the consummation of a merger transaction with Hego; our ability to combine Chyron and Hego product offerings and sales and marketing activities; current and future economic conditions that may adversely affect our business and customers; our revenues and profitability may fluctuate from period to period and therefore may fail to meet expectations, which could have a material adverse effect on our business, financial condition and results of operations; our ability to maintain adequate levels of working capital; our ability to successfully maintain the level of operating costs; our ability to obtain financing for our future needs should there be a need; our ability to incentivize and retain our current senior management team and continue to attract and retain qualified scientific, technical and business personnel; our ability to expand our Axis online graphics creation solution or to develop other new products and services; our ability to generate sales and profits from our Axis online graphics services, workflow and asset management solutions; rapid technological changes and new technologies that could render certain of our products and services to be obsolete; competitors with significantly greater financial resources; new product and service introductions by competitors; challenges associated with expansion into new markets; and, other factors discussed under the heading "Risk Factors" contained in Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2012, which has been filed with the Securities and Exchange Commission, as well as any updates to those risk factors filed from time to time. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law.
Important additional information will be filed with the SEC and distributed to shareholders of Chyron
Chyron intends to file with the SEC and mail to its shareholders a Proxy Statement on Schedule 14A pursuant to Section 14(a) of the Exchange Act in connection with the proposed transaction described in this document. The Proxy Statement will contain important information about Chyron, Hego, the proposed transaction, and other related matters. Chyron's investors and security holders are urged to read this document carefully when it is available.
Chyron's investors and security holders will be able to obtain free copies of the Proxy Statement and other documents to be filed with the SEC by Chyron regarding the transaction through the web site maintained by the SEC at www.sec.gov.
Chyron and its directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the transactions contemplated by the purchase agreement. Information regarding Chyron's directors and executive officers is contained in Chyron's Form 10-K for the year ended December 31, 2012 and its most recent proxy statement dated April 6, 2012, which are filed with the SEC. Chyron's proxy statement dated April 6, 2012 also contains information regarding the beneficial ownership of Chyron's stock by Chyron's directors and executive officers. A complete description of any interests of Chyron's directors and executive officers in the transactions contemplated by the purchase agreement will be provided in the Proxy Statement.
Over 10 days above $1, so the delisting threat is subsided.
The Company has not issued a press release to that, yet.
Spanish TV picks Chyron for London 2012
by Chris Newbould on Jul 25, 2012
Chyron has announced that Spanish state-owned television broadcaster Televisión Española (TVE) will implement the Chyron BlueNet end-to-end graphics workflow for its on-air look at the London Games July 27- August 12, 2012. TVE will be using the latest Chyron technology to bring live graphics to air, including the CAMIO³.¹ graphics asset management solution, the LEX³.¹ graphics system, and the iSQ centralized playout device, in addition to the award-winning Lyric PRO 8.1 graphics creation software.
"Chyron is delighted to be providing TVE with the most powerful broadcast graphics workflow for visually engaging viewers at the London Games," said Matt Hughes, regional sales director, EMEA, at Chyron. "Chyron is a leader in the live sports arena, and our BlueNet customized workflow provides all the tools needed to bring rich graphics to air for exceptional storytelling."
Chyron and its dealer, Clearcom, have assisted with the BlueNet setup and installation, and will offer support throughout the 24-hour coverage.
Chyron to Provide 10 HyperX3.1 Graphics Systems for NBC Olympics' Coverage of the London 2012 Olympic Games
NEW YORK, NY--(Marketwire -07/24/12)- Chyron (CHYR) will provide 10 HyperX3.1 on-air graphics playout systems to NBC Olympics during its production of the 2012 London Olympic Games, July 27-August 12, 2012. The announcement was made today by Philip Paully, Director, Graphics Engineering and Operations, NBC Olympics, and Peter Morrone, Senior Vice President, Product Engineering, Chyron.
"In our operation, there's no room for error, and every second counts. The centralized asset storage capability powered by Chyron's HyperX3.1 and Apple®'s Xsan 2 is a tremendous time-saver, enabling our operators to instantly access media assets that were once only available to the Mac® systems," Paully said.
Relying on Chyron's HyperX3.1 and Apple's Xsan 2 storage area network, this collaborative workflow environment promises to bring powerful new efficiencies and time savings to the NBC Olympics' graphics production team as they insert graphics displays for the network's live coverage of the London Games.
NBC Olympics worked closely with Chyron and Dynamic Performance Technologies to integrate this powerful graphics workflow solution. After building graphics elements in Adobe® Creative Suite®, the NBC Olympics production team is able to move them seamlessly to editing suites and then to devices for playout to air. Since HyperX3.1 supports Adobe's XMP metadata platform, artists are able to embed critical information about each graphical element, for instance, the correctly spelled name, age, and home country embedded in a specific athlete's head shot.
The finished graphics can then be instantly accessed by the HyperX3.1 operators by clicking a folder from their workstations, a capability that previously was only possible by searching for the assets on a server and then downloading them into the playout system. Any changes to image metadata need only be made once, and the metadata fields are automatically populated at every point at which the graphic will be used. When the graphic is inserted into the programming, the accompanying metadata is automatically extracted and displayed, so NBC Olympics' production staff no longer needs to worry if names are spelled correctly and information about the graphic is accurate.
"This summer's London Olympic Games promise to be a record-breaker, with more than 3,500 hours of broadcast content over a 19-day period from more than a dozen different sports venues. Since much of this programming will be produced live, accuracy and efficiency is critical to success," Morrone said. "We are honored to provide NBC Olympics with state-of-the-art HyperX3.1 graphics playout systems integrated with Adobe's XMP and Apple's Xsan 2 for their production of the London Olympics."
About NBC Olympics:
A division of the NBC Sports Group, NBC Olympics is responsible for producing, programming and promoting NBCUniversal's Olympic coverage. It is renowned for its unsurpassed Olympic heritage, award-winning production, and ability to aggregate the largest audiences in U.S. television history.
Having produced every Summer Olympics since Seoul in 1988 and every Winter Olympics since Salt Lake City in 2002, the networks of NBCUniversal are synonymous with the Games in the United States. In 2011, NBCUniversal acquired the U.S. media rights on all platforms to the 2014 Sochi Winter Olympics, the 2016 Rio Summer Olympics, the 2018 Pyeongchang Winter Olympics, and the 2020 Summer Olympics. At the conclusion of the 2020 Games, NBCUniversal will have presented 17 total Olympic Games and 11 consecutive, the most for a U.S. media company in both categories.
NBC has won an unprecedented 91 Emmy Awards for its Olympics coverage, as well as a prestigious Peabody Award for its presentation of the Beijing Opening Ceremony in 2008, which USA Today said was "the best overall Olympic experience ever provided by a U.S. network."
In addition to its unsurpassed heritage and award-winning production, NBCUniversal is known for aggregating large Olympic audiences, as nine of the top 11 most-watched U.S. television events of all time are Olympic Games presented across the networks of NBCUniversal. The Beijing Summer Olympics rank No. 1 with 215 million viewers.
France's number one broadcaster, TF1, has installed Chyron's Ticker Tool to provide channel branding for LCI, the network's popular 24-hour news channel. At LCI, the newly developed Ticker Tool drives creation of all channel brand elements including clock, logos, and tickers for weather, stocks, and news headlines.
"We needed a significant upgrade to our graphics presentations in order to stay competitive in our market," said Olivier Tremon, head of internal production at TF1. "The Chyron solution has proven to be an excellent choice at LCI, providing state-of-the-art channel branding and animation capabilities as well as up-to-the-minute ticker information that our operators can easily manage and modify."
The Chyron Ticker Tool offers a user-friendly interface for LCI to generate tickers and populate them with rolling content from third-party data sources for weather, stock prices, sports results, and other current and rapidly changing information. For stories automatically built and updated from external data sources, such as stock market data, the Ticker Tool provides spellchecking, cut-and-paste from third-party applications, and the ability to edit stories and modify layouts in a word-processing environment. Bin-and-sequence windows enable operators to build and reorder sequences simply by dragging and dropping them from the bin, a time-saving capability especially useful when inserting breaking news information.
"TF1 is a household name in France and one of the most influential broadcasters in Europe, so we were honored when the network chose Chyron to provide channel branding for the popular LCI news channel," said Paul Glasgow, vice president of EMEA sales at Chyron.
http://www.digitalproductionme.com/article-5538-tf1-chooses-chyron/
~ Friday! $CHYR ~ Earnings posted, pending or coming soon! In Charts and Links Below!
~ $CHYR ~ Earnings expected on Friday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.
http://stockcharts.com/h-sc/ui?s=CHYR&p=D&b=3&g=0&id=p88783918276&a=237480049
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<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=CHYR >>>>>>
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*If the earnings date is in error please ignore error. I do my best.
Chyron Corporation is a supplier of graphics hardware, software and workflow solutions to the television and multimedia industries, including newsroom integration, video asset management systems and, most recently, hosted online graphics creation and distribution services. The Company develops, manufactures, markets and supports hardware and software products, which are designed to provide broadcast-quality graphics and audio for live and pre-recorded productions and to improve workflow and video asset management for broadcast operations. The AXIS Graphics Software-as-a-Service (SaaS) applications provide Web-based, self-service graphics creation for distribution to broadcast systems, the Web, mobile and print without the need for specialized systems or software.
http://www.google.com/finance?q=CHYR
CYRO up 40% in afterhours.
http://www.stockhouse.com/news/news.asp?newsid=5594341&tick=CRYO
Earnings will be out early next month. Could be getting poised for a significant move up on positive earnings. They retired almost all their debt this last quarter, which should bold well for an increase in profits coupled with newest business initatives.
Thanks,
Howard
Chyron Announces First European WAPSTR Installation at Major Spanish Broadcaster Antena 3
Thursday December 21, 11:37 am ET
READING, England--(BUSINESS WIRE)--Chyron Corporation (OTC BB: CYRO - News) has today announced the first European installation of its WAPSTR mobile phone application at Spanish broadcaster Antena 3. Chyron's Spanish partner ClearCom carried out the installation.
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Since mid-December, Spanish television network and media company, Antena 3, has been inviting viewers of its new morning magazine show, Espejo Publico to send questions, comments, birthday pictures and video via their mobile phones. These are then displayed in the lower third of the screen throughout the programme, using WAPSTR, in conjunction with Antena 3's Chyron CAMIO graphic asset management system and Chyron LEX graphics systems.
WAPSTR, which was launched at IBC2006 receiving a number of industry awards, allows broadcasters to air viewer generated breaking news video and snapshots thereby allowing viewers to act as Citizen Journalists, or Waparazzi! This enhanced interaction between viewer and broadcaster builds interest and loyalty and lays the foundation for a completely new viewer experience based on interactivity. The system ensures that content sent by viewers is quickly made available to journalists and producers for inclusion in the broadcast, via Chyron's graphics systems.
Jesus Martinez Barbero, Antena 3's Engineering Director commented, "WAPSTR is a revolutionary product that builds relationships between broadcasters and viewers. Television has traditionally been based on a push concept - broadcasters push content to viewers - until now. Thanks to WAPSTR, viewers can play a major role in our programming, with the minimum of day to day involvement from our technical staff."
Michael Wellesley-Wesley, Chyron's president and CEO added, "Chyron is delighted to announce this key installation of WAPSTR at Antena 3. Chyron strives to develop user friendly software-based solutions for content creation and management in the digital video realm and WAPSTR is changing the face of news and entertainment programming. Inherent in WAPSTR, is the potential to generate new, incremental revenue streams for our broadcast customers and as such we anticipate strong demand for this software in 2007."
ANTENA 3 is the first Spanish Media Group active in the free to air TV and radio broadcasting sectors quoted in the Spanish Stock Exchange. The company also operates in other areas under the following trademarks: ANTENA 3 free to air (TV broadcasting), ONDA CERO (radio), EUROPA FM (radio), ATRES ADVERTISING (media exclusive operator), MOVIERECORD (advertising in movie theatres) and UNIPUBLIC (sports events organiser).
Finally, $1.20 close on 5 times the normal volume. This should be the start of the next leg up. Looking for $2.00 by mid November.
Thanks,
Howard
We need to close > $1.17 to start the next leg up.
Thanks,
Howard
Good action today. I think we should continue to see a slow but steady rise from here with minimal pullbacks for awhile.
Thanks,
Howard
This is one of my higher rated microcap companies.
The key toward share price appreciation will be increasing gross margins on the back of a expanding revenue base.
The chart is also constructive.
It seems to me, the downside from this level is minimal, and the upside could be pretty substainal over tme. Increasing sales and margins, best sales in 10 years, and they are in a growing industry. The CEO is also optimistic about a strong second half of the year.
Thanks,
Howard
Swinging up and down last week. Do u expect this to start going up slowly.??
Chyron should do well over the next couple of years. they are making money in a growing industry.
Thanks,
Howard
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On the current NFL season, Fox Sports viewers have been treated to an assortment of impressive new enhancement tools that have helped bring the live coverage even more to life and bring new insight to viewers on the tactics behind the game-play and enhance the story telling.
Wimbledon's Official Technology Partner, IBM, will serve up a first at this year's All England Lawn Tennis Championships by providing tennis fans with new ground-breaking performance data.In an innovative partnership, IBM will fuse their wealth of statistical data with live performance data provided by sports technology company, TRACAB, to create IBM SecondSight.
The break-through new data - captured 25 times per second - will include player speed around the court, the distance players run and the ball speed from every angle of the court.
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