Chyron Reports Continued Net Loss In Spite of Increased Revenue

8 Mar

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Chyron announced its financial results for the fourth quarter and full year ended December 31, 2011.

Fourth Quarter and Full Year 2011 Financial Highlights include:

  • Q4 2011 revenues increased 15% to $8.1 million compared to $7.0 million in Q4 2010;
  • Product revenues up 12% to $6.0 million in Q4 2011 versus $5.3 million in Q4 2010;
  • 24% increase in Q4 2011 service revenues to $2.1 million compared to $1.7 million in Q4 2010;
  • Recurring revenues for the quarter increased 11% compared to the fourth quarter of 2010;
  • Full year 2011 revenues increased 14% to $31.6 million versus $27.7 million in 2010;
  • Full year 2011 product revenues increased 11% to $23.9 million compared to $21.4 million in 2010;
  • Full year service revenues increased 23% in 2011 to $7.7 million versus $6.3 million in 2010;
  • Recurring revenues for the full year increased 12% versus 2010;
  • Company completes the year with $4.2 million in cash and no long-term debt.

Michael Wellesley-Wesley, Chyron President and Chief Executive Officer, commented, “We are pleased with the results of the fourth quarter and the full year. While 2011 represented the fourth consecutive year of challenging economic conditions, we achieved solid double-digit revenue growth for both the fourth quarter and the full year.

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