Archive | August 14, 2013

Avid Confirms Delay in Filing Restated Financials

14 Aug

Avid has posted a NT 10-Q Notification Of Late Filing stating that the company is still in the process of restating its financial statements 2009-2011. While this will not result in a recalculation of total revenues it will result in a reclassification and this is just another example of the less than stellar management from this major player, which has resulted in several key executive firings & hirings — the replacement of CEO Garry Greenfield, CFO Ken Sexton, and Chief Accounting Officer Karl Johnson. In addition, the company’s reported annual revenues have been on the decline since 2007 ($926.6 M) down to $677.9M in 2011 (last reported.

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ChyronHego Reports Q1 Increased Revenue but Continued Net Loss

14 Aug

ChyronHego reported that total revenue in Q1 increased by 2% to $8.01M.  However the company continues to report a net loss of $0.95M.  It appears that any significant impact of the rebranding of Chyron with Hego is yet to be seen, in spite of eliminating a number of Chyron positions primarily in the US in May and staving off delisting threatened by Nasdaq recently . These results are in line with those reported earlier in May  — Chyron Cuts Staff After Posting Continued Q1 Loss.

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