New York
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01-09014
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11-2117385
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(State or Other Jurisdiction
of Incorporation)
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(Commission File Number)
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(I.R.S. Employer
Identification No.)
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5 Hub Drive
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Melville, New York
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11747
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(Address of Principal Executive Offices)
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(Zip Code)
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CHYRONHEGO CORPORATION
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||
By:
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/s/ Dawn Johnston
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Name:
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Dawn Johnston
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Title:
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Interim Chief Financial Officer
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Exhibit No.
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Description
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99.1
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Press Release, dated May 9, 2014.
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·
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Q1 2014 revenues increased 57% to $12.6 million compared to $8.0 million in Q1 2013;
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·
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Operating loss in Q1 2014 of $3.1 million compared to operating loss in Q1 2013 of $0.8 million;
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·
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Excluding a mark to market adjustment described below, operating loss in Q1 2014 would have been $0.6 million as compared to operating loss of $0.8 million in Q1 2013;
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·
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Net loss of $3.2 million in Q1 2014, as compared to a net loss of $0.9 million in Q1 2013;
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·
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Excluding the mark to market adjustment, net loss of $0.7 million in Q1 2014 compared to net loss of $0.9 million in Q1 2013.
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Three Months Ended
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||||||||
March 31,
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||||||||
2014
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2013
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|||||||
Product revenues
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$ | 5,781 | $ | 5,974 | ||||
Service revenues
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6,840 | 2,043 | ||||||
Total revenues
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12,621 | 8,017 | ||||||
Gross profit
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7,736 | 5,722 | ||||||
Operating expenses:
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||||||||
Selling, general and administrative
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6,111 | 4,751 | ||||||
Research and development
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2,178 | 1,780 | ||||||
Change in fair value of contingent consideration
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2,556 | - | ||||||
Total operating expenses
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10,845 | 6,531 | ||||||
Operating loss
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(3,109 | ) | (809 | ) | ||||
Interest and other income (expense), net
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(196 | ) | (97 | ) | ||||
Loss before taxes
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(3,305 | ) | (906 | ) | ||||
Income tax (expense) benefit, net
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88 | (11 | ) | |||||
Net loss
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(3,217 | ) | (917 | ) | ||||
Less: Net income attributable to non-controlling interests
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25 | - | ||||||
Net loss attributable to ChyronHego shareholders
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$ | (3,242 | ) | $ | (917 | ) | ||
Net loss per common share attributable to ChyronHego
shareholders -
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||||||||
Basic
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$ | (0.10 | ) | $ | (0.05 | ) | ||
Diluted
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$ | (0.10 | ) | $ | (0.05 | ) | ||
Weighted average number of common and
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||||||||
common equivalent shares outstanding:
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||||||||
Basic
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31,118 | 17,362 | ||||||
Diluted
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31,118 | 17,362 |
March 31,
|
December 31,
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|||||||
2014
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2013
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|||||||
Assets:
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||||||||
Cash and cash equivalents
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$ | 3,988 | $ | 5,266 | ||||
Accounts receivable, net
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9,009 | 7,781 | ||||||
Inventories, net
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2,747 | 2,816 | ||||||
Other current assets
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2,226 | 2,525 | ||||||
Total current assets
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17,970 | 18,388 | ||||||
Goodwill and intangible assets, net
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27,585 | 27,916 | ||||||
Other non-current assets
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4,427 | 4,348 | ||||||
Total assets
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$ | 49,982 | $ | 50,652 | ||||
Liabilities and shareholders' equity:
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||||||||
Current liabilities
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$ | 16,004 | $ | 17,152 | ||||
Non-current liabilities
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13,852 | 18,033 | ||||||
Total liabilities
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29,856 | 35,185 | ||||||
Shareholders' equity
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20,126 | 15,467 | ||||||
Total liabilities and shareholders' equity
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$ | 49,982 | $ | 50,652 |
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