posted
Thought it might be time for a new topic on this one...my apologies if this is premature. However, their latest news on revenues and net income looks great and the stock has been on somewhat of a downtrend lately. Last time they released financial information, the PPS jumped to over $1.
Looks like a great bounce play, or even long term, however I am still doing DD. I welcome any comments and discussion. Here is what I have so far...Enjoy!
Today's news... Financials at the bottom may not draw correctly...
CYRO -- Chyron Corp. Com (1 Cent)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Chyron's Second Quarter 2006 Revenues Increase 48% and Net Income Increases Ten Fold over Prior Year's Comparable Quarter
MELVILLE, N.Y., Aug 09, 2006 (BUSINESS WIRE) -- Chyron Corporation (OTCBB: CYRO) announced that for its second quarter, the Company generated net income of $1.7 million on revenues of $8.6 million. For the first half of 2006 the Company reported net income of $1.2 million on revenues of $13.4 million. Second quarter revenues of $8.6 million were $2.8 million or 48 percent higher than the $5.8 million reported for the comparable prior year's quarter. The revenues included approximately $0.2 million in sales from the Company's ChyTV product line. Revenues of $13.4 million for the first six months were $1.6 million or 14 percent higher than the $11.8 million reported for the first six months of 2005.
The $1.7 million net income for the second quarter was the highest quarterly net income generated by the Company in nearly 10 years, and represented a significant improvement over the net loss of $0.2 million reported for the comparable prior year's quarter. For the first half of the year, the Company reported net income of $1.2 million, which compares to a $0.4 million net loss for the prior year's first half.
Gross margins for the second quarter were 67 percent compared to 65 percent in last year's comparable quarter, and for the first six months were 67 percent compared to 62 percent for the same period in 2005. The gross margin increases resulted from a combination of lower materials costs and product mix, with newer products providing higher average gross margins in 2006.
Operating expenses of $4.1 million for the second quarter were $0.2 million higher than the $3.9 million incurred in the second quarter of 2005, primarily due to increased spending on product development in both the broadcast graphics and ChyTV product lines. Operating expenses of $7.8 million for the first half were $0.2 million higher than the prior year's first half.
Michael Wellesley-Wesley, Chyron President and CEO, commented, "Our second quarter revenue growth and net income evidence strong year over year improvement as well as significant growth over the first quarter results. Although the second quarter benefited from orders that were delayed from the first quarter, the revenue turnaround was even stronger than I had expected and I am optimistic about the outlook for the remainder of the year. The revenue increase over the prior quarter was mainly due to strong domestic broadcast graphics systems sales. Domestic demand for these products continues at satisfactory levels and in the second half of 2006 I also expect a stronger performance in our international business as a result of new products we will showcase at the IBC tradeshow in Amsterdam in September."
"The strength in domestic demand for our broadcast graphics systems is particularly focused around our HyperX HD/SD switchable systems which offer our broadcast customers a highly flexible, scalable and cost effective migration path to high definition broadcasting. The transition to high definition television is a worldwide phenomenon with positive implication for Chyron's business. The gross margin improvement we experienced in the second quarter reflects this product mix as well as economies of scale derived from the higher sales volume. We will continue to seek out ways to increase the gross profit margin while maintaining tight control over operating expenses," added Mr. Wellesley-Wesley.
Operating profit of $1.7 million in the second quarter is after a $0.5 million operating loss by the Company's ChyTV product line. For the first half of the year, operating profit of $1.2 million is after a $0.8 million operating loss by the ChyTV product line.
Referencing ChyTV, Mr. Wellesley-Wesley commented, "I expect ChyTV revenues to grow in the second half of 2006 as we successfully win multi unit enterprise level opportunities. With the imminent rollout of ChyTV.net, we will be in a position to offer potential video and digital signage customers a full service, web based solution to distributing information and messaging across multiple locations."
At June 30, 2006 the Company had cash on hand of $2.1 million and working capital of $5.0 million. For the six months ended June 30, cash of $0.4 million was provided by operations, cash of $0.4 million was used by investing activities (primarily the purchase of a new major trade shows booth), and cash of $0.2 million was used in financing activities (primarily repayments on the Company's term loan). The Company achieved a positive shareholders' equity at June 30, 2006. The Company met its cumulative EBITDA financial covenant with its bank by a wide margin.
Webcast of Earnings Conference Call
Chyron Corporation management will host a conference call on Thursday, August 10, 2006, at 12:00 PM Eastern time, to review the quarter's results; this call will be broadcast live over the Internet simultaneously and may be accessed at www.chyron.com or www.earnings.com.
Web participants are encouraged to go to either website at least 15 minutes prior to the start of the call to register, download, and install any necessary audio software. The online archive will be available shortly after the conclusion of the call and continue for seven days.
Chyron Corporation
With unwavering clarity of vision, Chyron continues to define and dominate the world of broadcast graphics. Winner of numerous awards, including two Emmys, Chyron has proven itself as the undisputed leader in the industry. From the compact MicroX to the powerful HD/SD HyperX with Lyric PRO, Chyron's exceptional product line brings unmatched, 2D and 3D graphics creation and performance to the most demanding studio and mobile operations. Rounding out Chyron's broadcast systems are still and clip servers, channel branding and telestration systems, and CAMIO newsroom integration solutions. The ChyTV product line leverages Chyron's broadcast expertise with video graphics devices for microcasting and digital displays. Continually at the forefront of innovation, Chyron holds a patent on technology that enables the integration of live television graphics data with a broad range of interactive media platforms and consumer electronics devices. Chyron's unique, 40-year history of service and support for its products far exceeds that of most manufacturers. For more information about Chyron products and services, please visit the company web sites at www.chyron.com and www.chytv.com (OTC BB: CYRO).
Forward-looking Statement
From time to time, including in this press release, the Company may publish forward-looking statements relating to such matters as anticipated financial performance, business prospects, technological developments, changes in the industry, new products, research and development activities and similar matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company's actual results to differ materially from the anticipated results or other expectations expressed in the Company's forward-looking statements. The risks and uncertainties that may affect the operations, performance, development and results of the Company's business include, without limitation, the following: product concentration in a mature market, dependence on the emerging digital market and the industry's transition to DTV and HDTV, consumer acceptance of DTV and HDTV, resistance within the broadcast or cable industry to implement DTV and HDTV technology, use and improvement of the Internet, new technologies that could render certain Chyron products to be obsolete, a highly competitive environment, competitors with significantly greater financial resources, new product introductions by competitors, seasonality, fluctuations in quarterly operating results, ability to maintain adequate levels of working capital, the viability of the OTC Bulletin Board as a trading platform and expansion into new markets.
CHYRON CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except per share amounts)
Three Months Ended Six Months Ended June 30, June 30, 2006 2005 2006 2005 ----------------------------------
Net sales $8,581 $5,782 $13,424 $11,757 Gross profit 5,784 3,786 8,951 7,285 Operating expenses: Selling, general and administrative 3,162 3,216 5,929 6,217 Research and development 943 683 1,846 1,409 ---------------------------------- Total operating expenses 4,105 3,899 7,775 7,626 ---------------------------------- Operating income (loss) 1,679 (113) 1,176 (341) Interest and other income (expense), net 0 (56) (8) (104) ---------------------------------- Net income (loss) 1,679 (169) 1,168 (445)
Net income (loss) per common share - basic and diluted: $0.04 $(.00) $0.03 $(.01)
Weighted average number of common and common equivalent shares outstanding: Basic 41,401 41,343 41,390 41,336 Diluted 44,136 41,343 43,153 41,336
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Dollars in thousands)
June December 30, 2006 31, 2005 ------------------ Assets: Cash and cash equivalents $2,066 $2,331 Accounts receivable, net 6,111 4,613 Inventories, net 2,410 2,492 Other current assets 395 283 ------------------ Total current assets 10,982 9,719 Non-current assets 923 659 ------------------ Total assets $11,905 $10,378 ==================
Liabilities and shareholders' equity (deficit): Current liabilities $5,979 $6,255 Non-current liabilities 5,245 4,716 ------------------ Total liabilities 11,224 10,971 ------------------
Shareholders' equity (deficit) 681 (593) ------------------ Total liabilities and shareholders' equity (deficit) $11,905 $10,378 ==================
SOURCE: Chyron Corporation
CONTACT: Chyron Corporation Michael Wellesley-Wesley, 631-845-2000 or Jerry Kieliszak, 631-845-2000
Copyright Business Wire 2006
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KEYWORD: United States North America New York INDUSTRY KEYWORD: Technology Data Management Electronic Design Automation Software Other Technology Communications Other Communications SUBJECT CODE: Earnings Conference Call Webcast ============================================= ============================================= ============================================= =============================================
=============================================
CYRO -- Chyron Corp. Com (1 Cent)
Search for Dun & Bradstreet reports on this company.
Officers: Roger Henderson, President/CEO; Jerry Kieliszak, CFO
Outstanding Shares: 39,564,000 as of 2002-05-17
(~42,000,000 as of May 2006)
Estimated Market Cap: Not Available
Current Capital Change: shs decreased by 1 for 3 split Ex-Date: Record Date: Pay Date: 1997-02-10
Dividends:
Company Notes: Note=12-91 Court confirmed Plan of Arrangement under Chapter XI bankruptcy proceedings. Under plan each sh Com Chyron Corp. (Old) will be deemed to represent 1 sh Com Chyron (New) Formerly=Computer Exchange, Inc to 12-75
Class Notes: New Issue=3-68 140,000 shs in units (2 shs Com & 1 Warr) at $8.50 per unit by the company Latest Addt'l & Secondary Issue=5-81 750,000 shs at $12.75 by Bear, Stearns & Co. et al. Distribution=12-27-91 stockholders receive 1 Warr for each 2 shs Com held
Transfer Agent: Mellon Investor Services, Ridgefield Park, NJ 07660 American Stock Transfer & Trust Company, New York, NY 10038 ============================================== ============================================== ==============================================
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CYRO was a Peter Leeds pick about three years back.
Been watching this one for, maybe four years.
Fairly decent company, volume is just about right, bit of a slow mover, though. Certainly worth reader's time to look at this one.
CYRO is directly tied to the television business and sports channels. Television and broadcasting industry took a bad hit a few years back which impacted CYRO quite a bit; kept share prices around .40 to .45 for a long time.
posted
Thanks, Purl. I appreciate your opinion. I am going to continue my research on this, and I like what I see so far.
Although, I'm not sure if this is a good entry point looking at the 3-year chart. I'm wondering if it is going to start another leg up on the heels of today's after hours news on their earnings; or will it continue it's downtrend from the high of $1.23 in June; to down somewhere in the .60's maybe, before it turns up again? Time will tell, but this is definitely on my radar for a long term play...
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If you have not bought, my suggestion is to wait for prices to come back down.
This year, CYRO "wants" to be around .75 to .80 per share. This news you provided and today's upward spike will move this "want to be" range, maybe to .85 to .90 in the future.
Possible some nice buying dips will come about as traders begin profit taking over the next five to ten days. Prices might fall below actual new bottom support upon profit taking.
I agree, this is a long term play, possibly even an "investment" for profits in a year, in two years. CYRO is a decent company. Nothing wild will happen, but as our world economy begins to improve, CYRO bottom line should, as well.
For now, with brain dead Bush in office, I would not expect any decent improvements in economies for a year or two.
Final note is CYRO will lag behind the television and broadcast sector. CYRO is tied to the graphic arts part of news, sports, advertisement and such. If you monitor stocks related to those sectors, this will be an early indicator of what to expect from CYRO stock. CYRO software is mostly used for graphics on public news broadcasts, ABC, CBS, NBC, ESPN and affiliates, those types of broadcasters. Watch those and you also watch CYRO stock.
posted
Thanks for the advice, Purl. My thoughts exactly on the current price and where it might go in the next couple of weeks. I had a feeling the news would pop it up nicely today, that also told me that I should hang tight before I buy in (because I wasn't in already ). I'll watch for a good dip and may just jump in. Thanks again for your insight!
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posted
Held pretty strong today. up 2%. gonna keep it on radar for a while. If it dips back into the .70-.80 range I will probably grab some...
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Dutton Associates Announces Investment Opinion: Cryo-Cell Rating Speculative Buy In Initiating Coverage By Dutton Associates
EL DORADO HILLS, Calif.--(BUSINESS WIRE)--Jul 25, 2006 - Dutton Associates initiates coverage of Cryo-Cell International (OTCBB:CCEL), with a rating of Speculative Buy and a price target of $3.00. The 14-page report by JM Dutton senior analyst William R. Prather, R.Ph., M.D. is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and other leading financial portals.
We believe the common stock of Cyro-Cell International, Inc. (Cyro-Cell) is potentially a compelling investment, providing quality service in the growing, umbilical cord blood stem cell banking market. Additionally, we believe the value of Cyro-Cell is significantly undervalued when compared to ViaCell (NASDAQ:VIAC) whose subsidiary, ViaCord, represents almost the entire revenue for ViaCell and is considered by us to be a pure play along with Cyro-Cell in this industry. When the Company is able to prove to the investment community that they are able to capture their fair share of what we currently estimate to be a $350 million market, the market value of the Company should significantly appreciate.
About Dutton Associates
Dutton Associates is one of the largest independent investment research firms in the U.S. Its 31 senior analysts are primarily CFAs, and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 140 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.
The cost of enrollment in our one-year continuing research program is US $35,000 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $35,000 from the Company for 4 Research Reports with coverage commencing on 7/25/2006. The Firm does not accept any equity compensation. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.
Contact Dutton Associates John M. Dutton, 916-941-8119
-------------------- This is not a recommendation to buy or sell securities.
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posted
Touched over $1 again today, then held above .90 again, for another small percentage gain. Looks strong, sill waiting for my dip...
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(OTCBB: CYRO) Chyron continues to define and dominate the world of broadcast graphics. Winner of numerous awards, including two Emmys, Chyron has proven itself as the undisputed leader in the industry. From the compact MicroX to the powerful HD/SD HyperX with Lyric PRO, Chyron's exceptional product line brings unmatched, 2D and 3D graphics creation and performance to the most demanding studio and mobile operations. Rounding out Chyron's broadcast systems are still and clip servers, channel branding and telestration systems, and CAMIO newsroom integration solutions. The ChyTV product line leverages Chyron's broadcast expertise with video graphics devices for microcasting and digital displays. Continually at the forefront of innovation, Chyron holds a patent on technology that enables the integration of live television graphics data with a broad range of interactive media platforms and consumer electronics devices. Chyron's unique, 40-year history of service and support for its products far exceeds that of most manufacturers
-------------------- This is not a recommendation to buy or sell securities.
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posted
Purl Gurl...I didnt mean any harm...I was just telling u what I have been seeing on the Time and sales list on my computer..... Also there were some selll orders (as i said hardly) that i saw around 11 -12 am....
Anyway the stock ask went form 93 cents to 1.00 now....
-------------------- This is not a recommendation to buy or sell securities.
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posted
Well...Where do MM come in here??? I might not know how this buying and selling works... If anybody can explain me why "There cannot be a buy without a sell" I thought MM's do the buying and selling to us and we dont do it to each other....am i wrong?
-------------------- This is not a recommendation to buy or sell securities.
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posted
"If anybody can explain me why "There cannot be a buy without a sell" I thought MM's do the buying and selling to us and we dont do it to each other. am i wrong?"
Partially right would be more positive. :)
Much of our trading is with Market Makers. However, there are also trades effected through simple electronic trading which may or may not be at current Market Maker bid and ask; a mixture of Market Maker trades and private trades.
Market Makers only set current prices. Private traders make their own deals through electronic trading which often do not match Level II prices.
Market Makers adjust current prices according to trading activity passing over their desks. This trading activity is set by individual traders.
Trading is significantly more complex but what I write is the basic premise of trading.
posted
before_the_crowd, for a breakout to take place, volume needs to be higher and increasing along with high volatility of share price.
I noted at 10:27 PST bid and ask were equal, each at 0.96 per share. This is an early signal of volatility developing, but we cannot know if this will be upward or downward, not yet.
At 10:29 PST, bid and ask remain equal, 0.96 per.
For this to happen over several minutes, is a signal volume will remain level; not a lot of developing interest.
A breakout might happen, but signals are not present for this, not right now.
Be careful! The niceness of my writings is directly related to my mood. I am known to be extremely moody.
Currently, I am in a bad mood.
Additionally, you should not take the word of any single participant. None of us are always right. Research and reading, independently, is your best option.
posted
You will note bid and ask are now split on a half cent range, 0.955 / 0.96 per.
This is a signal trading will remain in a very tight range, probably for the day. When the "spread" comes down to half cent increments, this is traders squabbling over nothing; no "excited" traders.
Personally, I would expect prices to remain in the 0.93 to 0.96 range today, with more volume at 0.96 than any other price. A high of 0.98 seems about it. However, watch near the end of today's market. Should there be a fair amount of volume above 0.96, this is, maybe twenty-thousand to thirty-thousand shares at 0.97 to 0.99 per, chances are very good for a higher opening tomorrow and higher prices for the day tomorrow.
This is not guaranteed but is a reflection of typical behavior.
posted
Readers should not take my writing as "bashing" this stock. I am commenting on "right now" behavior of this stock.
Clearly my previous articles are very supportive. I like CYRO and this is a healthy company. My opinion is support for prices at 1.00 and above has not yet developed. Current prices seem just about right and in keeping with fundamentals. CYRO has made good progress over the past few years and I find no reason why CYRO will not continue to grow and improve.
This one seems a good long term value stock.
My strategy will be to wait for a buying dip in keeping with Skip up there. We are expecting a drop, maybe to the 0.80 to 0.85 per in the future once the dust settles over this recent 10Q release. Again, we could be wrong. Today's prices might be the low point for time to come.
quote:Originally posted by Purl Gurl: My strategy will be to wait for a buying dip in keeping with Skip up there. We are expecting a drop, maybe to the 0.80 to 0.85 per in the future once the dust settles over this recent 10Q release. Again, we could be wrong. Today's prices might be the low point for time to come.
Purl Gurl
Precisely! I would love a dip, but it does look very strong since the 10Q. Something tells me it will settle down though...but perhaps not...
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posted
Skip, the spread towards the end of today's market does signal a dip might be in the making. We should know within two days, maybe by Friday. A bit of downward pressure is building.
A opening price below 0.96 tomorrow morning would be another signal of a coming dip in prices. I am guessing an opening price around 0.92 / 0.93 per.
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). I'll watch for a good dip and may just jump in. Thanks again for your insight!
