Lingo Media Corp. (OTCQB: LMDCF) (TSX-V: LM) is on a mission
to change the way the world learns English, and its unique combination of
education and technology is helping it promote rapid growth in a variety of
viable global markets. In recent weeks, the company, through wholly-owned
subsidiary ELL Technologies Ltd., has secured contracts with a government
agency in Colombia and the Peruvian Navy to provide its proprietary English
language training products moving forward. These partnerships, in addition to
the company’s established foothold in the Mexican educational market, are
expected to play a key role in Lingo’s ongoing expansion efforts throughout
Latin America.
“Our team continues to work diligently on developing,
refining and expanding our digital content library, program applications and
learning tools,” Gali Bar-Ziv, president and chief executive officer of ELL
Technologies, stated in a news release. “Securing another government contract
adds further recognition to our brand and our products as we continue to build
our sales pipeline… across Latin America.”
In the second quarter of 2015, Lingo capitalized on its
growing brand recognition by recording strong financial results. The company’s
total revenue for the period was just shy of $1.8 million, marking a
year-over-year increase of more than 100 percent. As a result, Lingo realized a
net profit of more than $979,000, up from $217,633 during the previous year.
This performance was attributable to the company’s ongoing shift from
print-based programs to digital learning tools. Leveraging a growth strategy
similar to that of educational technology giant Rosetta Stone, Inc. (NYSE:
RST), Lingo is in a favorable position to continue promoting strong growth in
Latin America and around the globe.
Last week, Lingo set the stage for future growth through the
release of its pre-school program Winnie’s World. The inaugural title of its
Kids program, Winnie’s World was created for pre-readers, as it doesn’t require
any prior knowledge of the English language. By providing an interactive,
cross-platform program with which students can practice and perfect their
English without a native instructor, Lingo is addressing a seriously
underserved area of the greater electronic learning industry.
“We recognize the lack of competition in this expansive
marketplace for proven pedagogically sound English software for preschoolers
and are now positioned to aggressively market and sell Winnie’s World to the
early childcare market,” Michael Kraft, president and chief executive officer
of Lingo, stated.
For prospective shareholders, Lingo’s comprehensive product
line – which fulfills the needs of the entire student life cycle – will serve
as a formidable platform upon which to continue expanding its share of the
global English learning market. Look for the company to build upon its recent
progress in Latin America as it continues to promote sustainable financial
growth.
For more information, visit www.lingomedia.com
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