Lingo Media is teaching the world to speak English and
making investors sing happily in the process. The Company has announced an
astounding 441% increase in revenue, over the same period last year, for the
three months ended September 30, 2015. Revenue was $1,203,201 for the third
quarter compared to $222,468 for the same period in 2014. Operating expenses,
however, only rose by 69%, from $272,871 in 3Q 2014 to $462,455 in 3Q 2015.
Net profit for the quarter was $694,300 as compared to a net
loss of $(179,146) for the same period in 2014. And total comprehensive income
for the quarter was $631,730 or $0.023 earnings per share based on 27.4 million
shares. For 3Q 2014, there was a total comprehensive loss of $(255,659) or
$(0.012) loss per share based on 21.9 million shares. Income before
amortization, share-based payments, depreciation, finance charges and taxes was
$740,746 compared to the loss of $(50,403) in 2014.
“Q3-15 is the fourth consecutive profitable quarter for the
Company representing revenue growth of 441% and a significant increase in
profitability year-over-year for the quarter,” stated Michael Kraft, President
& CEO of Lingo Media. “It is noteworthy that the revenue and profit in this
quarter was almost entirely derived from the rapidly growing digital-learning
software division. The legacy text book publishing income is generated throughout
the year but is recorded seasonally in Q2 and Q4 as royalty revenues.”
Lingo Media is an EdTech (educational technology) company
that is ‘Changing the way the world learns English’. EdTech companies combine
information technologies with pedagogical insights to increase accessibility to
education and personalize the learning experience. Lingo Media offers courses
in English both over the internet and in traditional printed form through its
two distinct business units: ELL Technologies and Lingo Learning. ELL
Technologies is a global online English-language training company. Lingo
Learning is a print-based publisher of English-language learning programs in
China. Lingo Media has established a strong presence in China’s education
market of more than 300 million students by forming solid relationships with
key government and industry organizations. The Company continues its global
expansion with aggressive forays in Latin America.
As part of its strategy to penetrate the Latin American
market with its online services, in July of this year, Lingo Media negotiated a
contract under which students who complete ELL Technologies’ online English
language programs will be given Sistema Corporativo Proulex-Comlex (Proloux)
certification. Proloux is a subsidiary of the University of Guadalajara,
Mexico’s second largest university. In addition, the Company is launching an
advertising blitzkrieg in key Mexican cities. It has inked an agreement with
ISA Corporativo which manages advertising for Mexico City Airport and the subway
systems of Mexico City, Guadalajara and Monterrey.
The Company is also making inroads in Columbia. It has
secured software licensing contracts with the municipal government of Caldas
Department, Columbia. And it has been awarded a large government contract with
SENA, an organization under the Ministry of Labour of Colombia to build an
expansive library of digital English language learning resources and lessons.
Also the Company has been selected by the Peruvian Navy to provide software
licenses to ELL Technologies’ training products. As well as these Latin American
initiatives, the Company has been engaged in a broader-based program of
development. It has recently completed the development of ELL Technologies’
Winnie’s World, in HTML5 for the pre-kindergarten and the kindergarten market.
Traditional hard copy products have been equally successful.
The Company has been conducting extensive teacher training initiatives and
workshops. And it has passed an important milestone by co-publishing the 550
millionth unit of its basic English course with People’s Education Press in
China. People’s Education Press is the publishing arm of China’s Ministry of
Education. Lingo Media seems determined to establish the position of English as
today’s lingua franca.
For more information on the company, visit
www.lingomedia.com
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