Lingo Media Reports 2011 Fourth Quarter and Year End Results
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 04/30/12 -- Lingo Media Corporation (TSX VENTURE: LM)(OTCBB: LMDCF) ("Lingo Media" or the "Company"), a leader in online and print-based English language learning solutions, announces its financial results for the fourth quarter and year ended December 31, 2011. All figures are reported in Canadian Dollars, and are in accordance with International Financial Reporting Standards unless otherwise noted.
"We have improved our operations in 2011 and achieved a small increase in our revenues and an 18% reduction in our operating expenses". In the fourth quarter, this reduction in operating expenses was more than 50% over same period in the prior year, said Michael Kraft, President & CEO of Lingo Media. "2011 was an important year for us to complete product enhancements and advance new product development initiatives to address market needs and opportunities. Concurrently, we entered into several strategic distribution agreements that have enabled us to expand our sales pipeline. We are confident that we will convert our strong pipeline into firm sales contracts over the balance of 2012. We are committed to increasing our revenues and will continue looking at acquiring additional ESL assets and assessing corporate M&A opportunities."
Operational Highlights
Corporate Highlights
Financial Highlights for the Fourth Quarter Ended December 31, 2011
Financial Highlights for the Year Ended December 31, 2011
The audited financial statements for the year ended December 31, 2011 and Management Discussion & Analysis are available at .
About Lingo Media (TSX VENTURE: LM)(OTCBB: LMDCF)
Lingo Media Corporation () is an ESL industry acquisition company that is Changing the way the world learns English, focused on English language learning ("ELL") on an international scale through its four distinct business units: ELL Technologies; Parlo; Speak2Me; and Lingo Learning. ELL Technologies is a globally-established ELL multi-media and online training company marketed under the Q Group brand (). Parlo is a fee-based online ELL training and assessment service (). Speak2Me is a free-to-consumer advertising-based online ELL service in China (). Lingo Learning is a print-based publisher of ELL programs in China. Lingo Media has formed successful relationships with key government and industry organizations, establishing a strong presence in China's education market of more than 300 million students. The Company continues to expand its ELL offerings and is extending its reach globally.
Portions of this press release may include "forward-looking statements" within the meaning of securities laws. Forward-looking statements contained in this press release are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and involve certain risks and uncertainties. Actual results may vary materially from management's expectations and projections and thus readers should not place undue reliance on forward-looking statements. Certain factors that can affect the Company's ability to achieve projected results are described in the Company's filings with the Canadian and United States securities regulators available on or .
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Contacts:
Lingo Media
Michael Kraft
President & CEO
(416) 927-7000 Ext. 23 or Toll Free: (866) 927-7011
(416) 927-1222 (FAX)
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Datum: 30.04.2012 - 19:07 Uhr
Sprache: Deutsch
News-ID 1108792
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Kategorie:
Education Aids and Products
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