Lingo Media Corporation USA (PINK:LMDCF), a leader in online and print-based English language learning solutions, declares its financial results for the Q4 and year closed December 31, 2011. All statistics are reported in Canadian Dollars, and are in line with International Financial Reporting Standards unless otherwise noted.
The company announced that revenue for the year closed December 31, 2011 summed $2.07 million, a rise of 4% against $1.99 million for the similar period in 2010. Revenue rose from Lingo Learning’s print-based royalty revenue segment.
Lingo Media stated that overall comprehensive loss for 2011 was $4.63 million or $0.25 per share based on 20.5 million shares outstanding against an overall comprehensive loss of $3.39 million or $0.26 per share based on 13.3 million shares outstanding as at December 31, 2010.
The intensification in loss was considerably impacted by management’s judgment to write-down the value of its software and web development asset by $703,600.
Operating costs for the year closed December 31, 2011 summed $2.48 million as compared to $3.02 million in 2010.
Lingo Media Corporation (www.lingomedia.com) 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 (www.elltechnologies.com). Parlo is a fee-based online ELL training and assessment service (www.parlo.com).
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