Lingo Media Reports 2014 First Quarter Results

Lingo Media Reports 2014 First Quarter Results  TORONTO, ONTARIO -- (Marketwired) -- 05/27/14 --   Lingo Media Corporation (TSX VENTURE: LM) (OTCBB: LMDCF) ("Lingo Media" or the "Company"), an ESL industry acquisition company that is 'Changing the way the world learns English', announces its financial results for the first quarter ended March 31, 2014. All figures are reported in Canadian Dollars, and are in accordance with International Financial Reporting Standards unless otherwise noted.  Operational Highlights        --  Print-Based English Language Learning:      --  completed renewal of co-publishing agreements for additional seven         years for PEP Primary English and Starting Line programs with         People's Education Press and Peoples Education Electronic &         Audiovisual Press, China's State Ministry of Education's publishing         arm  --  Online English Language Learning:      --  launched the redesigned ELL Technologies' suite of products         including Scholar, Business, Master and Kids which incorporate the         new user interface, learning management system and the multi-browser         delivery system for desktops and tablets  Financial Highlights for the First Quarter Ended March 31, 2014        ----------------------------------------------------------------------- ----- First Quarter Ended March 31                            2014           2013  ---------------------------------------------------------------------------- Revenue                                        $     236,051  $     137,754  ---------------------------------------------------------------------------- Operating expenses                                   275,444        351,609  ---------------------------------------------------------------------------- Amortization, share-based payments and                                        depreciation                                        133,150        120,315  ---------------------------------------------------------------------------- Finance charges, taxes and foreign exchange         (119,677)        42,853  ---------------------------------------------------------------------------- Total expenses                                       288,917        514,777  ---------------------------------------------------------------------------- Net loss                                             (52,866)      (377,023) ---------------------------------------------------------------------------- Total comprehensive loss                            (181,565)      (398,951) ----------------------------------------------------------------------------   --  Revenue for the first quarter ended March 31, 2014 totalled $236,051     compared to $137,754 for the same period in 2013.   --  Operating expenses for Q1 2014 totalled $275,444 as compared to $351,609     for Q1 2013.  --  Net loss for the first quarter ended March 31, 2014 was $52,866 compared     to a net loss of $377,023 for the first quarter ended March 31, 2013.     This reduction in net loss is primarily attributable to an increase in     revenue of $98,297 and a reduction in operating expenses of $76,165 and     foreign exchange gain.  --  Total comprehensive loss for the first quarter of 2014 totalled $181,565     or $0.00 loss per share based on 21.4 million shares outstanding     compared to a total comprehensive loss for the first quarter of 2013 of     $398,951 or $0.02 loss per share based on 20.9 million shares     outstanding.   The unaudited financial statements for the quarter ended March 31, 2014 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. 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 Toll Free: (866) 927-7011 (416) 927-1222 (FAX)    
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