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 


 
 
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First Quarter Ended March 31                            2014           2013 
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Revenue                                        $     236,051  $     137,754 
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Operating expenses                                   275,444        351,609 
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Amortization, share-based payments and                                      
 depreciation                                        133,150        120,315 
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Finance charges, taxes and foreign exchange         (119,677)        42,853 
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Total expenses                                       288,917        514,777 
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Net loss                                             (52,866)      (377,023)
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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 www.sedar.com. 
About Lingo Media (TSX VENTURE: LM) (OTCBB: LMDCF) 
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. 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 www.sedar.com or www.sec.gov/edgar.shtml.  
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)
mkraft@lingomedia.com
www.lingomedia.com
 
 
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