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Lingo Media strengthens educational offering and distribution in China in a busy 3Q

Year-to-date, Lingo is seeing higher revenue figures and running a profit, with total revenue of C$1,143,288 and net profit of C$500,803

Lingo Media Corporation -
Lingo is developing a new mobile application to boost its technology offering

Lingo Media Corporation (CVE:LM) (OTCQB:LMDCF) (FRA:LIMA), the education technology company, has been busy developing its offering and expanding its distribution in its third quarter. 

The Toronto-based company signed a new distributor in its core market of China and boosted its content for both Pre-A1 and Pre-A levels, according to financial results released over the weekend. 

Total revenue for the quarter came in at C$68,775, compared to C$117,545 in the same year-ago quarter. 

READ: Lingo Media sees 2Q revenue and profit increase as educators adapt to online learning

Year-to-date, Lingo is seeing higher revenue figures and running a profit, with total revenue of C$1,143,288 compared to C$1,124,714 at the same point last year. The company is seeing a net profit of C$500,803 versus the loss of C$226,053 over the same period a year prior.

During the three-month period to end September 30, 2020, Lingo started developing a new achievement test and continued to work on its new mobile application. The group also gave teachers access to its library of nearly 1,800 hours of learning to be assigned to students.

On the print-based learning side, Lingo is working on a series of “how-to” training videos for teachers in China to use Lingo Learning’s books more effectively, it said in a statement.

The company offers both online and print-based solutions through two distinct business units: ELL Technologies, which provides online training and assessment for language learning, and Lingo Learning, a print-based publisher of English language learning programs in China.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

Quick facts: Lingo Media Corporation

Price: 0.075 CAD

TSX-V:LM
Market: TSX-V
Market Cap: $2.66 m
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