Lingo Media sees its 1Q revenue increase by 53% after expanding its general online course offerings

Lingo Media Corporation (CVE:LM) (OTCMKTS:LMDCF) (FRA:LIMA) has said it expects to see sales growth starting in the current quarter as it expands its online English language learning capabilities. The education company, which runs both online and print-based learning programs, reported a 53.4% increase in 1Q 2021 revenue of C$149,080 compared to $97,134 in the same period last year. During the three-month period to end March 31, 2021, Lingo added new sales personnel for the big markets of Latin America and Asia and boosted its pedagogical expertise internationally. The company also continued development on its new mobile app, Ola Learning, and launched new desktop learning platform Speak2Me. READ: Lingo Media sees its 2020 profit increase to C$1.1M on revenue of $2.1M On the print-based learning front, Lingo said it had expanded its existing market for PEP Primary English program into an additional Chinese province. The Toronto-based firm is hoping the moves will pay off in the form of revenue growth starting in 2Q. "During 1Q 2021, we added customers and expanded our general online course offerings,” Lingo CEO Gali Bar-Ziv said in a statement. “We are focused on expanding our eLearning revenues and have added experienced sales personnel to our team. With our expanded capabilities and feedback from satisfied clients and distributors, we expect sales growth in our current quarter and beyond.” The company's net loss for the first quarter came in at $416,677 or $0.01 per share compared to a net profit of $399,080 for 1Q 2020 or $0.01 earnings per share. Lingo said it received an Ontario Interactive Digital Media Tax Credit of $904,940 which was recorded as a reduction of selling, general and administrative expenses. Lingo Media provides both online and print-based solutions through two distinct business units: ELL Technologies and Lingo Learning.  ELL Technologies provides online training and assessment for language learning, while Lingo Learning is a print-based publisher of English language learning programs in China. Contact Angela at angela@proactiveinvestors.com Follow her on Twitter @AHarmantas