(MENAFN- ProactiveInvestors)Lingo Media (CVE:LM; OTC:LMDCF) the tech company focused on education posted its fourth consecutive quarterly profit as it unveiled results for its third quarter for the three months to end September. Shares gained in morning trading. The firm also reported a 441% increase in revenue for the three months at C$1.2mln compared to C$222000 in the same period of 2014. Net income was a positive C$694000 compared to a loss of C$179000 a year ago. Operating expenses were C$462000 compared to C$272000 a year ago. Michael Kraft president a chief executive of the group which says it is "changing the way" the world learns English told investors: "It is noteworthy that the revenue and profit in this quarter was almost entirely derived from the rapidly growing digital-learning software division. "The legacy text book publishing income is generated throughout the year but is recorded seasonally in Q2 and Q4 as royalty revenues.' In line with its strategy the company has launched its ELL Technologies' suite of software products into the government educational institution and corporate markets. "While Latin America remains our initial market focus demand is emerging from other regions. "The company is pursuing strategic partnerships for global distribution as part of its plan as the EdTech market for English language learning continues to grow worldwide" said Kraft. In print based activity the period saw the group co-publish its 550 millionth unit of 'PEP Primary English and Starting Line' programs with People's Education Press in China. Other highlights included its selection by Peruvian Navy to provide software licenses to ELL Technologies' training products. In September this year it released its pre-school program 'Winnie's World' in HTML5 - the first title of its Kidsprogram and it has cross-platform multi-browser capability suitable for pre-readers as it does not need knowledge of the English language. Shares of the Toronto Ontario-based company added 4.41% in Toronto on Monday to stand at 71 canadian cents..
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