Lingo Media Corp. (LM.V, LM.OB) posted third-quarter net loss of C$1.1 million, wider than C$748 thousand in the same quarter last year. The company reported loss per share of C$0.08 for the quarter, same as last year.
Net loss for the quarter ended September 30, 2009 includes non-cash amortization expense of C$463 thousand and stock-based compensation expense of C$119 thousand.
Loss from continuing operations for the quarter was C$1.1 million or C$0.08 per share compared to a loss of $663 thousand or C$0.07 per share in the prior year period.
Third quarter revenue from continuing operations was C$184 thousand compared with C$32 thousand, a fivefold increase over same period last year as the company begin to recognize revenue from its Online English Language Learning segment.
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