Value Line, Inc., (NASDAQ: VALU) reported results for the first
fiscal quarter ended July 31, 2019.
During the three months ended July 31, 2019, the
Company’s income from operations of $2,025,000 was 59.4% above
income from operations of $1,270,000 during the three months ended
July 31, 2018. For the three months ended July 31, 2019,
operating expenses were well controlled and decreased 1.4% below
those during the three months ended July 31, 2018. During the
three months ended July 31, 2019, the Company’s net income of
$3,690,000, or $0.38 per share, was 18.9% above net income of
$3,104,000, or $0.32 per share, for the three months ended July 31,
2018. The largest factors in the increase in net income
during the three months ended July 31, 2019, compared to the prior
fiscal year were an increase in copyright fees, an increase from
revenues and profits interests in EAM Trust and well controlled
overall expenses.
Shareholders’ equity reached $49,276,000 at July
31, 2019, an increase of 3.7% over the shareholders’ equity of
$47,524,000 at April 30, 2019. As of July 31, 2019, and April
30, 2019, retained earnings were $50,356,000 and $48,598,000,
respectively, and liquid assets were $26,303,000 and $28,321,000,
respectively, with the change in liquid assets being explained by
the timing of certain cash receipts and an increase in investments
in dividend-paying equity ETFs.
During the three months ended July 31, 2019,
there were 9,660,631 average common shares outstanding as compared
to 9,689,442 average common shares outstanding during the three
months ended July 31, 2018.
The Company’s quarterly report on Form 10-Q has
been filed with the SEC and is available on the Company’s website
at www.valueline.com/About/corporate_filings.aspx. Shareholders may
receive a printed copy, free of charge upon request.
Value Line, Inc. is a leading New York based
provider of investment research. The Value Line Investment
Survey is one of the most widely used sources of
independent equity investment research. Value Line also publishes a
range of proprietary investment research in both print and digital
formats including research in the areas of Mutual Funds, ETFs and
Options. Value Line’s acclaimed research also enables the Company
to provide specialized products such as Value Line Select,
Value Line Special Situations, Value Line Select: Dividend Income
& Growth, Value Line Select: ETFs and certain
Value Line copyrights, distributed under
agreements including certain proprietary ranking system information
and other proprietary information used in third party products.
Investment Advisory services are provided through its substantial
non-voting interests in EULAV Asset Management, the investment
advisor to The Value Line Family of Mutual Funds. Value Line’s
products are available to individual investors by mail, at
www.valueline.com or through 1-800-VALUELINE or 1-800-825-8354,
while institutional-level services for professional investors,
advisers, corporate, academic, and municipal libraries are offered
at www.ValueLinePro.com, www.ValueLineLibrary.com and at
1-800-531-1425.
Cautionary Statement Regarding
Forward-Looking Information
This report contains statements that are
predictive in nature, depend upon or refer to future events or
conditions (including certain projections and business trends)
accompanied by such phrases as “believe”, “estimate”, “expect”,
“anticipate”, “will”, “intend” and other similar or negative
expressions, that are “forward-looking statements” as defined in
the Private Securities Litigation Reform Act of 1995, as
amended. Actual results for Value Line, Inc. (“Value Line” or
“the Company”) may differ materially from those projected as a
result of certain risks and uncertainties, including but not
limited to the following:
- maintaining revenue from
subscriptions for the Company’s digital and print published
products;
- changes in market and economic
conditions, including global financial issues;
- protection of intellectual property
rights;
- dependence on non-voting revenues
and non-voting profits interests in EULAV Asset Management, a
Delaware statutory trust (“EAM” or “EAM Trust”), which serves as
the investment advisor to the Value Line Funds and engages in
related distribution, marketing and administrative services;
- fluctuations in EAM’s and third
party copyright assets under management due to broadly based
changes in the values of equity and debt securities, redemptions by
investors and other factors;
- the valuation of EAM’s intangible
assets from time to time;
- generating future revenues or
collection of receivables from significant customers;
- dependence on key personnel;
- competition in the fields of
publishing, copyright and investment management;
- the impact of government regulation
on the Company’s and EAM’s businesses;
- availability of free or low cost
investment data through discount brokers or generally over the
internet;
- terrorist attacks, cyber attacks
and natural disasters;
- other risks and uncertainties,
including but not limited to the risks described in Item 1A, “Risk
Factors” of the Company’s Annual Report on Form 10-K for the year
ended April 30, 2019; and in Part II, Item 1A of the
Quarterly Report on Form 10-Q for the period ended July 31, 2019;
and
- other risks and uncertainties
arising from time to time.
These factors are not necessarily all of the
important factors that could cause actual results to differ
materially from those expressed in any of our forward-looking
statements. Other unknown or unpredictable factors which may
involve external factors over which we may have no control or
changes in our plans, strategies, objectives, expectations or
intentions, which may happen at any time at our discretion, could
also have material adverse effects on future results. Except as
otherwise required to be disclosed in periodic reports required to
be filed by public companies with the SEC pursuant to the SEC's
rules, we have no duty to update these statements, and we undertake
no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. In light of these risks and uncertainties, current
plans, anticipated actions, and future financial conditions and
results may differ from those expressed in any forward-looking
information contained herein.
www.valueline.comwww.ValueLinePro.com,
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Contact: Howard A. Brecher
Value Line, Inc.
(212) 907-1500
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