– Value Line, Inc., (NASDAQ: VALU) reported results for the
second fiscal quarter ended October 31, 2018.
During the six months ended October 31, 2018,
the Company’s net income of $6,406,000, or $0.66 per share, was
$2,119,000 or 49.4% above net income of $4,287,000, or $0.44 per
share, for the six months ended October 31, 2017. Income from
operations of $3,030,000 during the six months ended October 31,
2018 was 53.6% above income from operations of $1,973,000 in the
corresponding period of fiscal 2018. During the three months
ended October 31, 2018, the Company’s net income of $3,302,000, or
$0.34 per share, was $1,230,000 or 59.4% above net income of
$2,072,000, or $0.21 per share, for the three months ended October
31, 2017. Income from operations of $1,760,000 during the
three months ended October 31, 2018 was 117.8% above income from
operations of $808,000 during the second quarter of fiscal
2018. During the three and six months ended October 31, 2018
operating expenses were kept under control and decreased $890,000
and $938,000, respectively, below those during the three and six
months ended October 31, 2017.
Shareholders’ equity of $46,400,000 at October
31, 2018, increased by $2,859,000 over shareholders’ equity of
$43,541,000 at April 30, 2018. As of October 31, 2018,
retained earnings and liquid assets were $47,626,000 and
$23,645,000, respectively. During the six months ended
October 31, 2018 there were 9,689,388 average common shares
outstanding as compared to 9,707,583 average common shares
outstanding during the six months ended October 31, 2017.
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 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 assets under management due to broadly
based changes in the values of equity and debt securities,
redemptions by investors and other factors, and the effect these
changes may have on the valuation of EAM’s intangible assets;
- 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, 2018; and in
Part II, Item 1A of the Quarterly Report on Form 10-Q for the
period ended October 31, 2018; 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.
Contact: Howard A. Brecher
Value Line, Inc.
(212) 907-1500
Value Line (NASDAQ:VALU)
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