Value Line, Inc. Announces Earnings and a Quarterly Cash Dividend of $0.15 Per Common Share

NEW YORK--()--Value Line, Inc., (NASDAQ:VALU) reports results for the fiscal year ended April 30, 2014. On July 17, 2014, Company’s Board of Directors declared a quarterly cash dividend of $0.15 per share of common stock, payable on August 12, 2014, to stockholders of record on July 31, 2014. The Company has 9,814,876 shares of common stock outstanding as of July 17, 2014.

During the twelve months ended April 30, 2014, the Company’s net income of $6,768,000, or $0.69 per share, was $149,000 or 2.3% above net income of $6,619,000, or $0.67 per share, for the twelve months ended April 30, 2013. Total product circulation at April 30, 2014 has increased 6.7% from the prior year. The Institutional Sales division recorded $12,844,000 in gross sales, an increase of 7% over the previous year, establishing a new record. Income from operations of $2,501,000 for the twelve months ended April 30, 2014 included higher depreciation and amortization expense of $533,000 and one time overlapping rent expense of $771,000 for the previously occupied office facilities during the short term lease extension that ended September 15, 2013. Income from operations for the twelve months ended April 30, 2013 was $4,120,000. Income before income taxes of $10,178,000 for the twelve months ended April 30, 2014 compares to income before income taxes of $10,506,000 for the twelve months ended April 30, 2013. Income before income taxes for fiscal 2014 and 2013 is inclusive of the non-voting revenues and non-voting profits interests from EULAV Asset Management of $7,499,000 and $6,260,000, and depreciation and amortization expense of $2,085,000 and $1,552,000, respectively. The Company’s cash inflows from operating activities increased almost 200% to $3,487,000 during the twelve months ended April 30, 2014, compared to cash inflows from operations of $1,168,000 during the twelve months ended April 30, 2013.

Shareholders’ equity of $33,298,000 at April 30, 2014 compares favorably to shareholders’ equity of $32,985,000 at April 30, 2013. As of April 30, 2014, retained earnings and liquid assets were $33,183,000 and $15,014,000, respectively.

The Company’s annual report on Form 10-K 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, Options and Convertible securities. Value Line’s acclaimed research also enables the Company to provide specialized products such as Value Line Select, Value Line Special Situations, Value Line Dividend Select, and copyright data, distributed under copyright agreements for fees, including certain proprietary ranking system information and other proprietary information used in third party products. Investment Management services are provided through its substantial non-controlling and 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 1-800-535-9648, while institutional-level services for professional investors, advisers, corporate, academic, municipal and legal libraries are offered at www.ValueLinePro.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;
  • dependence on key personnel;
  • competition in the fields of publishing, copyright data 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 security 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, 2014; 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.

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