NEW YORK, Dec. 15, 2005 (PRIMEZONE) -- Value Line, Inc. (Nasdaq:VALU) reported results for its second fiscal quarter ended October 31, 2005. Operating income of $17,633,000 for the six months ended October 31, 2005 was 46% above operating income of $12,113,000 for the same period of the last fiscal year. Operating income of $8,470,000 for the three months ended October 31, 2005 was 44% above the operating income of $5,868,000 for the second quarter of the last fiscal year.
Net income for the six months ended October 31, 2005 of $11,033,000 or $1.11 per share was 6% below net income of $11,739,000 or $1.18 per share in fiscal 2005. Net income for the second quarter of fiscal 2006 of $5,385,000 was 7% below income of $5,798,000 for the comparable period of fiscal 2005. In both cases, the lower net income is due primarily to a decrease in income from securities transactions.
Total assets of $103,670,000 were up 5% over total assets of $98,865,000 at the fiscal year ended April 30, 2005. Shareholders' equity of $52,493,000 at October 31, 2005 was 35% higher than shareholders' equity of $39,025,000 at October 31, 2004.
About Value Line
Value Line is a leading New York based investment publishing and investment management company. The Company believes that The Value Line Investment Survey is the nation's largest independent investment publication. The Company also produces and publishes other proprietary investment periodicals in both print and electronic formats. Value Line provides investment management services to the Value Line family of no-load mutual funds and to institutional and individual portfolios through its asset management division. For a detailed description of products and services, please visit www.valueline.com for additional information.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This report contains statements (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. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to demand for and market acceptance of new and existing products; renewals of subscriptions for the Company's products; adaptation of the Company's products to new technologies; fluctuations in the Company's assets under management due to broadly based changes in the values of equity and debt securities, redemptions by investors and other factors; competitive product and pricing pressures; the impact of government regulation on the Company's business and the uncertainties of litigation and regulatory initiatives and inquiries; and other risks and uncertainties, including but not limited to those detailed from time to time in our SEC filings.
Any forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Value Line, Inc.
Consolidated Summary of Financial Results
(in thousands, except per share amounts)
For the three For the six
months months
ended October 31, ended October 31,
2005 2004 2005 2004
Revenues $21,002 $20,922 $41,876 $42,302
Operating income $8,470 $5,868 $17,633 $12,113
Income from securities
transactions, net $428 $3,569 $713 $6,929
Income before income taxes $8,898 $9,437 $18,346 $19,042
Net income $5,385 $5,798 $11,033 $11,739
Earnings per share, basic and
fully diluted $0.54 $0.58 $1.11 $1.18