NEW YORK, March 17, 2006 (PRIMEZONE) -- Value Line, Inc. (Nasdaq:VALU) reported results for its third fiscal quarter ended January 31, 2006. Operating income of $25,670,000 for the nine months ended January 31, 2006 was 38% above operating income of $18,550,000 for the same period of the last fiscal year. Operating income of $8,037,000 for the three months ended January 31, 2006 was 25% above operating income of $6,437,000 for the same period of last fiscal year. For the third quarter of fiscal 2006, income from securities of $2,858,000 was 159% above last fiscal year's third quarter income. For the nine months ended January 31, 2006, the Company's income from securities transactions was $3,571,000 compared to income from securities transactions of $8,033,000 for the same period of the last fiscal year. The first nine months of the prior fiscal year included capital gains that resulted from partial sales of the Company's equity securities in preparation for payment of a special dividend of $17.50 per common share during the first quarter of fiscal 2005.
Net income for the nine months ended January 31, 2006 of $17,727,000 or $1.78 per share was 8% above net income of $16,396,000 or $1.64 per share in fiscal 2005. Net income for the third quarter ended January 31, 2006 of $6,694,000 or $0.67 per share was 44% above net income of $4,657,000 or $0.46 per share in the third quarter of fiscal 2005.
Total assets of $112,292,000 were up 14% over total assets of $98,865,000 at the fiscal year ended April 30, 2005. Shareholders' equity of $57,683,000 at January 31, 2006 was 36% higher than shareholders' equity of $42,541,000 at January 31, 2005.
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 months For the nine months
ended January 31, ended January 31,
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2006 2005 2006 2005
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Revenues $21,582 $21,058 $63,458 $63,360
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Operating income $ 8,037 $ 6,437 $25,670 $18,550
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Income from securities
transactions, net $ 2,858 $ 1,104 $ 3,571 $ 8,033
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Income before income taxes $10,895 $ 7,541 $29,241 $26,583
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Net income $ 6,694 $ 4,657 $17,727 $16,396
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Earnings per share, basic
and fully diluted $ 0.67 $ 0.46 $ 1.78 $ 1.64
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