NEW YORK, March 16, 2007 (PRIME NEWSWIRE) -- Value Line, Inc. (Nasdaq:VALU) reported results for its third fiscal quarter ended January 31, 2007. Net income for the nine months ended January 31, 2007 of $19,372,000 or $1.94 per share was $1,645,000 or 9% above net income of $17,727,000 or $1.78 per share in fiscal year 2006. Net income for the third quarter ended January 31, 2007 of $7,192,000 or $0.72 per share was $498,000 or 7% above net income of $6,694,000 or $0.67 per share in fiscal year 2006. Operating income of $27,789,000 for the nine months ended January 31, 2007 was $2,119,000 or 8% above operating income of $25,670,000 last fiscal year. Operating income of $8,859,000 for the three months ended January 31, 2007 was 10% above operating income of $8,037,000 for the comparable period last fiscal year. The Company's income from securities transactions of $4,147,000 for the first nine months of fiscal 2007 was 16% above last year's. Total assets of $123,947,000 at January 31, 2007 were up 10% over total assets of $112,292,000 at January 31, 2006. Shareholders' equity of $72,030,000 at January 31, 2007 was 25% higher than shareholders' equity of $57,683,000 at January 31, 2006.
Value Line, Inc. is a leading New York-based publishing and investment management company. The Value Line Investment Survey is one of the best known independent investment publications. Value Line also produces and publishes other proprietary investment periodicals in both print and electronic formats. The Company also licenses some proprietary information, and provides investment management services to the Value Line family of no-load mutual funds and institutional and individual portfolios through its asset management division. For a detailed description of products and services, please visit www.valueline.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This report may contain 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; 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 the risks described in Item 1A, "Risk Factors" of the Company's Annual report on form 10-K for year ended April 30, 2006, and other risks and uncertainties from time to time.
Value Line, Inc.
Consolidated Summary of Financial Results
(in thousands, except per share amounts)
For the 3 months For the 9 months
ended January 31, ended January 31,
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2007 2006 2007 2006
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Revenues $21,061 $21,582 $63,197 $63,458
Operating income $8,859 $8,037 $27,789 $25,670
Income from securities
transactions, net $2,909 $2,858 $4,147 $3,571
Income before income taxes $11,768 $10,895 $31,936 $29,241
Net income $7,192 $6,694 $19,372 $17,727
Earnings per share,
basic and fully diluted $0.72 $0.67 $1.94 $1.78