NEW YORK, July 28, 2006 (PRIMEZONE) -- Value Line, Inc. (Nasdaq:VALU) reported results for its fiscal year ended April 30, 2006. Net income for the twelve months ended April 30, 2006 of $23,439,000 or $2.35 per share was $2,121,000 or 10% above net income of $21,318,000 or $2.14 per share in fiscal year 2005. Net income of $5,712,000 for the fourth quarter ended April 30, 2006 was 16% higher than net income of $4,922,000 for the last quarter of fiscal year 2005. Revenues for fiscal year 2006 were $85,186,000 compared to revenues of $84,478,000 for the prior fiscal year. Operating income of $35,180,000 for the twelve months ended April 30, 2006 was $8,096,000 above operating income of $27,084,000 last fiscal year, a 30% increase. Operating income of $9,510,000 for the three months ended April 30, 2006 was 11% higher than operating income of $8,534,000 for the comparable period of the last fiscal year.
Total assets of $119,214,000 at April 30, 2006 were up 21% over total assets of $98,865,000 at the fiscal year ended April 30, 2005. Shareholders' equity of $61,935,000 at April 30, 2006 was 40% higher than shareholders' equity of $44,143,000 at April 30, 2005.
Jean Bernhard Buttner, Value Line's Chairman and Chief Executive Officer said, "We are especially proud of our Company's mutual fund performance as well as the professionals who manage them. Once again our funds have outperformed the competition. In April 2006, The Wall Street Journal listed the Value Line Convertible Fund as a 'Best Performer' and included both the Value Line Fund and Value Line Leveraged Growth Investors (now known as Value Line Larger Companies Fund) as 'Category Kings'."
Value Line, Inc. is a leading New York based investment publishing and investment management company. Value Line believes The Value Line Investment Survey is one of the nation's largest independent investment publications. Value Line also produces and publishes other proprietary investment periodicals in both print and electronic formats, and licenses its 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.
From time to time, Value Line, Inc.'s Parent has purchased additional shares of Value Line, Inc. in the open market when and as the Parent has determined it to be appropriate. As stated several times in the past, the public is reminded that the Parent may make additional purchases from time to time in the future.
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 annual report 10-K, and other risks and uncertainties from time to time.
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)
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For the three months For the twelve months
ended April 30, ended April 30,
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2006 2005 2006 2005
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Revenues $21,728 $21,118 $85,186 $84,478
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Operating income $ 9,510 $ 8,534 $35,180 $27,084
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Income from securities
transactions, net $ 298 $ 245 $ 3,869 $ 8,278
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Income before income
taxes $ 9,808 $ 8,779 $39,049 $35,362
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Net income $ 5,712 $ 4,922 $23,439 $21,318
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Earnings per share,
basic and fully
diluted $ 0.57 $ 0.50 $ 2.35 $ 2.14
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