Value Line, Inc., (NASDAQ: VALU) reported results for the fiscal
year ended April 30, 2021.
During the twelve months ended April 30, 2021,
the Company’s net income of $23,280,000, or $2.43 per share, was
55.8% above net income of $14,943,000, or $1.55 per share, for the
twelve months ended April 30, 2020. Earnings for the fiscal year
ended April 30, 2020 were revised, as were earnings for the fiscal
year ended April 30, 2019, to reflect the required adoption of FASB
ASU 2016-01 effective for the fiscal year beginning May 1, 2018 and
ending April 30, 2019. This change transferred unrealized gains and
losses on equity securities to earnings, from comprehensive income.
Shareholders’ equity remains unchanged for each of the fiscal years
ended April 30, 2019 and 2020. The largest factors in the increase
in net income during the twelve months ended April 30, 2021,
compared to the prior fiscal year, were an increase from revenues
and profits interests in EAM Trust and an increase in realized
capital gains on sales of equity securities.
During the three months ended April 30, 2021,
the Company’s net income of $6,051,000, or $0.64 per share, was
234.9% above net income of $1,807,000, or $0.19 per share, for the
three months ended April 30, 2020.
Shareholders’ equity reached $67,013,000 at
April 30, 2021, an increase of 25.2% over the shareholders’ equity
of $53,539,000 at April 30, 2020. Retained earnings at April 30,
2021, were $72,502,000, representing an increase of 26.4% over the
year-earlier figure. The Company’s liquid assets at April 30, 2021,
were $45,353,000, a 32.8% increase over liquid assets at April 30,
2020. Total dividends declared during fiscal year 2021 were 85
cents per share.
During the twelve months ended April 30, 2021,
there were 9,596,912 average common shares outstanding as compared
to 9,646,885 average common shares outstanding during the twelve
months ended April 30, 2020.
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, ETFs and
Options. Value Line’s acclaimed research also enables the Company
to provide specialized products such as Value Line Select,
Value Line Special Situations, Value Line Select: ETFs, Value Line
Select: Dividend Income & Growth, The New Value Line ETFs
Service, The Value Line M & A Service, The Value Line
Information You Should Know Wealth Newsletter, Value Line Climate
Change Investing Service and certain Value Line
copyrights, distributed under agreements including certain
proprietary ranking system information and other proprietary
information used in third party products. Investment Advisory
services are provided through its substantial 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 by calling
1-800-VALUELINE or 1-800-825-8354, while institutional-level
services for professional investors, advisers, corporate, academic,
and municipal libraries are offered at www.ValueLinePro.com,
www.ValueLineLibrary.com and by calling 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;
- protecting 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 and third party copyright assets under
management due to broadly based changes in the values of equity and
debt securities, redemptions by investors and other factors;
- possible changes in the valuation of EAM’s intangible assets
from time to time;
- generating future revenues or collection of receivables from
significant customers;
- dependence on key personnel;
- competition in the fields of publishing, copyright and
investment management, along with associated effects on the level
and structure of prices and fees, and the mix of services
delivered;
- 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 attacks and natural disasters;
- the coronavirus pandemic, which has drastically affected
markets, employment, and other economic conditions, and may have
additional unpredictable impacts on employees, suppliers,
customers, and operations;
- other possible epidemics;
- changes in prices of materials and other inputs required by the
Company;
- 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, 2021; 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.
Contact: Howard A. Brecher
Value Line, Inc.
212-907-1500
www.valueline.com
www.ValueLinePro.com, www.ValueLineLibrary.com
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