NEW YORK, Sept. 14, 2022 (GLOBE NEWSWIRE) -- Value Line, Inc., (NASDAQ: VALU) reported results for the first fiscal quarter ended July 31, 2022.
During the three months ended July 31, 2022, the Company’s income from operations of $2,556,000 was 12.8% above income from operations of $2,265,000 during the three months ended July 31, 2021. For the three months ended July 31, 2022, operating expenses decreased 6.5% below those during the three months ended July 31, 2021. During the three months ended July 31, 2022, the Company’s net income of $4,458,000, or $0.47 per share, was 24.4% below net income of $5,897,000, or $0.62 per share, for the three months ended July 31, 2021 primarily because of the difference in unrealized investment gains/losses.
Retained earnings at July 31, 2022, were $89,734,000, representing an increase of 2.4% over retained earnings at April 30, 2022. The Company’s liquid assets at July 31, 2022, were $58,530,000, a 1.2% increase over liquid assets at April 30, 2022. Shareholders’ equity reached $79,357,000 at July 31, 2022, a slight decrease from the shareholders’ equity of $79,645,000 at April 30, 2022, reflecting the Company’s repurchases of shares.
During the three months ended July 31, 2022, there were 9,484,109 average common shares outstanding as compared to 9,560,009 average common shares outstanding during the three months ended July 31, 2021, also reflecting the Company’s repurchases of shares.
The Company’s quarterly report on Form 10-Q has been filed with the SEC and is available on the Company’s website at https://www.valueline.com/About/InvestorRelation.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
In this report, “Value Line,” “we,” “us,” “our” refers to Value Line, Inc. and “the Company” refers to Value Line and its subsidiaries unless the context otherwise requires.
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 the Company may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to the following:
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 by applicable law, 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.
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Contact: Howard A. Brecher Value Line, Inc. 212-907-1500