NEW YORK, Dec. 13, 2021 (GLOBE NEWSWIRE) — Value Line, Inc., (NASDAQ: VALU) reported results through the second fiscal quarter ended October 31, 2021 and fiscal first half ended the same date.
During the six months (May 2021 through October 2021), the Company�s net income of $14,401,000, or $1.51 per share, was 41.3% above net income of $10,193,000, or $1.06 per share, for the six months ended October 31, 2020. During the six months ended October 31, 2021, the Companys income from operations of $5,002,000 was 13.3% above income from operations of $4,414,000 during the six months ended October 31, 2020. For the six months ended October 31, 2021, operating expenses decreased 6.1% compared to operating expenses during the six months ended October 31, 2020.
During the three months (August 2021 through October 2021), the Companys net income of $8,504,000, or $0.89 per share, was 72.9% above net income of $4,919,000, or $0.51 per share, for the three months ended October 31, 2020. During the three months ended October 31, 2021, the Companys income from operations of $2,737,000 was 25.1% above income from operations of $2,188,000 during the three months ended October 31, 2020. For the three months ended October 31, 2021, operating expenses decreased 9.8% compared to operating expenses during the three months ended October 31, 2020.
The largest factors in the increase in net income during the three and six months ended October 31, 2021, compared to the prior fiscal year, were a gain on forgiveness by the U.S. Small Business Administration of the Paycheck Protection Program loan, an increase from revenues and profits interests in EAM Trust, the entity that manages and distributes The Value Line Family of Mutual Funds, and well controlled expenses.
Shareholders equity reached $76,690,000 at October 31, 2021, an increase of 29.5% over the shareholders equity of $59,228,000 at October 31, 2020. Retained earnings at October 31, 2021, were $82,700,000, representing an increase of 30.2% over retained earnings at October 31, 2020. The Companys current assets at October 31, 2021, were $55,378,000, a 35% increase over current assets at October 31, 2020.
During the six months ended October 31, 2021, there were 9,557,333 average common shares outstanding as compared to 9,612,756 average common shares outstanding during the six months ended October 31, 2020, reflecting buybacks of shares under the Companys stock repurchase program.
The Companys quarterly report on Form 10-Q has been filed with the SEC and is available on the Companys 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 Lines 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 Lines 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:
Risk Factors of the Companys Annual Report on Form 10-K for the year ended April 30, 2021 and in Part II, Item 1A of the Quarterly Report on Form 10-Q for the period ended October 31, 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 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.
CONTACT: Contact: Howard A. Brecher Value Line, Inc. 212-907-1500 www.valueline.com www.ValueLinePro.com, www.ValueLineLibrary.com Facebook | LinkedIn | Twitter Complimentary Value Line® Reports on Dow 30 Stocks
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