Value Line, Inc. Announces Third Quarter Earnings
14 March 2009 - 9:35AM
PR Newswire (US)
NEW YORK, March 13 /PRNewswire-FirstCall/ -- Value Line, Inc.,
(NASDAQ: VALU) reported results for its third fiscal quarter ended
January 31, 2009. For the nine months ended January 31, 2009 the
Company's net income of $19,336,000 or $1.94 per share was
$1,437,000 or 7% below net income of $20,773,000 or $2.08 per share
for the nine months ended January 31, 2008. Net income for the
three months ended January 31, 2009 of $3,732,000 or $0.38 per
share was $4,739,000 or 56% below net income of $8,471,000 or $0.85
per share for the third quarter of the prior fiscal year. Operating
income of $18,351,000 for the nine months ended January 31, 2009
was $9,367,000 or 34% below operating income of $27,718,000 last
fiscal year. Operating income of $4,620,000 for the three months
ended January 31, 2009 was $4,717,000 or 50% below operating income
of $9,337,000 for the third quarter of the prior fiscal year. The
Company's income from securities transactions of $11,643,000 for
the nine months ended January 31, 2009 was 105% above last year's
income of $5,683,000 due to the sale of the equity portfolio in the
second quarter of fiscal year 2009. Shareholders' equity of
$79,862,000 at January 31, 2009 was 7% lower than shareholders'
equity of $85,469,000 at January 31, 2008 due to the decline in the
value of marketable securities, which affects shareholders' equity.
From time to time, the Parent has purchased additional shares of
the Company in the 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. Value Line, Inc. is a leading New York based
publishing and investment management company. The Company believes
The Value Line Investment Survey is one of the most widely read
independent investment publications. Value Line also produces and
publishes other proprietary investment periodicals in both print
and electronic formats. The Company also licenses certain
proprietary information, and provides investment management
services to the Value Line family of no-load mutual funds and
institutional and individual portfolios. 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 the year ended April 30, 2008, 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) For the three months For the
nine months ended January 31, ended January 31, 2009 2008 2009 2008
Revenues $15,856 $21,080 $54,396 $62,991 Operating income $4,620
$9,337 $18,351 $27,718 Income from securities transactions, net
$927 $4,097 $11,643 $5,683 Income before income taxes $5,547
$13,434 $29,994 $33,401 Net income $3,732 $8,471 $19,336 $20,773
Earnings per share, basic and fully diluted $0.38 $0.85 $1.94 $2.08
DATASOURCE: Value Line, Inc. CONTACT: Company Contact: David T.
Henigson, Vice President, +1-212-907-1500
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