VALUE LINE, INC. ANNOUNCES FISCAL YEAR 2023 EARNINGS

NEW YORK, July 28, 2023 (GLOBE NEWSWIRE) -- Value Line, Inc., (NASDAQ: VALU) reported results for the fiscal year ended April 30, 2023. During the twelve months ended April 30, 2023, the Company’s income from operations of $11,470,000 was 6.2% above income from operations of $10,800,000 during the twelve months ended April 30, 2022. For the twelve months ended April 30, 2023, operating expenses decreased 5.0% below those during the twelve months ended April 30, 2022.

Total dividends declared during fiscal year 2023 were $1.03 per share; the Company declared a quarterly dividend of $0.28 per share or $1.12 per year beginning with the May 2023 payment.

Ongoing revenue in the digital-publishing arena has been supported by record-setting sales results for the twelve-month period on the part of the company’s business-to-business sales team.

Retained earnings at April 30, 2023, were $95,979,000, an increase of 10.0% compared to retained earnings at April 30, 2022. The Company’s liquid assets at April 30, 2023, were $62,064,000, a 7.0% increase from liquid assets at April 30, 2022. Shareholders’ equity reached $83,673,000 at April 30, 2023, an increase of 5.0% from the shareholders’ equity of $79,645,000 as of April 30, 2022.

During the twelve months ended April 30, 2023, the Company’s net income of $18,069,000, or $1.91 per share, compared to net income of $23,822,000, or $2.50 per share, for the twelve months ended April 30, 2022 primarily because last fiscal year results included a gain of $2,331,000 from the tax-free forgiveness of the SBA’s PPP loan to the Company and because of a decline of $6,910,000 for the twelve months in passive income from the Company’s investment in EAM Trust as well as a change in unrealized investment gains/(losses) primarily from equity securities.

During the three months ended April 30, 2023, the Company’s net income of $4,033,000, or $0.43 per share, was 5.9% above net income of $3,807,000, or $0.40 per share, for the three months ended April 30, 2022. For the three months ended April 30, 2023, operating expenses decreased 3.4% below those during the three months ended April 30, 2022. During the three months ended April 30, 2023, the Company’s income from operations of $2,757,000 was 5.7% below income from operations of $2,923,000 during the three months ended April 30, 2022.