NEW YORK, July 16 /PRNewswire-FirstCall/ -- (NASDAQ:VALU) On July 16, 2009 the Board of Directors of Value Line, Inc. declared a quarterly dividend of $0.20 per share to shareholders of record as of July 30, 2009 to be paid on August 13, 2009. This is a $0.10 per share, 33% reduction from the previous quarterly dividend. Value Line, Inc., reported results for its fiscal year ended April 30, 2009. For the twelve months ended April 30, 2009 the Company's net income of $22,953,000 or $2.30 per share was $2,597,000 or 10% below net income of $25,550,000 or $2.56 per share for the twelve months ended April 30, 2008. Operating income of $24,223,000 for the twelve months ended April 30, 2009 was $10,227,000 or 30% below operating income of $34,450,000 last fiscal year. The sharp decline in operating income was partially offset by the Company's income from securities transactions, which at $11,625,000 for the twelve months ended April 30, 2009, was $5,331,000 or 85% above last year's level of $6,294,000. The increase in income from securities transactions was a result of management's decision to sell the entire equity portfolio in the second quarter of fiscal year 2009. The Company redeployed the proceeds from the equity portfolio into short-term fixed income investments or cash equivalents and as a result does not anticipate significant income from securities transactions during fiscal 2010. Shareholders' equity of $80,869,000 at April 30, 2009 was 8% lower than shareholders' equity of $87,854,000 at April 30, 2008. The decline in earnings occurred primarily during the third and fourth quarters of our fiscal year ended April 30, 2009 as the economy and financial markets declined. Net income for the fourth quarter ended April 30, 2009 was $3,617,000 or 24% less than the net income of $4,777,000 for the fourth quarter ended April 30, 2008. 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 has copyright data, which it distributes under copyright agreements for fees including certain proprietary ranking system information and other proprietary information used in third party products, 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 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. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to the following: -- dependence on key personnel; -- maintaining revenue from subscriptions for the Company's products; -- protection of intellectual property rights; -- changes in market and economic conditions; -- 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; -- dependence on Value Line Funds for investment management and related fees; -- competition in the fields of publishing, copyright data and investment management; -- the impact of government regulation on the Company's business and the uncertainties of litigation and regulatory proceedings; -- terrorist attacks; 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, 2009, 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 Condensed Summary of Financial Results (in thousands, except per share amounts) For the three months For the twelve months ended April 30, ended April 30, --------------- --------------- 2009 2008 2009 2008 ---- ---- ---- ---- Revenues $14,845 $19,687 $69,241 $82,678 -------- ------- ------- ------- ------- Operating income $5,872 $6,732 $24,223 $34,450 ---------------- ------ ------ ------- ------- Income from securities transactions, net ($18) $611 $11,625 $6,294 -------------- ---- ---- ------- ------ Income before income taxes $5,854 $7,343 $35,848 $40,744 ------------- ------ ------ ------- ------- Net income $3,617 $4,777 $22,953 $25,550 ---------- ------ ------ ------- ------- Earnings per share, basic and fully diluted $0.36 $0.48 $2.30 $2.56 ------------- ----- ----- ----- ----- DATASOURCE: Value Line, Inc. CONTACT: David T. Henigson, Vice President, +1-212-907-1500

Copyright