VALUE LINE, INC. ANNOUNCES HIGHER FISCAL YEAR 2024 EARNINGS

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[{"type":"text","content":"New York, July 26, 2024 (GLOBE NEWSWIRE) -- Value Line, Inc., (NASDAQ: VALU) reported results for the fiscal year ended April 30, 2024. During the twelve months ended April 30, 2024, the Company’s net income of $19,016,000, or $2.02 per share, was 5.2% above net income of $18,069,000, or $1.91 per share, for the twelve months ended April 30, 2023. The Company’s receipts of $13,282,000 from its non-voting revenues interest in EAM and non-voting profits interest in EAM increased $2,151,000 or 19.3% above the prior fiscal year. For the twelve months ended April 30, 2024, excluding restructuring costs related to outsourcing to two U.S. based companies of certain fulfillment and distribution operations, operating expenses decreased approximately 1.0% below those during the twelve months ended April 30, 2023. During the three months ended April 30, 2024, the Company’s net income of $4,784,000, or $0.51 per share, was 18.6% above net income of $4,033,000, or $0.43 per share, for the three months ended April 30, 2023. The Company’s revenues of $3,941,000 from its non-voting revenues interest in EAM and non-voting profits interest in EAM increased $1,326,000 or 50.7% above the prior fiscal year. Total dividends declared during fiscal year 2024 were $1.14 per share. In April 2024, the Company declared a quarterly dividend of $0.30 per share which represents the tenth consecutive year of increases for the 93-year old investment research icon. Based on a full year at the new rate, the new dividend level will be $1.20 per share. Based on the closing stock price April 30, 2024, the dividend yield was approximately 3.3%. Retained earnings at April 30, 2024, were $104,249,000, an increase of 8.6% compared to retained earnings at April 30, 2023. The Company’s liquid assets at April 30, 2024, were $68,345,000, a 10.1% increase from liquid assets at April 30, 2023. Shareholders’ equity reached $90,793,000 at April 30, 2024, an increase of 8.5% from the shareholders’ equity of $83,673,000 as of April 30, 2023. The Company’s annual report on Form 10-K has been filed with the SEC and is available on the Company’s website at www.valueline.com/About/corporate_filings.aspx. Shareholders may receive a printed copy, free of charge upon request to the Company at the address above, Attn: Corporate Secretary. Value Line, Inc. is a leading New York based prov...

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