Value Line, Inc. Announces Second Quarter Earnings

  Value Line, Inc. Announces Second Quarter Earnings

Business Wire

NEW YORK -- December 12, 2013

Value Line, Inc., (NASDAQ:VALU) reported results for the second fiscal quarter
ended October 31, 2013. The Company’s quarterly report on Form 10-Q has been
filed with the SEC and is available on the Company’s website at
www.valueline.com/About/corporate_filings.aspx.

During the second quarter ended October 31, 2013, the Company’s net income of
$1,616,000, or $0.16 per share was $44,000 or 2.8% above net income of
$1,572,000, or $0.16 per share, for the second quarter ended October 31, 2012.
For the six months ended October 31, 2013, the Company’s net income of
$3,061,000, or $0.31 per share was $287,000 or $0.03, respectively, below net
income of $3,348,000, or $0.34 per share, for the six months ended October 31,
2012. Income from operations of $1,115,000 for the six months ended October
31, 2013 included additional depreciation and amortization expense of $229,000
and short term overlapping rent expense of $771,000 for the previously
occupied office facilities during the lease extension that ended September 15,
2013. Income from operations for the six months ended October 31, 2012 was
$2,272,000. Income before income taxes of $4,810,000 and $5,330,000 for the
six months ended October 31, 2013 and October 31, 2012, respectively, is
inclusive of the non-voting revenues and non-voting profits interests from
EULAV Asset Management (“EAM”) of $3,623,000 and $3,002,000, and depreciation
and amortization expense of $985,000 and $756,000, respectively.

Shareholders’ equity of $32,783,000 at October 31, 2013 compared favorably to
shareholders’ equity of $32,690,000 at October 31, 2012. As of October 31,
2013, retained earnings were $32,422,000 and liquid assets were $11,861,000.

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, Options and Convertible securities.
Value Line’s acclaimed research also enables the Company to provide
specialized products such as Value Line Select, Value Line Special Situations,
Value Line Dividend Select, and copyright data, distributed under copyright
agreements for fees, including certain proprietary ranking system information
and other proprietary information used in third party products. Investment
Management services are provided through its substantial non-controlling and
non-voting interests in EULAV Asset Management, the investment adviser to The
Value Line Family of Mutual Funds. Value Line’s products are available to
individual investors by mail, at www.valueline.com or through 1-800-VALUELINE
or 1-800-535-9648, while institutional-level services for professional
investors, advisers, corporate, academic, municipal and legal libraries are
offered at www.ValueLinePro.com and at 1-800-531-1425.

Cautionary Statement Regarding Forward-Looking Information

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 Value
Line, Inc. (“Value Line” or “the Company”) 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 digital and print
    published products;
  *protection of intellectual property rights;
  *changes in market and economic conditions, including global financial
    issues;
  *dependence on non-voting revenues and non-voting profits interests in
    EULAV Asset Management, a Delaware statutory trust (“EAM” or “EAM Trust”),
    which serves as the investment advisor to the Value Line Funds and engages
    in related distribution, marketing and administrative services;
  *fluctuations in EAM’s assets under management due to broadly based changes
    in the values of equity and debt securities, redemptions by investors and
    other factors, and the effect these changes may have on the valuation of
    EAM’s intangible assets;
  *competition in the fields of publishing, copyright data and investment
    management;
  *the impact of government regulation on the Company’s and EAM’s businesses;
  *availability of free or low cost investment data through discount brokers
    or generally over the internet;
  *terrorist attacks, cyber security attacks and natural disasters;
  *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, 2013 and in Part II, Item 1A of the
    Quarterly Report on Form 10-Q for the period ended October 31, 2013; 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 to be disclosed in periodic reports
required to be filed by public companies with the SEC pursuant to the SEC's
rules, 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:

Value Line, Inc.
Howard A. Brecher, 212-907-1500
www.valueline.com
www.ValueLinePro.com
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