VALUE LINE, INC. ANNOUNCES AN INCREASE IN ITS NET INCOME AND

For immediate release

PRESS RELEASE

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New York, March 16, 2022 (GLOBE NEWSWIRE) — Value Line, Inc., (NASDAQ: VALUE) published its results through the third fiscal quarter ended January 31, 2022.

Equity reached $79,401,000 as of January 31, 2022, an increase of 24.9% over equity of $63,569,000 as of January 31, 2021. Retained earnings as of January 31, 2022 were $86,216,000 , an increase of 27.7% over retained earnings as of January 31, 2021. January 31, 2021. The Company’s current assets as of January 31, 2022 were $61,114,000, an increase of 34.5% compared to current assets as of January 31, 2021.

In the nine months (May 2021 to January 2022), the Company’s net income of $20,015,000, or $2.10 per share, was $2,787,000 or 16.2% higher than the net income of $17,228,000, or $1.79 per share, for the nine months ended January 31, 2021. During the nine months ended January 31, 2022, the Company’s operating income of $7,877,000 was 1 $180,000 or 17.6% higher than operating income of $6,697,000 during the nine months ended January 31, 2021. For the nine months ended January 31, 2022, operating expenses of $22,520,000 decreased by 6.1% from operating expenses in the nine months ended January 31, 2021. Additionally, due to better market conditions, the 2021 year-to-date included realized and unrealized gains higher on equity securities of $2,427,000 before tax and $1,868,000 after tax.

The most significant contributors to the increase in net income for the nine months ended January 31, 2022, compared to the prior year, was a gain on the U.S. Small Business Administration’s forgiveness of the Protection Program Loan paychecks, increased revenue and interest earnings in EAM Trust, the entity that manages and distributes The Value Line family of mutual funds, and well-controlled expenses.

On March 14, 2022, the Board of Directors approved the renewal of the share repurchase program, with immediate effect, allowing the repurchase of shares from time to time, up to an aggregate amount of 2,000,000 $. The new buyback program, which replaces the July 2021 program, has no fixed price limit or expiration date.

“Based on the company’s current financial results, we believe that renewing the buyback program is in the best interests of our shareholders,” said Howard A. Brecher, the company’s chairman and chief executive officer.

During the nine months ended January 31, 2022, there were 9,551,418 average common shares outstanding, compared to 9,604,869 average common shares outstanding during the nine months ended January 31, 2021, reflecting share repurchases under the Company’s share buyback program. The Company had 9,522,163 common shares outstanding as of March 11, 2022.

The Company’s Quarterly Report on Form 10-Q has been filed with the SEC and is available on the Company’s website at https://www.valueline.com/About/InvestorRelation.aspx. Shareholders can receive a printed copy free of charge upon request.

Value Line, Inc. is a leading New York-based investment research provider. The Value Line Investing 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 print and digital formats, including research in the areas of mutual funds, ETFs and options. Value Line’s acclaimed research also enables the company to provide specialty products such as Value Line Select, Value Line Special Situations, Value Line Select: ETFs, Value Line Select: Dividend Income & Growth, The new Value Line ETFs service, The Value Line M & A Service, The Value Line Information you need to know Wealth Newsletter, Value Line Climate Change Investment Service and certain Copyright Value Line, distributed under agreements, including certain proprietary filing system information and other proprietary information used in third-party products. Investment advisory services are provided through its significant non-voting interests in EULAV Asset Management, the investment advisor to The Value Line family of mutual funds. Value Line products are available to individual investors by mail at www.valueline.com or by calling 1-800-VALUELINE or 1-800-825-8354, while institutional-level services for professional investors, advisors, corporate, academic and municipal libraries are offered at www.ValueLinePro.com, www.ValueLineLibrary.com and by calling 1-800-531-1425.

Caution Regarding Forward-Looking Information

In this report, “Value Line”, “we”, “us”, “our” refers to Value Line, Inc. and “the Company” refers to Value Line and its subsidiaries, unless the context otherwise requires. .

This report contains statements that are predictive in nature, dependent on or refer to future events or conditions (including certain business projections and trends) accompanied by expressions such as “believe”, “estimate”, “expect ”, “anticipate”, “will”, “intend” and other similar or negative expressions, which are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995, as amended. The Company’s actual results may differ materially from those projected due to certain risks and uncertainties, including, but not limited to, the following:

  • maintain revenue from subscriptions to the Company’s digital and print published products;
  • changes in investment trends and economic conditions, including global financial issues;
  • protect the intellectual property rights on the Company’s methods and brands;
  • protect confidential information, including customer confidential or personal information that we may possess;
  • reliance on non-voting income and non-voting profit interests from EULAV Asset Management, a Delaware statutory trust (“EAM” or “EAM Trust”), which serves as investment advisor to the Value Line funds and handles distribution, marketing and administrative services;
  • fluctuations in EAM’s and third-party copyright assets under management due to general changes in the value of equity and debt securities, investor redemptions and other factors;
  • possible changes in the valuation of EAM’s intangible assets from time to time;
  • generate future revenue or collect receivables from major customers;
  • reliance on key executive and specialist personnel;
  • risks associated with outsourcing certain functions, technical facilities and operations, including in some cases outside the United States;
  • competition in publishing, copyright and investment management, and the related effects on the level and structure of prices and fees, and the range of services provided;
  • the impact of government regulation on the business of the Company and EAM;
  • availability of free or low-cost investment data through discount brokers or generally on the Internet;
  • military conflicts, civil unrest and disruptions associated with travel and supply and other effects;
  • Russia’s invasion of Ukraine and its impact on inflation;
  • terrorist attacks, cyberattacks and natural disasters;
  • the inadequacy of our business continuity plans or systems in the event of an anticipated or unforeseeable disruption;
  • the coronavirus pandemic, which has significantly affected markets, employment and other economic conditions, and may have unpredictable additional impacts on employees, suppliers, customers and operations;
  • other possible epidemics;
  • changes in the prices of materials and other inputs and services, such as freight and postage, required by the Company;
  • other risks and uncertainties, including but not limited to the risks described in point 1A,

“Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended April 30, 2021 and in Part II, Item 1A of this Quarterly Report on Form 10-Q for the period ended January 31, 2022 ; and other risks and uncertainties arising from time to time.

These factors are not necessarily all 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 have no control or changes in our plans, strategies, objectives, expectations or intentions, which may occur at any time at our discretion, could also have material adverse effects on future results. . Except as otherwise required by applicable law, we have no obligation 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 the forward-looking information contained herein.