By a News Reporter-Staff News Editor at Economics Week -- Value Line, Inc., (NASDAQ:VALU) reports results for the fiscal year ended April 30, 2014. On July 17, 2014, Company's Board of Directors declared a quarterly cash dividend of $0.15 per share of common stock, payable on August 12, 2014, to stockholders of record on July 31, 2014. The Company has 9,814,876 shares of common stock outstanding as of July 17, 2014.
During the twelve months ended April 30, 2014, the Company's net income of $6,768,000, or $0.69 per share, was $149,000 or 2.3% above net income of $6,619,000, or $0.67 per share, for the twelve months ended April 30, 2013. Total product circulation at April 30, 2014 has increased 6.7% from the prior year. The Institutional Sales division recorded $12,844,000 in gross sales, an increase of 7% over the previous year, establishing a new record. Income from operations of $2,501,000 for the twelve months ended April 30, 2014 included higher depreciation and amortization expense of $533,000 and one time overlapping rent expense of $771,000 for the previously occupied office facilities during the short term lease extension that ended September 15, 2013. Income from operations for the twelve months ended April 30, 2013 was $4,120,000. Income before income taxes of $10,178,000 for the twelve months ended April 30, 2014 compares to income before income taxes of $10,506,000 for the twelve months ended April 30, 2013. Income before income taxes for fiscal 2014 and 2013 is inclusive of the non-voting revenues and non-voting profits interests from EULAV Asset Management of $7,499,000 and $6,260,000, and depreciation and amortization expense of $2,085,000 and $1,552,000, respectively. The Company's cash inflows from operating activities increased almost 200% to $3,487,000 during the twelve months ended April 30, 2014, compared to cash inflows from operations of $1,168,000 during the twelve months ended April 30, 2013.
Shareholders' equity of $33,298,000 at April 30, 2014 compares favorably to shareholders' equity of $32,985,000 at April 30, 2013. As of April 30, 2014, retained earnings and liquid assets were $33,183,000 and $15,014,000, respectively.
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.
Keywords for this news article include: Economics, Value Line Inc, Investment and Finance.
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