Value Line reported results for the fiscal year ended April 30, 2016. The company’s net income of $0.75 per share or $7,291,000, was $0.01 higher than net income for the twelve months ended April 30, 2015 of $0.74 per share.
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There were 9,781,495 average common shares outstanding as compared to 9,813,623 average common shares outstanding during the twelve months ended April 30, 2015.
Income from operations of $1,880,000 which included additional depreciation and amortization expense of $1,102,000 was $519,000 below income from operations of $2,399,000 for the twelve months ended April 30, 2015.
During the fourth quarter ended April 30, 2016, the Company’s reported a loss from operations of $462,000 that was primarily the result of accelerated amortization related to the cessation of software development for certain data galleries.
Value Line has been successful in growing revenues from digitally-delivered investment periodicals within the institutional market.
Institutional Sales generated total sales orders of $14,240,000 for the twelve months ended April 30, 2016 which were $915,000 or 6.9%, above comparable total sales orders for the twelve months ended April 30, 2015.
Retail sales orders of $9,075,000 increased $1,949,000 or 27.4% in fiscal 2016 as compared to fiscal 2015.
Shareholders’ equity of $34,600,000 at April 30, 2016 compares favorably to shareholders’ equity of $34,439,000 at April 30, 2015. As of April 30, 2016, retained earnings and liquid assets were $35,524,000 and $16,759,000, respectively.
Value Line announced that its board declared on July 14, 2016 a quarterly cash dividend of $0.17 per common share, payable on August 11, 2016, to stockholders of record on July 26, 2016. The company has 9,724,998 shares of common stock outstanding as of July 15, 2016.
The board also reaffirmed the Stock Repurchase Program of up to an aggregate of $3 million of Value Line’s common stock adopted on September 19, 2012, with $835 thousand remaining under the program as of July 15, 2016. ■