Value Line, Inc. Announces Third Quarter Earnings

NEW YORK, March 13  /PRNewswire-FirstCall/ -- Value Line, Inc., (NASDAQ: VALU) reported results for its third fiscal quarter ended January 31, 2009. For the nine months ended January 31, 2009 the Company's net income of $19,336,000 or $1.94 per share was $1,437,000 or 7% below net income of $20,773,000 or $2.08 per share for the nine months ended January 31, 2008. Net income for the three months ended January 31, 2009 of $3,732,000 or $0.38 per share was $4,739,000 or 56% below net income of $8,471,000 or $0.85 per share for the third quarter of the prior fiscal year. Operating income of $18,351,000 for the nine months ended January 31, 2009 was $9,367,000 or 34% below operating income of $27,718,000 last fiscal year. Operating income of $4,620,000 for the three months ended January 31, 2009 was $4,717,000 or 50% below operating income of $9,337,000 for the third quarter of the prior fiscal year. The Company's income from securities transactions of $11,643,000 for the nine months ended January 31, 2009 was 105% above last year's income of $5,683,000 due to the sale of the equity portfolio in the second quarter of fiscal year 2009.  Shareholders' equity of $79,862,000 at January 31, 2009 was 7% lower than shareholders' equity of $85,469,000 at January 31, 2008 due to the decline in the value of marketable securities, which affects shareholders' equity.

From time to time, the Parent has purchased additional shares of the Company in the market when and as the Parent has determined it to be appropriate.  As stated several times in the past, the public is reminded that the Parent may make additional purchases from time to time in the future.

Value Line, Inc. is a leading New York based publishing and investment management company. The Company believes The Value Line Investment Survey is one of the most widely read independent investment publications.  Value Line also produces and publishes other proprietary investment periodicals in both print and electronic formats. The Company also licenses certain proprietary information, and provides investment management services to the Value Line family of no-load mutual funds and institutional and individual portfolios.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This report may contain statements (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.  Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to demand for and market acceptance of new and existing products; renewals of subscriptions for the Company's products; fluctuations in the Company's assets under management due to broadly based changes in the values of equity and debt securities, redemptions by investors and other factors; competitive product and pricing pressures; the impact of government regulation on the Company's business and the uncertainties of litigation and regulatory initiatives and inquiries; and 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, 2008, and other risks and uncertainties from time to time.

Any forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

                                  Value Line, Inc.
                     Consolidated Summary of Financial Results
                      (in thousands, except per share amounts)

                          For the three months        For the nine months
                            ended January 31,          ended January 31,
                            2009          2008         2009          2008
  Revenues               $15,856       $21,080      $54,396       $62,991
  Operating income        $4,620        $9,337      $18,351       $27,718
  Income from securities
   transactions, net        $927        $4,097      $11,643        $5,683
  Income before income
   taxes                  $5,547       $13,434      $29,994       $33,401
  Net income              $3,732        $8,471      $19,336       $20,773
  Earnings per share,
   basic and fully
   diluted                 $0.38         $0.85        $1.94         $2.08


DATASOURCE: Value Line, Inc.



CONTACT:  Company Contact: David T. Henigson, Vice President,

[phone]

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