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For Immediate Release March 12 , 2021 NEWS RELEASE Value Line , Inc. 551 Fifth Avenue New York , NY 10176 Contact : Howard A. Brecher Value Line , Inc. 212-907-1500 www.valueline.com www.ValueLinePro.com , www.ValueLineLibrary.com Facebook | LinkedIn | Twitter Complimentary Value Line® Reports on Dow 30 Stocks Value Line , Inc. Announces Third Quarter Earnings New York ( Globe Newswire ) quarter ended January 31 , 2021 . Value Line , Inc. , ( NASDAQ : VALU ) reported earnings for the third fiscal During the nine months ended January 31 , 2021 , the Company's net income of $ 16,202,000 , or $ 1.69 per share , was 26.1 % above net income of $ 12,853,000 , or $ 1.33 per share , for the nine months ended January 31 , 2020. The largest factors in the increase in net income during the nine months ended January 31 , 2021 , compared to the prior fiscal year , were an increase in copyright fees , an increase from revenues and profits interests in EAM Trust , and an increase in realized capital gains on sales of securities available for sale . During the three months ended January 31 , 2021 , the Company's net income of $ 6,029,000 , or $ 0.63 per share , was 21.7 % above net income of $ 4,952,000 , or $ 0.51 per share , for the three months ended January 31 , 2020 . Shareholders ' equity reached $ 63,569,000 at January 31 , 2021 , an increase of 18.7 % over the shareholders ' equity of $ 53,539,000 at April 30 , 2020. Retained earnings at January 31 , 2021 , were $ 66,604,000 , representing an increase of 18 % over the figure at April 30 , 2020. The Company's liquid assets at January 31 , 2021 , were $ 39,699,000 , a 16.2 % increase over liquid assets at April 30 , 2020 . During the nine months ended January 31 , 2021 , there were 9,604,869 average common shares outstanding as compared to 9,652,805 average common shares outstanding during the nine months ended January 31 , 2020 . 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 . Shareholders may receive a printed copy , free of charge upon request . 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 , ETFs and Options . Value Line's acclaimed research also enables the Company to provide specialized products such as Value Line Select , Value Line Special Situations , Value Line Select : ETFs , Value Line Select : Dividend Income & 1