Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Apr. 30, 2022 | Jun. 30, 2022 | Oct. 29, 2021 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0000717720 | ||
Entity Registrant Name | VALUE LINE INC | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --04-30 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2022 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Apr. 30, 2022 | ||
Document Transition Report | false | ||
Entity File Number | 0-11306 | ||
Entity Incorporation, State or Country Code | NY | ||
Entity Tax Identification Number | 13-3139843 | ||
Entity Address, Address Line One | 551 Fifth Avenue | ||
Entity Address, City or Town | New York | ||
Entity Address, State or Province | NY | ||
Entity Address, Postal Zip Code | 10176-0001 | ||
City Area Code | 212 | ||
Local Phone Number | 907-1500 | ||
Title of 12(b) Security | Common stock, $0.10 par value per share | ||
Trading Symbol | VALU | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 31,447,614 | ||
Entity Common Stock, Shares Outstanding | 9,474,814 | ||
Auditor Name | Horowitz & Ullmann, P.C. | ||
Auditor Location | New York, NY | ||
Auditor Firm ID | 921 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Apr. 30, 2022 | Apr. 30, 2021 |
Current Assets: | ||
Cash and cash equivalents (including short term investments of $28,965 and $18,209, respectively) | $ 29,703,000 | $ 19,171,000 |
Equity securities | 17,647,000 | 23,582,000 |
Available-for-sale Fixed Income securities | 10,475,000 | 2,600,000 |
Accounts receivable, net of allowance for doubtful accounts of $31 and $36, respectively | 1,677,000 | 3,985,000 |
Prepaid and refundable income taxes | 588,000 | 616,000 |
Prepaid expenses and other current assets | 1,248,000 | 1,282,000 |
Total current assets | 61,338,000 | 51,236,000 |
Long term assets: | ||
Investment in EAM Trust | 59,971,000 | 60,977,000 |
Restricted money market investments | 305,000 | 469,000 |
Property and equipment, net | 7,058,000 | 8,311,000 |
Capitalized software and other intangible assets, net | 71,000 | 143,000 |
Total long term assets | 67,405,000 | 69,900,000 |
Total assets | 128,743,000 | 121,136,000 |
Current Liabilities: | ||
Accounts payable and accrued liabilities | 1,314,000 | 2,077,000 |
Accrued salaries | 1,137,000 | 1,163,000 |
Dividends payable | 2,378,000 | 2,104,000 |
Accrued taxes on income | 2,000 | 0 |
Loan obligation-short term | 0 | 2,331,000 |
Operating lease obligation-short term | 1,239,000 | 1,087,000 |
Unearned revenue | 17,688,000 | 19,162,000 |
Total current liabilities | 23,758,000 | 27,924,000 |
Long term liabilities: | ||
Unearned revenue | 6,085,000 | 5,926,000 |
Operating lease obligation-long term | 6,129,000 | 7,368,000 |
Deferred income taxes | 13,126,000 | 12,905,000 |
Total long term liabilities | 25,340,000 | 26,199,000 |
Total liabilities | 49,098,000 | 54,123,000 |
Shareholders' Equity: | ||
Common stock, $0.10 par value; authorized 30,000,000 shares; issued 10,000,000 shares | 1,000,000 | 1,000,000 |
Additional paid-in capital | 991,000 | 991,000 |
Retained earnings | 87,645,000 | 72,502,000 |
Treasury stock, at cost (490,157 shares and 436,830 shares, respectively) | (9,967,000) | (7,483,000) |
Accumulated other comprehensive income, net of tax | (24,000) | 3,000 |
Total shareholders' equity | 79,645,000 | 67,013,000 |
Total liabilities and shareholders' equity | $ 128,743,000 | $ 121,136,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Apr. 30, 2022 | Apr. 30, 2021 |
Short term investments | $ 28,965 | $ 18,209 |
Allowance for doubtful accounts | $ 31 | $ 36 |
Common stock, par value (in dollars per share) | $ 0.10 | $ 0.10 |
Common stock, shares authorized (in shares) | 30,000,000 | 30,000,000 |
Common stock, shares issued (in shares) | 10,000,000 | 10,000,000 |
Treasury stock, shares (in shares) | 490,157 | 436,830 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) | 12 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2020 | |
Revenues: | |||
Revenues | $ 40,525,000 | $ 40,392,000 | $ 40,299,000 |
Expenses: | |||
Advertising and promotion | 3,223,000 | 3,745,000 | 3,350,000 |
Salaries and employee benefits | 17,323,000 | 18,865,000 | 18,189,000 |
Production and distribution | 5,003,000 | 5,440,000 | 4,945,000 |
Office and administration | 4,176,000 | 4,807,000 | 4,725,000 |
Total expenses | 29,725,000 | 32,857,000 | 31,209,000 |
Income from operations | 10,800,000 | 7,535,000 | 9,090,000 |
Gain on forgiveness of SBA loan | 2,331,000 | 0 | 0 |
Revenues interest in EAM Trust | 15,899,000 | 15,190,000 | 11,184,000 |
Profits interest in EAM Trust | 2,142,000 | 2,131,000 | 1,166,000 |
Investment gains/(losses) | (534,000) | 5,420,000 | (789,000) |
Income before income taxes | 30,638,000 | 30,276,000 | 20,651,000 |
Income tax provision | 6,816,000 | 6,996,000 | 5,708,000 |
Net income | $ 23,822,000 | $ 23,280,000 | $ 14,943,000 |
Earnings per share, basic & fully diluted (in dollars per share) | $ 2.50 | $ 2.43 | $ 1.55 |
Weighted average number of common shares (in shares) | 9,544,421 | 9,596,912 | 9,646,885 |
Subscription and Circulation [Member] | |||
Revenues: | |||
Revenues | $ 27,145,000 | $ 27,629,000 | $ 27,628,000 |
License [Member] | |||
Revenues: | |||
Revenues | $ 13,380,000 | $ 12,763,000 | $ 12,671,000 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2020 | |
Net income | $ 23,822 | $ 23,280 | $ 14,943 |
Other comprehensive income/(loss), net of tax: | |||
Change in unrealized gains on Fixed Income securities, net of taxes | (27) | (128) | 97 |
Other comprehensive income/(loss) | (27) | (128) | 97 |
Comprehensive income | $ 23,795 | $ 23,152 | $ 15,040 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2020 | |
Cash flows from operating activities: | |||
Net income | $ 23,822,000 | $ 23,280,000 | $ 14,943,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 1,336,000 | 1,293,000 | 266,000 |
Investment (gains)/losses | 1,402,000 | (4,710,000) | 1,414,000 |
Non-voting profits interest in EAM Trust | (2,142,000) | (2,131,000) | (1,166,000) |
Non-voting revenues interest in EAM Trust | (15,899,000) | (15,190,000) | (11,184,000) |
Revenues distribution received from EAM Trust | 16,608,000 | 13,907,000 | 10,588,000 |
Profits distributions received from EAM Trust | 2,439,000 | 1,602,000 | 1,222,000 |
Full forgiveness of SBA, PPP loan | (2,331,000) | 0 | 0 |
Deferred rent | (1,087,000) | (962,000) | 99,000 |
Deferred income taxes | (89,000) | 543,000 | 154,000 |
Changes in operating assets and liabilities: | |||
Unearned revenue | (1,315,000) | 350,000 | (745,000) |
Accounts payable & accrued expenses | (763,000) | 21,000 | (12,000) |
Accrued salaries | (26,000) | 18,000 | (66,000) |
Accrued taxes on income | 321,000 | (1,487,000) | 898,000 |
Prepaid and refundable income taxes | 28,000 | (616,000) | 254,000 |
Prepaid expenses and other current assets | 34,000 | 39,000 | 14,000 |
Accounts receivable | 2,308,000 | 453,000 | (2,934,000) |
Total adjustments | 824,000 | (6,870,000) | (1,198,000) |
Net cash provided by operating activities | 24,646,000 | 16,410,000 | 13,745,000 |
Cash flows from investing activities: | |||
Proceeds from sales of equity securities | 12,039,000 | 8,212,000 | 4,387,000 |
Purchases of equity securities | (7,508,000) | (12,958,000) | (9,302,000) |
Proceeds from sales of Fixed Income securities | 2,496,000 | 14,902,000 | 8,663,000 |
Purchases of Fixed Income securities | (10,405,000) | (2,597,000) | (12,403,000) |
Acquisition of property and equipment | (11,000) | (33,000) | (2,000) |
Expenditures for capitalized software | 0 | (145,000) | 0 |
Net cash provided by/(used in) investing activities | (3,389,000) | 7,381,000 | (8,657,000) |
Cash flows from financing activities: | |||
Purchase of treasury stock at cost | (2,484,000) | (1,526,000) | (1,214,000) |
Proceeds from SBA loan | 0 | 0 | 2,331,000 |
Receivable from clearing broker | 0 | 608,000 | (608,000) |
Payable to clearing broker | 0 | (588,000) | 588,000 |
Dividends paid | (8,405,000) | (8,068,000) | (7,724,000) |
Net cash used in financing activities | (10,889,000) | (9,574,000) | (6,627,000) |
Net change in cash and cash equivalents | 10,368,000 | 14,217,000 | (1,539,000) |
Cash, cash equivalents and restricted cash at beginning of year | 19,640,000 | 5,423,000 | 6,962,000 |
Cash, cash equivalents and restricted cash at end of year | $ 30,008,000 | $ 19,640,000 | $ 5,423,000 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total | ||
Balance (in shares) at Apr. 30, 2019 | 10,000,000 | (336,439) | ||||||
Balance at Apr. 30, 2019 | $ 1,000 | $ 991 | $ (4,743) | $ 50,242 | $ 34 | $ 47,524 | ||
Net income | 14,943 | 14,943 | ||||||
Change in unrealized gains on fixed Income securities, net of taxes | 97 | $ 97 | ||||||
Purchase of treasury stock (in shares) | (46,840) | (46,840) | ||||||
Purchase of treasury stock | $ (1,214) | $ (1,214) | ||||||
Dividends declared | [1] | (7,811) | (7,811) | |||||
Balance (in shares) at Apr. 30, 2020 | 10,000,000 | (383,279) | ||||||
Balance at Apr. 30, 2020 | $ 1,000 | 991 | $ (5,957) | 57,374 | 131 | 53,539 | ||
Net income | 23,280 | 23,280 | ||||||
Change in unrealized gains on fixed Income securities, net of taxes | (128) | $ (128) | ||||||
Purchase of treasury stock (in shares) | (53,551) | (53,551) | [2] | |||||
Purchase of treasury stock | $ (1,526) | $ (1,526) | [2] | |||||
Dividends declared | [1] | (8,152) | (8,152) | |||||
Balance (in shares) at Apr. 30, 2021 | 10,000,000 | (436,830) | ||||||
Balance at Apr. 30, 2021 | $ 1,000 | 991 | $ (7,483) | 72,502 | 3 | 67,013 | ||
Net income | 23,822 | 23,822 | ||||||
Change in unrealized gains on fixed Income securities, net of taxes | (27) | $ (27) | ||||||
Purchase of treasury stock (in shares) | (53,327) | (53,327) | [3] | |||||
Purchase of treasury stock | $ (2,484) | $ (2,484) | [3] | |||||
Dividends declared | [1] | (8,679) | (8,679) | |||||
Balance (in shares) at Apr. 30, 2022 | 10,000,000 | (490,157) | ||||||
Balance at Apr. 30, 2022 | $ 1,000 | $ 991 | $ (9,967) | $ 87,645 | $ (24) | $ 79,645 | ||
[1]Dividends declared per common share were $0.22 for the three months ending July 31, 2021.[2]Were acquired during the $2 million repurchase program authorized in April 2020.[3]Were acquired during the $2 million repurchase program authorized in July 2021 and the $2 million repurchase program authorized in March 2022. |
Note 1 - Organization and Summa
Note 1 - Organization and Summary of Significant Accounting Policies | 12 Months Ended |
Apr. 30, 2022 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | Note 1 Value Line, Inc. ("Value Line" or "VLI", and collectively with its subsidiaries, the “Company”) is incorporated in the State of New York. The name "Value Line" as used to describe the Company, its products, and its subsidiaries, is a registered trademark of the Company. The Company's core business is producing investment periodicals and their underlying research and making available certain Value Line copyrights, Value Line trademarks and Value Line Proprietary Ranks and other proprietary information, to third third December 23, 2010 ( Use of Estimates: The preparation of financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results may Principles of Consolidation: The Company follows the guidance in the Financial Accounting Standards Board's ("FASB") Topic 810 not not 5 In accordance with FASB's Topic 810, 323 810 not Revenue Recognition: Depending upon the product, subscription fulfillment for Value Line periodicals and related publications is available in print or digitally, via internet access. The length of a subscription varies by product and offer received by the subscriber. Generally, subscriptions are offered as annual subscriptions with the majority of subscriptions paid in advance. Subscription revenues, net of discounts, are recognized ratably on a straight line basis when the product is served to the client over the life of the subscription. Accordingly, the amount of subscription fees to be earned by fulfilling subscriptions after the date of the balance sheets are shown as unearned revenue within current and long-term liabilities. Copyright fees are derived from providing certain Value Line trademarks and the Value Line Proprietary Ranks to third third EAM earns investment management fees from the Value Line Funds. The management fees and average daily net assets for the Value Line Funds are calculated by State Street Bank, which serves as the fund accountant, fund administrator, and custodian of the Value Line Funds. The Value Line Funds are open-end management companies registered under the Investment Company Act of 1940 "1940 third Investment in Unconsolidated Entities: The Company accounts for its investment in its unconsolidated entity, EAM, using the equity method of accounting in accordance with FASB’s ASC 323. The Company’s “interests” in EAM, the investment adviser to and the sole member of the distributor of the Value Line Funds, consist of a "non-voting revenues interest" and a "non-voting profits interest" in EAM as defined in the EAM Trust Agreement. The non-voting revenues interest entitles the Company to receive a range of 41% to 55%, based on the amount of EAM’s adjusted gross revenues, excluding EULAV Securities' distribution revenues (“Revenues Interest”). The non-voting profits interest entitles the Company to receive 50% of EAM's profits, subject to certain limited adjustments as defined in the EAM Trust Agreement (“Profits Interest”). The Revenues Interest and at least 90% of the Profits Interest are to be distributed each quarter to all interest holders of EAM, including Value Line. The Company's Revenues Interest in EAM excludes participation in the service and distribution fees of EAM's subsidiary EULAV Securities. The Company reflects its non-voting revenues and non-voting profits interests in EAM as non-operating income under the equity method of accounting. Although the Company does not Recent Accounting Pronouncements: In December 2019, 2019 12, Topic740 May 1, 2021. not On June 21, 2018, 1992 Quill, no Valuation of Securities: The Company's securities classified as cash equivalents, equity securities and available-for-sale fixed income securities consist of shares of money market funds that invest primarily in short-term U.S. Government securities and investments in equities including ETFs and are valued in accordance with the requirements of the Fair Value Measurements Topic of the FASB's ASC 820. No. 2016 01 2016 01" The Company classifies its equity securities and available-for-sale fixed income securities as current assets to properly reflect its liquidity and to recognize the fact that it has liquid assets available-for-sale should the need arise. Market valuations of securities listed on a securities exchange and ETF shares are based on the closing sales prices on the last business day of each month. The market value of the Company's fixed maturity U.S. Government debt securities is determined utilizing publicly quoted market prices. Cash equivalents consist of investments in money market funds that invest primarily in U.S. Government securities valued in accordance with rule 2a 7 1940 The Fair Value Measurements Topic of FASB's ASC defines fair value as the price that the Company would receive upon selling an investment in a timely transaction to an independent buyer in the principal or most advantageous market for the investment. The Fair Value Measurements Topic established a three The three three Level 1 Level 2 Level 3 The following summarizes the levels of fair value measurements of the Company’s investments: As of April 30, 2022 ($ in thousands) Level 1 Level 2 Level 3 Total Cash equivalents $ 28,965 $ - $ - $ 28,965 Equity securities 17,647 - - 17,647 Available-for-sale fixed income securities 10,475 - - 10,475 $ 57,087 $ - $ - $ 57,087 As of April 30, 2021 ($ in thousands) Level 1 Level 2 Level 3 Total Cash equivalents $ 18,209 $ - $ - $ 18,209 Equity securities 23,582 - - 23,582 Available-for-sale fixed income securities 2,600 - - 2,600 $ 44,391 $ - $ - $ 44,391 The Company had no April 30, 2022 April 30, 2021, no 2 3 not Advertising expenses: The Company expenses advertising costs as incurred. Income Taxes: The Company computes its income tax provision in accordance with the Income Tax Topic of the FASB's ASC. Deferred tax liabilities and assets are recognized for the expected future tax consequences of events that have been reflected in the Consolidated Financial Statements. Deferred tax liabilities and assets are determined based on the differences between the book values and the tax bases of particular assets and liabilities, using tax rates currently in effect for the years in which the differences are expected to reverse. The Company adopted the provisions of ASU 2015 17, 740 The Income Tax Topic of the FASB's ASC establishes for all entities, a minimum threshold for financial statement recognition of the benefit of positions taken in filing tax returns (including whether an entity is taxable in a particular jurisdiction), and requires certain expanded tax disclosures. As of April 30, 2022, no Earnings per share: Earnings per share are based on the weighted average number of shares of common stock and common stock equivalents outstanding during each period. Any shares that are reacquired during the period are weighted for the portion of the period that they are outstanding. The Company does not Cash and Cash Equivalents: For purposes of the Consolidated Statements of Cash Flows, the Company considers all cash held at banks and short-term liquid investments with an original maturity of less than three April 30, 2022 April 30, 2021, |
Note 2 - Supplementary Cash Flo
Note 2 - Supplementary Cash Flows Information | 12 Months Ended |
Apr. 30, 2022 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | Note 2 Reconciliation of Cash, Cash Equivalents, and Restricted Cash: The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Statement of Cash Flows that sum to the total of the same such amounts shown in the Consolidated Statement of Cash Flows. Fiscal Years Ended April 30, ($ in thousands) 2022 2021 2020 Cash and cash equivalents $ 29,703 $ 19,171 $ 4,954 Restricted cash $ 305 $ 469 $ 469 Total cash, cash equivalents, and restricted cash shown in the Consolidated Statement of Cash Flows $ 30,008 $ 19,640 $ 5,423 Income Tax Payments: The Company made income tax payments as follows: Fiscal Years Ended April 30, ($ in thousands) 2022 2021 2020 State and local income tax payments $ 894 $ 1,406 $ 1,105 Federal income tax payments to the Parent $ 5,400 $ 7,154 $ 3,325 See Note 3 |
Note 3 - Related Party Transact
Note 3 - Related Party Transactions | 12 Months Ended |
Apr. 30, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 3 Investment Management (overview): The Company has substantial non-voting revenues and non-voting profits interests in EAM, the asset manager to the Value Line Mutual Funds. Accordingly, the Company does not Total assets in the Value Line Funds managed and/or distributed by EAM at April 30, 2022, April 30, 2021. The Company’s non-voting revenues and non-voting profits interests in EAM entitle it to receive quarterly distributions in a range of 41% to 55% of EAM’s revenues (excluding distribution revenues) from EAM’s mutual fund and separate account business and 50% of the residual profits of EAM (subject to temporary increase in certain limited circumstances). The Voting Profits Interest Holders will receive the other 50% of residual profits of EAM. Distribution is not fourth 2022 The non-voting revenues and 90% of the Company's non-voting profits interests due from EAM to the Company are payable each fiscal quarter under the provisions of the EAM Trust Agreement. The distributable amounts earned through the balance sheet date, which is included in the Investment in EAM Trust on the Consolidated Balance Sheets, and not April 30, 2022 April 30, 2021, EAM Trust - VLI's non-voting revenues and non-voting profits interests: The Company holds non-voting revenues and non-voting profits interests in EAM which entitle the Company to receive from EAM an amount ranging from 41% to 55% of EAM's investment management fee revenues from its mutual fund and separate accounts business. EAM currently has no Fiscal Years Ended April 30, ($ in thousands) 2022 2021 2020 Non-voting revenues interest in EAM $ 15,899 $ 15,190 $ 11,184 Non-voting profits interest in EAM 2,142 2,131 1,166 $ 18,041 $ 17,321 $ 12,350 Transactions with Parent: During the fiscal years ended April 30, 2022 April 30, 2021, April 30, 2022 April 30, 2021. The Company is a party to a tax-sharing arrangement with the Parent which allocates the tax liabilities of the two April 30, 2022, 2021, 2020, From time to time, the Parent has purchased additional shares of common stock of the Company in the market when and as the Parent has determined it to be appropriate. The Parent may April 30, 2022, |
Note 4 - Investments
Note 4 - Investments | 12 Months Ended |
Apr. 30, 2022 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 4 Investments held by the Company and its subsidiaries are classified as equity securities and available-for-sale fixed income securities in accordance with FASB's ASC 321, 320, twelve Equity Securities: Equity securities on the Consolidated Balance Sheets, consist of ETFs held for dividend yield that attempt to replicate the performance of certain equity indexes and ETFs that hold preferred shares primarily of financial institutions. As of April 30, 2022 April 30, 2021, 500 The carrying value and fair value of equity securities at April 30, 2022 ($ in thousands) Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value ETFs - equities $ 13,318 $ 4,348 $ (19 ) $ 17,647 The carrying value and fair value of equity securities at April 30, 2021 ($ in thousands) Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value ETFs - equities $ 19,105 $ 4,532 $ (55 ) $ 23,582 Government Debt Securities (Fixed Income Securities): Fixed income securities consist of securities issued by federal, state and local governments within the United States. Proceeds from maturities and sales of government debt securities classified as available-for-sale during the twelve April 30, 2022 April 30, 2021, April 30, 2022, April 30, 2021, The aggregate cost and fair value at April 30, 2022 Amortized Gross Unrealized ($ in thousands) Historical Cost Holding Losses Fair Value Maturity Due within 1 year $ 10,505 $ (30 ) $ 10,475 Total investment in government debt securities $ 10,505 $ (30 ) $ 10,475 The increase in gross unrealized losses of $34,000 on fixed income securities classified as available-for-sale net of deferred income tax benefit of $7,000, was included in Accumulated Other Comprehensive Income on the Consolidated Balance Sheet as of April 30, 2022. The aggregate cost and fair value at April 30, 2021 Amortized Gross Unrealized ($ in thousands) Historical Cost Holding Gains Fair Value Maturity Due within 1 year $ 2,596 $ 4 $ 2,600 Total investment in government debt securities $ 2,596 $ 4 $ 2,600 The decrease in gross unrealized gains of $173,000 on fixed income securities classified as available-for-sale net of deferred income taxes of $45,000, was included in Accumulated Other Comprehensive Income on the Consolidated Balance Sheet as of April 30, 2021. The average yield on the Government debt securities classified as available-for-sale at April 30, 2022 April 30, 2021 Investment Gains/(Losses): Investment gains/(losses) were comprised of the following: Fiscal Years Ended April 30, ($ in thousands) 2022 2021 2020 Dividend income $ 851 $ 573 $ 352 Interest income 18 137 279 Investment gains/(losses) recognized on sales of equity securities during the period (1,568 ) 835 (1,075 ) Unrealized gains/(losses) recognized on equity securities held at the end of the period 167 3,875 (339 ) Other (2 ) - (6 ) Total investment gains/(losses) $ (534 ) $ 5,420 $ (789 ) Proceeds from sales of equity securities during the twelve April 30, 2022 April 30, 2021 2022 2021, 2022 2021. Investment in Unconsolidated Entities: Equity Method Investment: As of April 30, 2022 April 30, 2021, The value of VLI’s investment in EAM at April 30, 2022 April 30, 2021 It is anticipated that EAM will have sufficient liquidity and earn enough profit to conduct its current and future operations so the management of EAM will not The Company monitors its Investment in EAM Trust for impairment to determine whether an event or change in circumstances has occurred that may not not 2022 2021. The components of EAM’s investment management operations, provided to the Company by EAM, were as follows: Fiscal Years Ended April 30, ($ in thousands) 2022 2021 2020 Investment management fees earned from the Value Line Funds, net of waivers shown below $ 29,598 $ 29,022 $ 21,985 12b-1 fees and other fees, net of waivers shown below $ 9,310 $ 9,604 $ 8,436 Other income/(losses) $ (20 ) $ 361 $ (156 ) Investment management fee waivers and reimbursements $ 547 $ 121 $ 302 12b-1 fee waivers $ 644 $ 651 $ 667 Value Line’s non-voting revenues interest $ 15,899 $ 15,190 $ 11,184 EAM's net income (1) $ 4,284 $ 4,262 $ 2,332 ( 1 Fiscal Years Ended April 30, ($ in thousands) 2022 2021 EAM's total assets $ 63,592 $ 64,197 EAM's total liabilities (1) (6,282 ) (6,870 ) EAM's total equity $ 57,310 $ 57,327 ( 1 April 30, 2022 2021, |
Note 5 - Variable Interest Enti
Note 5 - Variable Interest Entity | 12 Months Ended |
Apr. 30, 2022 | |
Notes to Financial Statements | |
Variable Interest Entity [Text Block] | Note 5 The Company holds a non-voting revenues interest and a 50% non-voting profits interest in EAM, the adviser to the Value Line asset management and mutual fund distribution businesses. EAM is considered to be a VIE in relation to the Company. The Company makes its determination for consolidation of EAM as a VIE based on a qualitative assessment of the purpose and design of EAM, the terms and characteristics of the variable interests in EAM, and the risks EAM is designed to originate and pass through to holders of variable interests. Other than EAM, the Company does not The Company has determined that it does not not not not not In addition, although EAM is expected to be profitable, there is a risk that it could operate at a loss. While all of the profit interest shareholders in EAM are subject to variability based on EAM’s operations risk, Value Line’s non-voting revenues interest in EAM is a preferred interest in the revenues of EAM, rather than a profits interest in EAM, and Value Line accordingly believes it is subject to proportionately less risk than other holders of the profits interests. The Company has not no no Value Line ($ in thousands) VIE Assets Investment in EAM Trust (1) Liabilities Maximum Exposure to Loss As of April 30, 2022 $ 63,592 $ 59,971 $ - $ 59,971 As of April 30, 2021 $ 64,197 $ 60,977 $ - $ 60,977 ( 1 |
Note 6 - Property and Equipment
Note 6 - Property and Equipment | 12 Months Ended |
Apr. 30, 2022 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 6 Property and equipment are carried at cost. Depreciation and amortization are provided using the straight-line method over the estimated useful lives of the assets, or in the case of leasehold improvements, over the remaining terms of the leases. For income tax purposes, depreciation of furniture and equipment is computed using accelerated methods and buildings and leasehold improvements are depreciated over prescribed extended tax lives. Property and equipment, net, on the Consolidated Balance Sheets was comprised of the following: As of April 30, ($ in thousands) 2022 2021 Building and leasehold improvements $ 1,013 $ 1,013 Operating lease - right-of-use asset 6,442 7,522 Furniture and equipment 4,091 4,080 11,546 12,615 Accumulated depreciation and amortization (4,488 ) (4,304 ) Total property and equipment, net $ 7,058 $ 8,311 |
Note 7 - Federal, State and Loc
Note 7 - Federal, State and Local Income Taxes | 12 Months Ended |
Apr. 30, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 7 In accordance with the requirements of the Income Tax Topic of the FASB's ASC, the Company's provision for income taxes includes the following: Fiscal Years Ended April 30, ($ in thousands) 2022 2021 2020 Current tax expense: Federal $ 5,625 $ 5,407 $ 4,201 State and local 1,280 1,046 1,353 Current tax expense 6,905 6,453 5,554 Deferred tax expense (benefit): Federal 239 859 (174 ) State and local (328 ) (316 ) 328 Deferred tax expense (benefit): (89 ) 543 154 Income tax provision $ 6,816 $ 6,996 $ 5,708 On December 22, 2017 1, 35% 21% January 1, 2018. 2019 The overall effective income tax rates, as a percentage of pre-tax ordinary income for the twelve April 30, 2022, April 30, 2021 April 30, 2020 twelve April 30, 2022 April 30, 2021, 19 2022. not not Deferred income taxes, a liability, are provided for temporary differences between the financial reporting basis and the tax basis of the Company's assets and liabilities. The tax effect of temporary differences giving rise to the Company's long-term deferred tax liability are as follows: Fiscal Years Ended April 30, ($ in thousands) 2022 2021 Federal tax liability (benefit): Deferred gain on deconsolidation of EAM $ 10,669 $ 10,669 Deferred non-cash post-employment compensation (372 ) (372 ) Depreciation and amortization 77 108 Unrealized gain on securities held for sale 909 941 Right of Use Asset (188 ) (196 ) Deferred charges (154 ) (186 ) Other (300 ) (218 ) Total federal tax liability 10,641 10,746 State and local tax liabilities (benefits): Deferred gain on deconsolidation of EAM 2,131 1,807 Deferred non-cash post-employment compensation (74 ) (63 ) Depreciation and amortization 180 18 Unrealized gain on securities held for sale 194 159 Other 54 238 Total state and local tax liabilities 2,485 2,159 Deferred tax liability, long-term $ 13,126 $ 12,905 The tax effect of temporary differences giving rise to the Company's long-term deferred tax liability is primarily a result of the federal, state and local taxes related to the $50,805,000 gain from deconsolidation of the Company's asset management and mutual fund distribution subsidiaries, partially offset by the long-term tax benefit related to the non-cash post-employment compensation of $1,770,000 granted to VLI's former employee. The Company uses the effective income tax rate determined to provide for income taxes on a year-to-date basis and reflects the tax effect of any tax law changes and certain other discrete events in the period in which they occur. The provision for income taxes differs from the amount of income tax determined by applying the applicable U.S. statutory income tax rate to pre-tax income as a result of the following: Fiscal Years Ended April 30, 2022 2021 2020 U.S. statutory federal tax rate 21.00 % 21.00 % 21.00 % Increase (decrease) in tax rate from: State and local income taxes, net of federal income tax benefit 3.12 % 2.05 % 6.30 % Nontaxable SBA loan forgiveness (1.60 %) - - Effect of dividends received deductions (0.29 %) (0.31 %) (0.24 %) Other, net 0.02 % 0.37 % 0.58 % Effective income tax rate 22.25 % 23.11 % 27.64 % The Company believes that, as of April 30, 2022, no The Company is included in the consolidated federal income tax return of the Parent. The Company has a tax sharing agreement which requires it to make tax payments to the Parent equal to the Company's liability/(benefit) as if it filed a separate return. Beginning with the fiscal year ended April 30, 2017, The Company’s federal income tax returns (included in the Parent’s consolidated returns) and state and city tax returns for fiscal years ended 2019 2021, three April 30, 2017 2019 not |
Note 8 - Employees' Profit Shar
Note 8 - Employees' Profit Sharing and Savings Plan | 12 Months Ended |
Apr. 30, 2022 | |
Notes to Financial Statements | |
Compensation Related Costs, General [Text Block] | Note 8 Substantially all employees of the Company and its subsidiaries are members of the Value Line, Inc. Profit Sharing and Savings Plan (the "Plan"). In general, this is a qualified, contributory plan which provides for a discretionary annual Company contribution which is determined by a formula based on the salaries of eligible employees and the amount of consolidated net operating income as defined in the Plan. For the fiscal years ended April 30, 2022, 2021 2020, |
Note 9 - Lease Commitments
Note 9 - Lease Commitments | 12 Months Ended |
Apr. 30, 2022 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 9 On November 30, 2016, 551 December 1, 2016. second third 551 December 1, 2016 November 29, 2027. first first October 2016, October 3, 2021 first six six November 2017. On February 29, 2016, 205 May 1, 2016 April 30, 2024 ( first 2017 2024, In February 2016, No. 2016 02, 842 one May 2019 The Company adopted ASU 2016 02 2018 11, not May 1, 2019). not 1 2 3 The Company leases office space in New York, NY and a warehouse and appurtenant office space in Lyndhurst, NJ. The Company has evaluated these leases and determined that they are operating leases under the definitions of the guidance of ASU 2016 02. The right-of-use asset is initially measured at cost, which comprises the initial amount of the net present value of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less any lease incentives received. For operating leases, the right-of-use asset is subsequently measured throughout the lease term at the carrying amount of the net present value of the lease liability, plus initial direct costs, plus (minus) any prepaid (accrued) lease payments, less the unamortized balance of lease incentives received. On May 1, 2019, April 30, 2022, The Company recognizes lease expense, calculated as the remaining cost of the lease allocated over the remaining lease term on a straight-line basis. Lease expense are presented as part of continuing operations in the consolidated statements of income. For the twelve April 30, 2022, For the twelve April 30, 2022, The Company’s leases generally do not 842 April 30, 2022: Fiscal years ended April 30, (in thousands) 2023 1,597 2024 1,634 2025 1,429 2026 1,461 2027 1,493 Thereafter 882 Total undiscounted future minimum lease payments 8,496 Less: difference between undiscounted lease payments & the present value of future lease payments 1,128 Total operating lease liabilities $ 7,368 For the fiscal years ended April 30, 2022, 2021 2020, |
Note 10 - Disclosure of Credit
Note 10 - Disclosure of Credit Risk of Financial Instruments with Off-balance Sheet Risk | 12 Months Ended |
Apr. 30, 2022 | |
Notes to Financial Statements | |
Concentration Risk of Financial Instruments with Off-balance Sheet Risk [Text Block] | Note 10 Other than EAM and the Value Line Funds as explained in Note 3 2022, 2021 2020, April 30, 2022 2021. twelve April 30, 2022, 2021 2020, 16 |
Note 11 - Comprehensive Income
Note 11 - Comprehensive Income | 12 Months Ended |
Apr. 30, 2022 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 11 The FASB's ASC Comprehensive Income topic requires the reporting of comprehensive income in addition to net income from operations. Comprehensive income is a more inclusive financial reporting methodology that includes disclosure of certain financial information that otherwise would not As of April 30, 2022 April 30, 2021 The components of comprehensive income that are included in the Consolidated Statement of Changes in Shareholders' Equity for the twelve April 30, 2022 Fiscal Year Ended April 30, 2022 ($ in thousands) Amount Before Tax Tax (Expense) / Benefit Amount Net of Tax Change in unrealized gains on available-for-sale fixed income securities $ (34 ) $ 7 $ (27 ) $ (34 ) $ 7 $ (27 ) The components of comprehensive income that are included in the Consolidated Statement of Changes in Shareholders' Equity for the twelve April 30, 2021 Fiscal Year Ended April 30, 2021 ($ in thousands) Amount Before Tax Tax (Expense) / Benefit Amount Net of Tax Change in unrealized gains on available-for-sale fixed income securities $ (173 ) $ 45 $ (128 ) $ (173 ) $ 45 $ (128 ) The components of comprehensive income that are included in the Consolidated Statement of Changes in Shareholders' Equity for the twelve April 30, 2020 Fiscal Year Ended April 30, 2020 ($ in thousands) Amount Before Tax Tax (Expense) / Benefit Amount Net of Tax Change in unrealized gains on available-for-sale fixed income securities $ 134 $ (37 ) $ 97 $ 134 $ (37 ) $ 97 |
Note 12 - Accounting for the Co
Note 12 - Accounting for the Costs of Computer Software Developed for Internal Use | 12 Months Ended |
Apr. 30, 2022 | |
Notes to Financial Statements | |
Internal Use Software Disclosure [Text Block] | Note 12 The Company has adopted the provisions of the Statement of Position 98 1 98 1 98 1 During the twelve April 30, 2021, third not not third twelve April 30, 2022 April 30, 2020. April 30, 2022, 2021 2020 |
Note 13 - Treasury Stock and Re
Note 13 - Treasury Stock and Repurchase Program | 12 Months Ended |
Apr. 30, 2022 | |
Notes to Financial Statements | |
Treasury Stock [Text Block] | Note 13 On March 14, 2022, On May 31, 2022, may may no Treasury stock, at cost, consists of the following: ($ in thousands except for cost per share) Shares Cost Assigned Average Cost per Share Aggregate Purchase Price Remaining under the Program Balance as of April 30, 2019 336,439 $ 4,743 $ 14.10 $ 1,438 Purchases effected in open market 46,840 $ 1,214 $ 25.91 $ - Balance as of April 30, 2020 383,279 $ 5,957 $ 15.54 $ 2,000 Purchases effected in open market (1) 53,551 $ 1,526 $ 28.50 $ - Balance as of April 30, 2021 436,830 $ 7,483 $ 17.13 $ 474 Purchases effected in open market (2) 53,327 $ 2,484 $ 46.58 $ - Balance as of April 30, 2022 490,157 $ 9,967 $ 20.33 $ 1,241 ( 1 April 2020. ( 2 July 2021 March 2022. |
Note 14 - Copyright Fees
Note 14 - Copyright Fees | 12 Months Ended |
Apr. 30, 2022 | |
Notes to Financial Statements | |
Copyright Data Fees [Text Block] | Note 14 During the twelve April 30, 2022, 2021. twelve April 30, 2021, 2020. twelve April 30, 2020, April 30, 2022, third April 30, 2021. |
Note 15 - Restricted Cash and D
Note 15 - Restricted Cash and Deposits | 12 Months Ended |
Apr. 30, 2022 | |
Notes to Financial Statements | |
Restricted Assets Disclosure [Text Block] | Note 15 Restricted Money Market Investment in the noncurrent assets on the Consolidated Condensed Balance Sheet at April 30, 2022, third 2022. |
Note 16 - Concentration
Note 16 - Concentration | 12 Months Ended |
Apr. 30, 2022 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | Note 16 During the twelve April 30, 2022, twelve April 30, 2021, |
Note 17 - Concentration of Cred
Note 17 - Concentration of Credit Risks | 12 Months Ended |
Apr. 30, 2022 | |
Notes to Financial Statements | |
Concentration of Credit Risk [Text Block] | Note 17 Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. April 30, 2022 2021, not |
Note 18 - Business Segments
Note 18 - Business Segments | 12 Months Ended |
Apr. 30, 2022 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 18 The Publishing business segment, the Company's only reportable segment subsequent to December 23, 2010, As described in Note 1 December 23, 2010 no no |
Note 19 - Paycheck Protection P
Note 19 - Paycheck Protection Program Loan | 12 Months Ended |
Apr. 30, 2022 | |
Paycheck Protection Program CARES Act [Member] | |
Notes to Financial Statements | |
Long-Term Debt [Text Block] | Note 19 Shortly after declaration of the COVID- 19 April 2020 Under the terms of the CARES Act, Borrowers could apply for and be granted forgiveness for all or a portion of the PPP Loan. Such forgiveness is determined, subject to limitations, based on the use of loan proceeds in accordance with the terms of the CARES Act. The Company was granted total loan forgiveness of $2,331,365 by the SBA during the second 2022. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Apr. 30, 2022 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates: The preparation of financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results may |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation: The Company follows the guidance in the Financial Accounting Standards Board's ("FASB") Topic 810 not not 5 In accordance with FASB's Topic 810, 323 810 not |
Revenue [Policy Text Block] | Revenue Recognition: Depending upon the product, subscription fulfillment for Value Line periodicals and related publications is available in print or digitally, via internet access. The length of a subscription varies by product and offer received by the subscriber. Generally, subscriptions are offered as annual subscriptions with the majority of subscriptions paid in advance. Subscription revenues, net of discounts, are recognized ratably on a straight line basis when the product is served to the client over the life of the subscription. Accordingly, the amount of subscription fees to be earned by fulfilling subscriptions after the date of the balance sheets are shown as unearned revenue within current and long-term liabilities. Copyright fees are derived from providing certain Value Line trademarks and the Value Line Proprietary Ranks to third third EAM earns investment management fees from the Value Line Funds. The management fees and average daily net assets for the Value Line Funds are calculated by State Street Bank, which serves as the fund accountant, fund administrator, and custodian of the Value Line Funds. The Value Line Funds are open-end management companies registered under the Investment Company Act of 1940 "1940 third |
Equity Method Investments [Policy Text Block] | Investment in Unconsolidated Entities: The Company accounts for its investment in its unconsolidated entity, EAM, using the equity method of accounting in accordance with FASB’s ASC 323. The Company’s “interests” in EAM, the investment adviser to and the sole member of the distributor of the Value Line Funds, consist of a "non-voting revenues interest" and a "non-voting profits interest" in EAM as defined in the EAM Trust Agreement. The non-voting revenues interest entitles the Company to receive a range of 41% to 55%, based on the amount of EAM’s adjusted gross revenues, excluding EULAV Securities' distribution revenues (“Revenues Interest”). The non-voting profits interest entitles the Company to receive 50% of EAM's profits, subject to certain limited adjustments as defined in the EAM Trust Agreement (“Profits Interest”). The Revenues Interest and at least 90% of the Profits Interest are to be distributed each quarter to all interest holders of EAM, including Value Line. The Company's Revenues Interest in EAM excludes participation in the service and distribution fees of EAM's subsidiary EULAV Securities. The Company reflects its non-voting revenues and non-voting profits interests in EAM as non-operating income under the equity method of accounting. Although the Company does not |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements: In December 2019, 2019 12, Topic740 May 1, 2021. not On June 21, 2018, 1992 Quill, no |
Fair Value Measurement, Policy [Policy Text Block] | Valuation of Securities: The Company's securities classified as cash equivalents, equity securities and available-for-sale fixed income securities consist of shares of money market funds that invest primarily in short-term U.S. Government securities and investments in equities including ETFs and are valued in accordance with the requirements of the Fair Value Measurements Topic of the FASB's ASC 820. No. 2016 01 2016 01" The Company classifies its equity securities and available-for-sale fixed income securities as current assets to properly reflect its liquidity and to recognize the fact that it has liquid assets available-for-sale should the need arise. Market valuations of securities listed on a securities exchange and ETF shares are based on the closing sales prices on the last business day of each month. The market value of the Company's fixed maturity U.S. Government debt securities is determined utilizing publicly quoted market prices. Cash equivalents consist of investments in money market funds that invest primarily in U.S. Government securities valued in accordance with rule 2a 7 1940 The Fair Value Measurements Topic of FASB's ASC defines fair value as the price that the Company would receive upon selling an investment in a timely transaction to an independent buyer in the principal or most advantageous market for the investment. The Fair Value Measurements Topic established a three The three three Level 1 Level 2 Level 3 The following summarizes the levels of fair value measurements of the Company’s investments: As of April 30, 2022 ($ in thousands) Level 1 Level 2 Level 3 Total Cash equivalents $ 28,965 $ - $ - $ 28,965 Equity securities 17,647 - - 17,647 Available-for-sale fixed income securities 10,475 - - 10,475 $ 57,087 $ - $ - $ 57,087 As of April 30, 2021 ($ in thousands) Level 1 Level 2 Level 3 Total Cash equivalents $ 18,209 $ - $ - $ 18,209 Equity securities 23,582 - - 23,582 Available-for-sale fixed income securities 2,600 - - 2,600 $ 44,391 $ - $ - $ 44,391 The Company had no April 30, 2022 April 30, 2021, no 2 3 not |
Advertising Cost [Policy Text Block] | Advertising expenses: The Company expenses advertising costs as incurred. |
Income Tax, Policy [Policy Text Block] | Income Taxes: The Company computes its income tax provision in accordance with the Income Tax Topic of the FASB's ASC. Deferred tax liabilities and assets are recognized for the expected future tax consequences of events that have been reflected in the Consolidated Financial Statements. Deferred tax liabilities and assets are determined based on the differences between the book values and the tax bases of particular assets and liabilities, using tax rates currently in effect for the years in which the differences are expected to reverse. The Company adopted the provisions of ASU 2015 17, 740 The Income Tax Topic of the FASB's ASC establishes for all entities, a minimum threshold for financial statement recognition of the benefit of positions taken in filing tax returns (including whether an entity is taxable in a particular jurisdiction), and requires certain expanded tax disclosures. As of April 30, 2022, no |
Earnings Per Share, Policy [Policy Text Block] | Earnings per share: Earnings per share are based on the weighted average number of shares of common stock and common stock equivalents outstanding during each period. Any shares that are reacquired during the period are weighted for the portion of the period that they are outstanding. The Company does not |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents: For purposes of the Consolidated Statements of Cash Flows, the Company considers all cash held at banks and short-term liquid investments with an original maturity of less than three April 30, 2022 April 30, 2021, |
Note 1 - Organization and Sum_2
Note 1 - Organization and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Apr. 30, 2022 | |
Notes Tables | |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | As of April 30, 2022 ($ in thousands) Level 1 Level 2 Level 3 Total Cash equivalents $ 28,965 $ - $ - $ 28,965 Equity securities 17,647 - - 17,647 Available-for-sale fixed income securities 10,475 - - 10,475 $ 57,087 $ - $ - $ 57,087 As of April 30, 2021 ($ in thousands) Level 1 Level 2 Level 3 Total Cash equivalents $ 18,209 $ - $ - $ 18,209 Equity securities 23,582 - - 23,582 Available-for-sale fixed income securities 2,600 - - 2,600 $ 44,391 $ - $ - $ 44,391 |
Note 2 - Supplementary Cash F_2
Note 2 - Supplementary Cash Flows Information (Tables) | 12 Months Ended |
Apr. 30, 2022 | |
Notes Tables | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | Fiscal Years Ended April 30, ($ in thousands) 2022 2021 2020 Cash and cash equivalents $ 29,703 $ 19,171 $ 4,954 Restricted cash $ 305 $ 469 $ 469 Total cash, cash equivalents, and restricted cash shown in the Consolidated Statement of Cash Flows $ 30,008 $ 19,640 $ 5,423 Fiscal Years Ended April 30, ($ in thousands) 2022 2021 2020 State and local income tax payments $ 894 $ 1,406 $ 1,105 Federal income tax payments to the Parent $ 5,400 $ 7,154 $ 3,325 |
Note 3 - Related Party Transa_2
Note 3 - Related Party Transactions (Tables) | 12 Months Ended |
Apr. 30, 2022 | |
Notes Tables | |
Schedule of Non Voting Revenues Interest and Non Voting Profits Interests [Table Text Block] | Fiscal Years Ended April 30, ($ in thousands) 2022 2021 2020 Non-voting revenues interest in EAM $ 15,899 $ 15,190 $ 11,184 Non-voting profits interest in EAM 2,142 2,131 1,166 $ 18,041 $ 17,321 $ 12,350 |
Note 4 - Investments (Tables)
Note 4 - Investments (Tables) | 12 Months Ended |
Apr. 30, 2022 | |
Notes Tables | |
Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block] | ($ in thousands) Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value ETFs - equities $ 13,318 $ 4,348 $ (19 ) $ 17,647 ($ in thousands) Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value ETFs - equities $ 19,105 $ 4,532 $ (55 ) $ 23,582 |
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block] | Amortized Gross Unrealized ($ in thousands) Historical Cost Holding Losses Fair Value Maturity Due within 1 year $ 10,505 $ (30 ) $ 10,475 Total investment in government debt securities $ 10,505 $ (30 ) $ 10,475 Amortized Gross Unrealized ($ in thousands) Historical Cost Holding Gains Fair Value Maturity Due within 1 year $ 2,596 $ 4 $ 2,600 Total investment in government debt securities $ 2,596 $ 4 $ 2,600 |
Investment Income [Table Text Block] | Fiscal Years Ended April 30, ($ in thousands) 2022 2021 2020 Dividend income $ 851 $ 573 $ 352 Interest income 18 137 279 Investment gains/(losses) recognized on sales of equity securities during the period (1,568 ) 835 (1,075 ) Unrealized gains/(losses) recognized on equity securities held at the end of the period 167 3,875 (339 ) Other (2 ) - (6 ) Total investment gains/(losses) $ (534 ) $ 5,420 $ (789 ) |
Investment Holdings, Other than Securities [Table Text Block] | Fiscal Years Ended April 30, ($ in thousands) 2022 2021 2020 Investment management fees earned from the Value Line Funds, net of waivers shown below $ 29,598 $ 29,022 $ 21,985 12b-1 fees and other fees, net of waivers shown below $ 9,310 $ 9,604 $ 8,436 Other income/(losses) $ (20 ) $ 361 $ (156 ) Investment management fee waivers and reimbursements $ 547 $ 121 $ 302 12b-1 fee waivers $ 644 $ 651 $ 667 Value Line’s non-voting revenues interest $ 15,899 $ 15,190 $ 11,184 EAM's net income (1) $ 4,284 $ 4,262 $ 2,332 |
Summary Investment Holdings [Table Text Block] | Fiscal Years Ended April 30, ($ in thousands) 2022 2021 EAM's total assets $ 63,592 $ 64,197 EAM's total liabilities (1) (6,282 ) (6,870 ) EAM's total equity $ 57,310 $ 57,327 |
Note 5 - Variable Interest En_2
Note 5 - Variable Interest Entity (Tables) | 12 Months Ended |
Apr. 30, 2022 | |
Notes Tables | |
Schedule of Variable Interest Entities [Table Text Block] | Value Line ($ in thousands) VIE Assets Investment in EAM Trust (1) Liabilities Maximum Exposure to Loss As of April 30, 2022 $ 63,592 $ 59,971 $ - $ 59,971 As of April 30, 2021 $ 64,197 $ 60,977 $ - $ 60,977 |
Note 6 - Property and Equipme_2
Note 6 - Property and Equipment (Tables) | 12 Months Ended |
Apr. 30, 2022 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | As of April 30, ($ in thousands) 2022 2021 Building and leasehold improvements $ 1,013 $ 1,013 Operating lease - right-of-use asset 6,442 7,522 Furniture and equipment 4,091 4,080 11,546 12,615 Accumulated depreciation and amortization (4,488 ) (4,304 ) Total property and equipment, net $ 7,058 $ 8,311 |
Note 7 - Federal, State and L_2
Note 7 - Federal, State and Local Income Taxes (Tables) | 12 Months Ended |
Apr. 30, 2022 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Fiscal Years Ended April 30, ($ in thousands) 2022 2021 2020 Current tax expense: Federal $ 5,625 $ 5,407 $ 4,201 State and local 1,280 1,046 1,353 Current tax expense 6,905 6,453 5,554 Deferred tax expense (benefit): Federal 239 859 (174 ) State and local (328 ) (316 ) 328 Deferred tax expense (benefit): (89 ) 543 154 Income tax provision $ 6,816 $ 6,996 $ 5,708 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Fiscal Years Ended April 30, ($ in thousands) 2022 2021 Federal tax liability (benefit): Deferred gain on deconsolidation of EAM $ 10,669 $ 10,669 Deferred non-cash post-employment compensation (372 ) (372 ) Depreciation and amortization 77 108 Unrealized gain on securities held for sale 909 941 Right of Use Asset (188 ) (196 ) Deferred charges (154 ) (186 ) Other (300 ) (218 ) Total federal tax liability 10,641 10,746 State and local tax liabilities (benefits): Deferred gain on deconsolidation of EAM 2,131 1,807 Deferred non-cash post-employment compensation (74 ) (63 ) Depreciation and amortization 180 18 Unrealized gain on securities held for sale 194 159 Other 54 238 Total state and local tax liabilities 2,485 2,159 Deferred tax liability, long-term $ 13,126 $ 12,905 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Fiscal Years Ended April 30, 2022 2021 2020 U.S. statutory federal tax rate 21.00 % 21.00 % 21.00 % Increase (decrease) in tax rate from: State and local income taxes, net of federal income tax benefit 3.12 % 2.05 % 6.30 % Nontaxable SBA loan forgiveness (1.60 %) - - Effect of dividends received deductions (0.29 %) (0.31 %) (0.24 %) Other, net 0.02 % 0.37 % 0.58 % Effective income tax rate 22.25 % 23.11 % 27.64 % |
Note 9 - Lease Commitments (Tab
Note 9 - Lease Commitments (Tables) | 12 Months Ended |
Apr. 30, 2022 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Fiscal years ended April 30, (in thousands) 2023 1,597 2024 1,634 2025 1,429 2026 1,461 2027 1,493 Thereafter 882 Total undiscounted future minimum lease payments 8,496 Less: difference between undiscounted lease payments & the present value of future lease payments 1,128 Total operating lease liabilities $ 7,368 |
Note 11 - Comprehensive Income
Note 11 - Comprehensive Income (Tables) | 12 Months Ended |
Apr. 30, 2022 | |
Notes Tables | |
Comprehensive Income (Loss) [Table Text Block] | Fiscal Year Ended April 30, 2022 ($ in thousands) Amount Before Tax Tax (Expense) / Benefit Amount Net of Tax Change in unrealized gains on available-for-sale fixed income securities $ (34 ) $ 7 $ (27 ) $ (34 ) $ 7 $ (27 ) Fiscal Year Ended April 30, 2021 ($ in thousands) Amount Before Tax Tax (Expense) / Benefit Amount Net of Tax Change in unrealized gains on available-for-sale fixed income securities $ (173 ) $ 45 $ (128 ) $ (173 ) $ 45 $ (128 ) Fiscal Year Ended April 30, 2020 ($ in thousands) Amount Before Tax Tax (Expense) / Benefit Amount Net of Tax Change in unrealized gains on available-for-sale fixed income securities $ 134 $ (37 ) $ 97 $ 134 $ (37 ) $ 97 |
Note 13 - Treasury Stock and _2
Note 13 - Treasury Stock and Repurchase Program (Tables) | 12 Months Ended |
Apr. 30, 2022 | |
Notes Tables | |
Class of Treasury Stock [Table Text Block] | ($ in thousands except for cost per share) Shares Cost Assigned Average Cost per Share Aggregate Purchase Price Remaining under the Program Balance as of April 30, 2019 336,439 $ 4,743 $ 14.10 $ 1,438 Purchases effected in open market 46,840 $ 1,214 $ 25.91 $ - Balance as of April 30, 2020 383,279 $ 5,957 $ 15.54 $ 2,000 Purchases effected in open market (1) 53,551 $ 1,526 $ 28.50 $ - Balance as of April 30, 2021 436,830 $ 7,483 $ 17.13 $ 474 Purchases effected in open market (2) 53,327 $ 2,484 $ 46.58 $ - Balance as of April 30, 2022 490,157 $ 9,967 $ 20.33 $ 1,241 |
Note 1 - Organization and Sum_3
Note 1 - Organization and Summary of Significant Accounting Policies (Details Textual) - USD ($) | 12 Months Ended | |
Apr. 30, 2022 | Apr. 30, 2021 | |
Money Market Funds, at Carrying Value | $ 28,965,000 | $ 18,209,000 |
EAM Trust [Member] | ||
Non Voting Profits Interest Percent | 50% | |
EAM Trust [Member] | Minimum [Member] | ||
Non Voting Revenues Interest Percent | 41% | |
Percentage of Non Voting Profits Interests Due from Ex Subsidiary Payable to Parent under Agreement | 90% | |
EAM Trust [Member] | Maximum [Member] | ||
Non Voting Revenues Interest Percent | 55% |
Note 1 - Organization and Sum_4
Note 1 - Organization and Summary of Significant Accounting Policies - Schedule of Fair Value Measurements of Investments (Details) - USD ($) | Apr. 30, 2022 | Apr. 30, 2021 |
Cash equivalents | $ 18,209,000 | |
Equity Securities, FV-NI, Total | $ 17,647,000 | 23,582,000 |
Available-for-sale fixed income securities | 10,475,000 | 2,600,000 |
Investments, Fair Value Disclosure, Total | 57,087,000 | 44,391,000 |
Money Market Funds [Member] | ||
Cash equivalents | 28,965,000 | |
Fair Value, Inputs, Level 1 [Member] | ||
Cash equivalents | 18,209,000 | |
Equity Securities, FV-NI, Total | 17,647,000 | 23,582,000 |
Available-for-sale fixed income securities | 10,475,000 | 2,600,000 |
Investments, Fair Value Disclosure, Total | 57,087,000 | 44,391,000 |
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ||
Cash equivalents | 28,965,000 | |
Fair Value, Inputs, Level 2 [Member] | ||
Cash equivalents | 0 | |
Equity Securities, FV-NI, Total | 0 | 0 |
Available-for-sale fixed income securities | 0 | 0 |
Investments, Fair Value Disclosure, Total | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member] | ||
Cash equivalents | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Cash equivalents | 0 | |
Equity Securities, FV-NI, Total | 0 | 0 |
Available-for-sale fixed income securities | 0 | 0 |
Investments, Fair Value Disclosure, Total | 0 | $ 0 |
Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member] | ||
Cash equivalents | $ 0 |
Note 2 - Supplementary Cash F_3
Note 2 - Supplementary Cash Flows Information - Supplementary Cash Flow Elements (Details) - USD ($) | 12 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2020 | |
Cash and cash equivalents | $ 29,703,000 | $ 19,171,000 | $ 4,954,000 |
Restricted cash | 305,000 | 469,000 | 469,000 |
Total cash, cash equivalents, and restricted cash shown in the Consolidated Statement of Cash Flows | 30,008,000 | 19,640,000 | 5,423,000 |
State and local income tax payments | 894,000 | 1,406,000 | 1,105,000 |
Federal income tax payments to the Parent | $ 5,400,000 | $ 7,154,000 | $ 3,325,000 |
Note 3 - Related Party Transa_3
Note 3 - Related Party Transactions (Details Textual) - USD ($) | 12 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2020 | |
Revenue from Related Parties | $ 385,000 | $ 408,000 | |
Federal Income Tax Payments to Parent | $ 5,400,000 | 7,154,000 | $ 3,325,000 |
Ownership Percentage By Parent | 90.79% | ||
Value Line Inc [Member] | |||
Accounts Receivable, Related Parties | 0 | ||
Value Line Inc [Member] | |||
Accounts Receivable, Related Parties | $ 0 | ||
EAM Trust [Member] | |||
Assets under Management, Carrying Amount | 3,360,000,000 | 4,960,000,000 | |
Increase (Decrease) in Assets under Management | $ 1,600,000,000 | ||
Percentage of Assets Increased (Decreased) in Unconsolidated Entities | 32.40% | ||
Non Voting Profits Interest Percent | 50% | ||
Percentage of Non Voting Revenues Interest in Unconsolidated Entity | 54% | ||
Non Voting Profits Interest in Variable Entity Not yet Paid | $ 3,657,000 | $ 4,664,000 | |
EAM Trust [Member] | Minimum [Member] | |||
Non Voting Revenues Interest Percent | 41% | ||
Percentage of Non Voting Profits Interests Due from Ex Subsidiary Payable to Parent under Agreement | 90% | ||
EAM Trust [Member] | Maximum [Member] | |||
Non Voting Revenues Interest Percent | 55% |
Note 3 - Related Party Transa_4
Note 3 - Related Party Transactions - Non-voting Revenues Interest and Non-voting Profits Interests (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2020 | |
Non-voting revenues interest in EAM | $ 15,899 | $ 15,190 | $ 11,184 |
Non-voting profits interest in EAM | 2,142 | 2,131 | 1,166 |
Revenues and Profits Distribution from Unconsolidated Entity | $ 18,041 | $ 17,321 | $ 12,350 |
Note 4 - Investments (Details T
Note 4 - Investments (Details Textual) - USD ($) | 12 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2020 | |
Equity Securities, FV-NI, Cost | $ 13,318,000 | $ 19,105,000 | |
Equity Securities, FV-NI, Total | 17,647,000 | 23,582,000 | |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax, Portion Attributable to Parent, Total | (27,000) | (128,000) | $ 97,000 |
OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, Tax | (7,000) | (45,000) | 37,000 |
Proceeds from Sale of Equity Securities, FV-NI | 12,039,000 | 8,212,000 | $ 4,387,000 |
Equity Securities, FV-NI, Gain (Loss), Total | 1,254,000 | 1,481,000 | |
Equity Method Investments | 59,971,000 | 60,977,000 | |
EAM Trust [Member] | |||
Fair Value of Contributed Capital at Inception | 55,805,000 | ||
Cash and Liquid Securities in Excess of Working Capital Requirements Contributed to Capital Account | 5,820,000 | ||
Equity Method Investment, Other than Temporary Impairment | $ 0 | 0 | |
Percentage of Non Voting Profit Interest | 50% | ||
Accrued Non Voting Revenues and Non Voting Profits Interests Payable | $ 3,657,000 | 4,664,000 | |
Fixed Income Securities [Member] | |||
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale, Total | 2,496,000 | 14,902,000 | |
AOCI, Debt Securities, Available-for-sale, Adjustment, after Tax, Total | 30,000 | 4,000 | |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax, Portion Attributable to Parent, Total | 34,000 | (173,000) | |
OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, Tax | $ 7,000 | $ (45,000) | |
Debt Securities, Available-for-Sale, Weighted Average Yield | 0.60% | 1.40% | |
Fixed Income Securities [Member] | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | |||
AOCI Tax, Attributable to Parent | $ 6,000 | $ 1,000 |
Note 4 - Investments - Schedule
Note 4 - Investments - Schedule of Carrying Value and Fair Value of Equity Securities (Details) - USD ($) | Apr. 30, 2022 | Apr. 30, 2021 |
Equity securities, cost | $ 13,318,000 | $ 19,105,000 |
Equity securities, fair value | 17,647,000 | 23,582,000 |
Exchange Traded Funds [Member] | ||
Equity securities, cost | 13,318,000 | 19,105,000 |
Equity securities, gross unrealized gains | 4,348,000 | 4,532,000 |
Equity securities, gross unrealized losses | (19,000) | (55,000) |
Equity securities, fair value | $ 17,647,000 | $ 23,582,000 |
Note 4 - Investments - Schedu_2
Note 4 - Investments - Schedule of Carrying Value and Fair Value of Securities Available-for-sale (Details) - USD ($) $ in Thousands | Apr. 30, 2022 | Apr. 30, 2021 |
Due within 1 year, amortized cost | $ 10,505 | $ 2,596 |
Due within 1 year, gross unrealized losses | (30) | |
Due within 1 year, fair value | 10,475 | 2,600 |
Amortized cost | 10,505 | 2,596 |
Total investment in government debt securities, gross unrealized losses | (30) | |
Fair value | $ 10,475 | 2,600 |
Due within 1 year, gross unrealized gains | 4 | |
Gross unrealized gains | $ 4 |
Note 4 - Investments - Income F
Note 4 - Investments - Income From Securities Transactions (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2020 | |
Dividend income | $ 851 | $ 573 | $ 352 |
Interest income | 18 | 137 | 279 |
Investment gains/(losses) recognized on sales of equity securities during the period | (1,568) | 835 | (1,075) |
Unrealized gains/(losses) recognized on equity securities held at the end of the period | 167 | 3,875 | (339) |
Other | (2) | 0 | (6) |
Total investment gains/(losses) | $ (534) | $ 5,420 | $ (789) |
Note 4 - Investments - Componen
Note 4 - Investments - Components of EAM's Investment Management Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2020 | ||
Revenues | $ 40,525 | $ 40,392 | $ 40,299 | |
Non-voting revenues interest in EAM | 15,899 | 15,190 | 11,184 | |
EAM's net income | 23,822 | 23,280 | 14,943 | |
EAM Trust [Member] | ||||
Other income/(losses) | (20) | 361 | (156) | |
Investment management fee waivers and reimbursements | 547 | 121 | 302 | |
12b-1 fee waivers | 644 | 651 | 667 | |
Non-voting revenues interest in EAM | 15,899 | 15,190 | 11,184 | |
EAM's net income | [1] | 4,284 | 4,262 | 2,332 |
EAM Trust [Member] | Investment Advice [Member] | ||||
Revenues | 29,598 | 29,022 | 21,985 | |
EAM Trust [Member] | Distribution and Shareholder Service [Member] | ||||
Revenues | $ 9,310 | $ 9,604 | $ 8,436 | |
[1]Represents EAM's net income, after giving effect to Value Line's non-voting revenues interest, but before distributions to voting profits interest holders and to the Company in respect of its 50% non-voting profits interest. |
Note 4 - Investments - Assets a
Note 4 - Investments - Assets and Liabilities (Details) - USD ($) $ in Thousands | Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2020 | Apr. 30, 2019 | |
EAM's total assets | $ 128,743 | $ 121,136 | |||
EAM's total liabilities | 49,098 | 54,123 | |||
EAM's total equity | 79,645 | 67,013 | $ 53,539 | $ 47,524 | |
EAM Trust [Member] | |||||
EAM's total assets | 63,592 | 64,197 | |||
EAM's total liabilities | [1] | 6,282 | 6,870 | ||
EAM's total equity | $ 57,310 | $ 57,327 | |||
[1]At April 30, 2022 and 2021, EAM's total liabilities included a payable to VLI for its accrued non-voting revenues and non-voting profits interests of $3,657,000 and $4,664,000, respectively. |
Note 5 - Variable Interest En_3
Note 5 - Variable Interest Entity (Details Textual) | 12 Months Ended |
Apr. 30, 2022 | |
EAM Trust [Member] | |
Non Voting Profits Interest Percent | 50% |
Note 5 - Variable Interest En_4
Note 5 - Variable Interest Entity - Total Assets, the Maximum Exposure to Loss, and Value of the Assets and Liabilities in EAM (Details) - USD ($) $ in Thousands | Apr. 30, 2022 | Apr. 30, 2021 | |
Assets | $ 128,743 | $ 121,136 | |
Liabilities | 49,098 | 54,123 | |
EAM Trust [Member] | |||
Assets | 63,592 | 64,197 | |
Liabilities | [1] | 6,282 | 6,870 |
EAM Trust [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Assets | [2] | 59,971 | 60,977 |
Liabilities | 0 | 0 | |
Value Line Maximum Exposure to Loss | $ 59,971 | $ 60,977 | |
[1]At April 30, 2022 and 2021, EAM's total liabilities included a payable to VLI for its accrued non-voting revenues and non-voting profits interests of $3,657,000 and $4,664,000, respectively.[2]Reported within Long-Term Assets on Consolidated Balance Sheets. |
Note 6 - Property and Equipme_3
Note 6 - Property and Equipment - Components of Property and Equipment (Details) - USD ($) | Apr. 30, 2022 | Apr. 30, 2021 | May 01, 2019 |
Building and leasehold improvements | $ 1,013,000 | $ 1,013,000 | |
Operating lease - right-of-use asset | 6,442,000 | 7,522,000 | $ 9,575,000 |
Furniture and equipment | 4,091,000 | 4,080,000 | |
Property, Plant and Equipment, Gross, Ending Balance | 11,546,000 | 12,615,000 | |
Accumulated depreciation and amortization | (4,488,000) | (4,304,000) | |
Total property and equipment, net | $ 7,058,000 | $ 8,311,000 |
Note 7 - Federal, State and L_3
Note 7 - Federal, State and Local Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2020 | Apr. 30, 2019 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21% | 21% | 21% | 21% |
Effective Income Tax Rate Reconciliation, Percent, Total | 22.25% | 23.11% | 27.64% | |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | 3.12% | 2.05% | 6.30% | |
State and Local Jurisdiction [Member] | ||||
Deferred Tax Assets, Deferred Non Cash Postemployment Compensation, Noncurrent | $ (74,000) | $ (63,000) | ||
State and Local Jurisdiction [Member] | New York City Department of Finance [Member] | ||||
Income Tax Examination, Year under Examination | 2017 2018 2019 | |||
Former Employee [Member] | ||||
Deferred Tax Assets, Deferred Non Cash Postemployment Compensation, Noncurrent | $ 1,770,000 | |||
Asset Management and Mutual Fund Distribution Subsidiaries [Member] | ||||
Deconsolidation, Gain (Loss), Amount | $ 50,805,000 |
Note 7 - Federal, State and L_4
Note 7 - Federal, State and Local Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2020 | |
Federal | $ 5,625 | $ 5,407 | $ 4,201 |
State and local | 1,280 | 1,046 | 1,353 |
Current tax expense | 6,905 | 6,453 | 5,554 |
Federal | 239 | 859 | (174) |
State and local | (328) | (316) | 328 |
Deferred tax expense (benefit): | (89) | 543 | 154 |
Income tax provision | $ 6,816 | $ 6,996 | $ 5,708 |
Note 7 - Federal, State and L_5
Note 7 - Federal, State and Local Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Apr. 30, 2022 | Apr. 30, 2021 |
Deferred tax liability | $ 13,126 | $ 12,905 |
Domestic Tax Authority [Member] | ||
Deferred gain on deconsolidation of EAM | 10,669 | 10,669 |
Deferred non-cash post-employment compensation | (372) | (372) |
Depreciation and amortization | 77 | 108 |
Unrealized gain on securities held for sale | 909 | 941 |
Right of Use Asset | (188) | (196) |
Deferred charges | (154) | (186) |
Other | (300) | (218) |
Deferred tax liability | 10,641 | 10,746 |
State and Local Jurisdiction [Member] | ||
Deferred gain on deconsolidation of EAM | 2,131 | 1,807 |
Deferred non-cash post-employment compensation | (74) | (63) |
Depreciation and amortization | 180 | 18 |
Unrealized gain on securities held for sale | 194 | 159 |
Other | 54 | 238 |
Deferred tax liability | $ 2,485 | $ 2,159 |
Note 7 - Federal, State and L_6
Note 7 - Federal, State and Local Income Taxes - Effective Income Tax Rate Reconciliation (Details) | 12 Months Ended | |||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2020 | Apr. 30, 2019 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21% | 21% | 21% | 21% |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | 3.12% | 2.05% | 6.30% | |
Nontaxable SBA loan forgiveness | (1.60%) | 0% | 0% | |
Effect of dividends received deductions | (0.29%) | (0.31%) | (0.24%) | |
Other, net | 0.02% | 0.37% | 0.58% | |
Effective income tax rate | 22.25% | 23.11% | 27.64% |
Note 8 - Employees' Profit Sh_2
Note 8 - Employees' Profit Sharing and Savings Plan (Details Textual) - USD ($) | 12 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2020 | |
Deferred Compensation Arrangement with Individual, Contributions by Employer | $ 557,000 | $ 980,000 | $ 870,000 |
Note 9 - Lease Commitments (Det
Note 9 - Lease Commitments (Details Textual) | 12 Months Ended | |||||||
Nov. 30, 2016 USD ($) ft² | Feb. 29, 2016 USD ($) ft² | Apr. 30, 2022 USD ($) | Apr. 30, 2021 USD ($) | Apr. 30, 2020 USD ($) | Oct. 03, 2021 USD ($) | May 01, 2019 USD ($) | Oct. 30, 2016 USD ($) | |
Operating Lease, Right-of-Use Asset | $ 6,442,000 | $ 7,522,000 | $ 9,575,000 | |||||
Operating Lease, Liability, Total | 7,368,000 | 10,340,000 | ||||||
Lease Incentive Receivable | $ 765,000 | |||||||
Operating Lease, Expense | 1,499,000 | $ 1,499,000 | $ 1,499,000 | |||||
Operating Lease, Payments | $ 1,506,000 | |||||||
Sublease to American Building Maintenance Industries, Incorporated [Member] | ||||||||
Area of Real Estate Property (Square Foot) | ft² | 24,726 | |||||||
Operating Leases, Annual Base Rent | $ 1,126,000 | |||||||
Base Rent Increase, Percent | 2.25% | |||||||
Security Deposit | $ 305,000 | $ 469,000 | ||||||
Annual Rental Expenditure, Initial, Decrease, Percentage | 23% | |||||||
Lessee Leasing Arrangements, Allowance | $ 417,000 | |||||||
Lessee Leasing Arrangements, Allowance, Six Months of Free Rent Payment | $ 563,000 | |||||||
Seagis Property Group LP (the "Landlord") [Member] | Value Line Distribution Center ("VLDC") [Member] | ||||||||
Area of Real Estate Property (Square Foot) | ft² | 24,110 | |||||||
Operating Leases, Annual Base Rent | $ 192,880 | |||||||
Security Deposit | 32,146 | |||||||
Base Rent Increase Amount | $ 237,218 |
Note 9 - Lease Commitments - Fu
Note 9 - Lease Commitments - Future Minimum Payments (Details) - USD ($) | Apr. 30, 2022 | May 01, 2019 |
2023 | $ 1,597,000 | |
2024 | 1,634,000 | |
2025 | 1,429,000 | |
2026 | 1,461,000 | |
2027 | 1,493,000 | |
Thereafter | 882,000 | |
Total undiscounted future minimum lease payments | 8,496,000 | |
Less: difference between undiscounted lease payments & the present value of future lease payments | 1,128,000 | |
Operating Lease, Liability, Total | $ 7,368,000 | $ 10,340,000 |
Note 10 - Disclosure of Credi_2
Note 10 - Disclosure of Credit Risk of Financial Instruments with Off-balance Sheet Risk (Details Textual) | 12 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2020 | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | One Single Customer [Member] | |||
Concentration Risk, Percentage | 33% | 31.60% | 31.40% |
Note 11 - Comprehensive Incom_2
Note 11 - Comprehensive Income - Components of Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2020 | |
Change in unrealized gains on available-for-sale fixed income securities, amount before tax | $ (34) | $ (173) | $ 134 |
Change in unrealized gains on available-for-sale fixed income securities, tax (expense)/benefit | 7 | 45 | (37) |
Change in unrealized gains on available-for-sale fixed income securities, amount net of tax | (27) | (128) | 97 |
Other comprehensive income (loss), available-for-sale securities adjustment, amount before tax | (34) | (173) | 134 |
Other comprehensive income (loss), available-for-sale securities, tax expense | 7 | 45 | (37) |
Other comprehensive income (loss), available-for-sale securities adjustment, amount net of tax | $ (27) | $ (128) | $ 97 |
Note 12 - Accounting for the _2
Note 12 - Accounting for the Costs of Computer Software Developed for Internal Use (Details Textual) - USD ($) | 12 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2020 | |
Capitalized Computer Software, Additions | $ 145,000 | ||
Capitalized Computer Software, Amortization | $ 73,000 | 70,000 | $ 65,000 |
Internal Costs to Develop Software | $ 0 | $ 0 | |
Minimum [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 3 years | ||
Maximum [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 5 years |
Note 13 - Treasury Stock and _3
Note 13 - Treasury Stock and Repurchase Program (Details Textual) - USD ($) | May 31, 2022 | Mar. 31, 2022 | Mar. 14, 2022 | Jul. 31, 2021 | Apr. 30, 2020 |
Stock Repurchase Program, Authorized Amount | $ 3,000,000 | $ 2,000,000 | $ 2,000,000 | $ 2,000,000 | $ 2,000,000 |
Note 13 - Treasury Stock and _4
Note 13 - Treasury Stock and Repurchase Program - Treasury Stock at Cost (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2020 | Apr. 30, 2019 | |||
Balance, shares (in shares) | 436,830 | 383,279 | 336,439 | |||
Balance, total average cost assigned | $ 7,483 | $ 5,957 | $ 4,743 | |||
Balance, average cost per share (in dollars per share) | $ 17.13 | $ 15.54 | $ 14.10 | |||
Balance, aggregate purchase price remaining under the program | $ 1,241 | $ 474 | $ 2,000 | $ 1,438 | ||
Purchases effected in open market, shares (in shares) | 53,327 | [1] | 53,551 | [2] | 46,840 | |
Purchases effected in open market, cost | $ 2,484 | [1] | $ 1,526 | [2] | $ 1,214 | |
Purchases effected in open market, average cost (in dollars per share) | $ 46.58 | [1] | $ 28.50 | [2] | $ 25.91 | |
Balance, shares (in shares) | 490,157 | 436,830 | 383,279 | |||
Balance, total average cost assigned | $ 9,967 | $ 7,483 | $ 5,957 | |||
Balance, average cost per share (in dollars per share) | $ 20.33 | $ 17.13 | $ 15.54 | |||
[1]Were acquired during the $2 million repurchase program authorized in July 2021 and the $2 million repurchase program authorized in March 2022.[2]Were acquired during the $2 million repurchase program authorized in April 2020. |
Note 14 - Copyright Fees (Detai
Note 14 - Copyright Fees (Details Textual) - USD ($) | 12 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2020 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 40,525,000 | $ 40,392,000 | $ 40,299,000 |
Percentage of Copyright Data Fees | 70.40% | ||
Third Party Sponsored Assets for Copyright Data | 12,400,000,000 | 11,600,000,000 | |
License [Member] | |||
Revenue from Contract with Customer, Including Assessed Tax | $ 13,380,000 | $ 12,763,000 | $ 12,671,000 |
Percentage of Copyright Data Fees | 4.80% | 0.70% |
Note 15 - Restricted Cash and_2
Note 15 - Restricted Cash and Deposits (Details Textual) - USD ($) | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 | Apr. 30, 2021 |
Restricted Investments, Noncurrent | $ 305,000 | $ 305,000 | $ 469,000 | $ 469,000 |
Cash Securing a Letter of Credit Issued as Security Deposit [Member] | ||||
Security Deposit | $ 305,000 |
Note 16 - Concentration (Detail
Note 16 - Concentration (Details Textual) - USD ($) | 12 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2020 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 40,525,000 | $ 40,392,000 | $ 40,299,000 |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | One Single Customer [Member] | |||
Concentration Risk, Percentage | 33% | 31.60% | 31.40% |
Revenue from Contract with Customer, Including Assessed Tax | $ 40,525,000 | $ 40,392,000 |
Note 17 - Concentration of Cr_2
Note 17 - Concentration of Credit Risks (Details Textual) - USD ($) | Apr. 30, 2022 | Apr. 30, 2021 |
Cash, Uninsured Amount | $ 1,978,000 | $ 2,742,000 |
Note 19 - Paycheck Protection_2
Note 19 - Paycheck Protection Program Loan (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Oct. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2020 | |
Proceeds from Issuance of Long-term Debt, Total | $ 0 | $ 0 | $ 2,331,000 | |
Paycheck Protection Program CARES Act [Member] | ||||
Proceeds from Issuance of Long-term Debt, Total | $ 2,331,365 |