Core Insights - Value Line, Inc. (VALU) shares increased by 3.6% following the earnings report for the quarter ended October 31, 2025, outperforming the S&P 500 index, which declined by 1.7% during the same period [1] - For the fiscal second quarter of 2026, the company reported earnings per share (EPS) of 60 cents, consistent with the previous year's quarter [1] Financial Performance - Total publishing revenues decreased by 3.2% to $8.6 million from $8.8 million in the prior year, driven by declines in investment periodicals and copyright fees [2] - Net income remained stable at $5.68 million, nearly unchanged from $5.69 million a year earlier [2] - Strong performance from equity interests in EAM Trust contributed $5.2 million in revenues, an 11.3% increase from $4.6 million a year ago [3] - Investment gains totaled $1.2 million, unchanged from the previous year, supported by $0.4 million in unrealized gains on equity holdings [4] Management Insights - The company emphasized its focus on proprietary investment research and analytics for both retail and institutional clients, highlighting a stable business model [5] - Continued reliance on recurring subscription revenue was noted, with most products delivered digitally or in print via annual subscriptions [6] Cost Management - Total expenses remained flat at $7 million, with salaries and employee benefits slightly decreasing to $3.5 million [7] - Cost discipline helped mitigate the decline in publishing revenue [7] Cash Position and Future Outlook - Cash and cash equivalents improved to $43.6 million from $34.1 million six months earlier, supported by strong operating cash flows of $8.5 million in the first half of fiscal 2026 [8] - Unearned revenues, an indicator of future subscription fulfillment, decreased slightly to $20.3 million from $22.3 million in April 2025 [8] Share Repurchase Program - The board approved a new share repurchase program authorizing up to $2 million in buybacks, with 4,194 shares repurchased during the quarter at an average cost of $26.68 per share [9] - An additional 14,015 shares were repurchased on November 17, 2025, at $37 per share via a private block offering [9]