Investments (Tables)

12 Months Ended

Apr. 30, 2013

Investments, Debt and Equity Securities [Abstract]

Schedule of carrying value and fair value of securities available-for-sale

($ in thousands)	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Common stocks	$	103	$	27	$	(16	)	$	114
ETFs - equities		3,878		740		-			4,618
Inverse ETFs - equities		2,314		-		(364	)		1,950
	$	6,295	$	767	$	(380	)	$	6,682
($ in thousands)	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Common stocks	$	103	$	14	$	(5	)	$	112
ETFs - equities		2,257		201		(5	)		2,453
Inverse ETFs - equities		1,389		-		(73	)		1,316
	$	3,749	$	215	$	(83	)	$	3,881

Schedule of income from securities transactions

	Fiscal Years Ended April 30,
($ in thousands)	2013			2012			2011
Dividend income	$	124		$	68		$	16
Interest income (1)		4			16			118
Realized and unrealized gains (losses) on securities available-for-sale (2)		-			(11	)		(63	)
Interest expense		-			-			(2	)
Other		(2	)		(3	)		(4	)
Total income from securities transactions, net	$	126		$	70		$	65

(1) Interest income was recorded net of bond premium amortization of $14,000 during fiscal year 2011.

(2) These amounts were reclassified from Accumulated Other Comprehensive Income in the Consolidated  Balance Sheets to the Consolidated  Statements of Income.

Schedule of components of EAM's investment management operations

	Fiscal Years Ended April 30,
($ in thousands)	2013		2012		2011 (1)
Investment management fees earned from the Value Line Funds, net of waivers shown below	$	12,773	$	12,465	$	4,592
12b-1 fees and other fees, net of waivers shown below	$	3,905	$	3,466	$	1,293
Other income	$	14	$	12	$	3
Investment management fee waivers and reimbursements (2)	$	379	$	806	$	303
12b-1 fee waivers (2)	$	2,156	$	2,257	$	855
Value Line’s non-voting revenues interest	$	5,781	$	5,684	$	2,187
EAM’s net income (3)	$	945	$	461	$	336

(1) Total results of EAM’s investment management operations was for the period from December 23, 2010 through April 30, 2011.

(2) During fiscal 2013 investment management fee waivers and reimbursements primarily related to the Value Line Core Bond Fund and the U.S. Government Money Market Fund (“USGMMF”) which was merged into a third party fund, the Daily Income Fund, managed by Reich & Tang, effective October 19, 2012.  The 12b-1 fee waivers related to nine of the Value Line Mutual Funds.  In fiscal 2012, investment management fee waivers and reimbursements primarily related to the USGMMF and the 12b-1 fee waivers related to eleven of the Value Line Mutual Funds.

(3) 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.

Schedule of assets and liabilities

Fiscal Years Ended April 30,
($ in thousands)	2013			2012
EAM’s total assets	$	59,349		$	57,482
EAM’s total liabilities (1)		(2,814	)		(663	)
EAM’s total equity	$	56,535		$	56,819

(1) At April 30, 2013, EAM’s total liabilities included a payable to VLI for its accrued non-voting revenues and non-voting profits interests of $1,621,000.