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Investments (Tables)
 9 Months Ended
Jan. 31, 2014
Investments, Debt and Equity Securities [Abstract]  
Schedule of carrying value and fair value of securities available-for-sale
The carrying value and fair value of securities available-for-sale at January 31, 2014 were as follows:
                                 
($ in thousands)
  
Cost
    
Gross Unrealized
Gains
    
Gross Unrealized
Losses
    
Fair Value
  
Common stocks
   $ 101     $ 47     $ (18 )   $ 130  
ETFs - equities
     3,878       961       (8 )     4,831  
Inverse ETFs - equities
     4,868       -       (669 )     4,199  
    $ 8,847     $ 1,008     $ (695 )   $ 9,160  
 
The carrying value and fair value of securities available-for-sale at April 30, 2013 were as follows:
                                 
($ 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  
Schedule of income from securities transactions
 
                               
   
Three Months Ended January 31,
    
Nine Months Ended January 31,
  
 ($ in thousands)
  
2014
    
2013
    
2014
    
2013
  
Dividend income
   $ 36     $ 34     $ 109     $ 91  
Interest income
     1       3       2       4  
Capital gain
     36       -       36       -  
Other
     (3 )     -       (5 )     (2 )
Total income from securities transactions, net
   $ 70     $ 37     $ 142     $ 93  
Schedule of components of EAM's investment management operations
 
   
Three Months Ended January 31,
    
Nine Months Ended January 31,
  
($ in thousands) (unaudited)
  
2014
    
2013
    
2014
    
2013
  
Investment management fees earned from the Value Line Funds, net of fee waivers
   $ 3,750     $ 3,252     $ 10,815     $ 9,481  
12b-1 fees and other fees, net of fee waivers
   $ 1,344     $ 992     $ 3,757     $ 2,868  
Other income
   $ 3     $ 5     $ 13     $ 5  
Investment management fee waivers (1)
   $ 22     $ 16     $ 69     $ 363  
12b-1 fee waivers (1)
   $ 396     $ 545     $ 1,298     $ 1,635  
Value Line’s non-voting revenues interest
   $ 1,767     $ 1,472     $ 5,028     $ 4,280  
EAM’s net income (2)
   $ 414     $ 306     $ 1,138     $ 694  
 
(1) During fiscal 2013, investment management fee waivers primarily related to 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. During fiscal 2014 and 2013, the 12b-1 fee waivers related to seven and nine of the Value Line Mutual Funds, respectively.
 
(2) 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
 
               
   
January 31,
    
April 30,
  
($ in thousands)
  
2014
    
2013
  
   
(unaudited)
        
EAM’s total assets
   $ 59,730     $ 59,349  
EAM’s total liabilities (1)
     (2,987 )     (2,814 )
EAM’s total equity
   $ 56,743     $ 56,535  
 
(1) At January 31, 2014 and April 30, 2013, EAM’s total liabilities included a payable to VLI for its accrued non-voting revenues and non-voting profits interests of $1,953,000 and $1,621,000, respectively.