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Electro Rent Posts Quarterly

Electronic equipment provider Electro Rent Corp. saw a net profit loss for the first quarter of the 2007 fiscal year due to developing its overseas operations and the integration of assets from an acquisition in January, the company reported Friday. For the reporting period ending Aug. 31, the Van Nuys-based company had net income of $4.7 million or $0.18 per diluted share on revenues of $30 million as compared to the nearly $5 million in net income or $0.19 per diluted share on revenues of $26.5 million for the same period in 2005. Electro Rent operates facilities in Asia and Europe. Developing those operations contributed to the drop in net income, the company stated in its filing to the U.S. Securities and Exchange Commission. Also contributing to the income drop was the integration of Rush Computer Rentals Inc., purchased in January to help grow the data products business, the filing said. Rush is a leading provider of personal computers and related equipment for rent or sale in the northeast United States. Electro Rent generates revenues through the rental, lease and sale of electronic equipment, primarily test and measurement and personal computer-related equipment. Testing and measurement equipment accounted for 75 percent of the rental and lease revenues for the first quarter of fiscal year 2007.

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