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Monday, Jun 5, 2023

Electro Rent Reports Financials

Electro Rent Corp. Thursday reported net income declined to $4.9 million or $0.19 per diluted share for the second quarter ended Nov. 30, 2006, compared to earnings of $5.6 million or $0.22 per share in the comparable period a year ago. Revenues at the Van Nuys-based company rose 12.6 percent to $31.5 million compared to $28 million for the second quarter of its last fiscal year. “Rental and lease revenue once again increased at a rapid pace, an encouraging sign that our growth initiatives in the U.S., China and Europe can deliver the results we anticipated,” said Daniel Greenberg, chairman and CEO. “We also remained committed to financing these initiatives in the short term in order to build a global operating platform that can sustain our growth for the long term.”

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