Electro Rent posts higher Q4 revenue, lower profit
Electro Rent Corp. (Nasdaq:ELRC) is down in afternoon trading after the Van Nuys, Calif.-based renter of electronic equipment said early Monday that its fourth-quarter revenue rose to $38.9 million, up 16% from $33.4 million a year earlier. Wall Street expected $35.2 million.
Quarterly net income declined to $5.2 million, or $0.20 per share, versus $6.2 million, or $0.24 per share, a year ago.
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