Electro Rent’s Earnings Rise 38% in 2nd Quarter
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Electro Rent Corp., a Van Nuys company that rents and leases personal computers and other electronic equipment, reported a 38% increase in its fiscal second-quarter earnings, reflecting growing demand for its products.
In the three months that ended Nov. 30, Electro Rent earned $2.89 million, up 38% from $2.1 million in net income a year before. Its revenue rose 10%, to $27.5 million from $25.1 million.
For the six months, however, the company’s profit fell 21% to $5.54 million from $7.04 million a year earlier. Its revenue was up 9%, to $55 million from $50.6 million.
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