Electro Rent’s Income Falls 17% for Period
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Electro Rent Corp., a Van Nuys company that rents and sells electronic test equipment, said its net income for the three months that ended Nov. 30 fell 17% to $1.84 million from $2.21 million for the same quarter in 1988. Revenues for the period were down 6% to $27.3 million from $28.9 million a year earlier.
For the six-month period, Electro Rent said its net income fell 19% to $3.55 million from $4.39 million a year before. Six-month revenues dropped 7% to $53.9 million from $58.3 million last year.
The company attributed its lower profit to a decline in sales of used equipment.
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