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Thursday, Mar 28, 2024

Overseas Sales Lead To Net Income For Electro Rent

An increase in international sales contributed to electronic equipment rental company Electro Rent Corp. reporting a net income for the third quarter. A strong demand for test and measurement equipment also figured in the positive financial showing for the Van Nuys-based company. For the quarter ending Feb. 29, Electro Rent posted a net income of $4.8 million, or $0.19 per diluted share, on revenues of $26.2 million. That is a 7 percent decrease from the net income of $5.2 million, or $0.20 per diluted share, on revenues of $24.7 million for the same period in 2007. The company developed further momentum in its international business, especially in Europe and China, Chairman and CEO Daniel Greenberg said. In China, Electro Rent has broadened its reach and expanded its presence and the distribution channel continues to grow, Greenberg said.

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