Electro Rent Corp. beat an analyst’s expectation on revenue in the fiscal fourth quarter while falling short on earnings.
The Van Nuys company, which sells and rents electronic testing equipment, reported net income of $3.4 million (14 cents a share) for the quarter ending May 31, compared with $4.6 million (19 cents) in the same period a year earlier. Revenue was flat at $60.4 million.
One analyst follows the company and expected earnings of 17 cents on revenue of $59 million, according to Thomson Financial Network.
Electro Rent Chief Executive Daniel Greenberg said the company’s aerospace and defense business was stable during the fiscal year, and that it expanded European operations with a new London office.
The fiscal year ended with the expiration of an agreement between Electro Rent and Keysight Technologies Inc., in Santa Rosa, for the Valley company to resell new Keysight test and measurement equipment to small- and medium-sized businesses.
“Since the expiration of the Keysight contract at the end of May, we have already signed key distribution agreements with Anritsu and ART-Fi, and are participating in ongoing discussions with additional industry leading manufacturers,” Greenberg said in a prepared statement.
Electro Rent reported its earnings after market close on Thursday. Shares closed Friday up 44 cents or nearly 4.4 percent, to $10.49 on the Nasdaq.
Interlink Electronics Inc. showed improved financial results in the second quarter.
The Westlake Village sensor technology manufacturer reported net income of $481,000 (8 cents a share) for the quarter ending June 30, compared with $423,000 (7 cents) in the same period a year earlier. Revenue increased 6 percent to $2.8 million.
Interlink Chief Executive Steven Bronson said the company was looking to expand its market share, including in automotive where there is the potential for higher unit sales.
“Over the near-term, we do not expect to grow at our historical rates as we pursue opportunities in markets with longer design win cycles,” Bronson said in a prepared statement.
Interlink reported its earnings after market close Thursday. Shares closed Friday down 30 cents or 4 percent, to $7.20 in over-the-counter trading.