Electro Rent Revenue Down, Profit Flat

Electro Rent Corp., which rents and leases telecommunications testing equipment, personal computers and other products, said its fiscal fourth-quarter profit was virtually flat compared with a year earlier, while its revenue fell 7%.

In the quarter that ended May 31, Electro Rent’s net income was $1.85 million compared with $1.83 million a year earlier, and its revenue dropped to $26.7 million from $28.6 million. The company said that “industry conditions were soft and uncertain,” and that demand for used equipment dropped sharply.

For its full fiscal year, Electro Rent’s profit fell 12% to $7.03 million from $7.94 million, and its annual revenue slipped 6% to $107.6 million from $114.5 million.