Electro Rent’s Profit Surges 59% in Quarter

Electro Rent Corp. saw its third-quarter profit jump 59% on a 12% rise in revenue.

The Van Nuys-based concern, which rents personal computers and various electronic test equipment, posted a $4.9-million profit for the quarter that ended in February, compared to a $3.1-million profit in the same period the year earlier. Revenue for the latest quarter was $33.9 million, up from $30.3 million a year ago.

For the nine-month period, Electro Rent saw its net income jump 51% to $15.6 million from $10.3 million last year. Revenue for the nine months rose 16% to $102.8 million, up from $88.8 million a year earlier.

In late March the company purchased LDI Computer Rentals Inc., which will expand Electro Rent’s personal-computer rental business in Ohio, Michigan and Georgia.