Electro Rent Corp (ELRC) Misses Q1 EPS by 4c

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Electro Rent Reports Fiscal 2016 First Quarter Financial Results

October 8, 2015 4:05 PM EDT

VAN NUYS, Calif.--(BUSINESS WIRE)-- Electro Rent Corporation (Nasdaq: ELRC) today reported financial results for the fiscal first quarter ended August 31, 2015.

Our results for the quarter reflect a time of transition for our company, said Daniel Greenberg, Chairman and CEO of Electro Rent. As expected, our top line was impacted by a significant reduction in new equipment sales resulting from the end of our agreement with Keysight Technologies. On the positive side, used equipment sales were up for the first quarter, and equipment rentals, our primary business sector, only declined... More