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Last $10.14 USD
Change Today -0.05 / -0.49%
Volume 43.3K
ELRC On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

electro rent corp (ELRC) Key Developments

Electro Rent Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended February 28, 2015

Electro Rent Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended February 28, 2015. For the quarter, total revenues were $56.3 million, compared with $62.0 million for the same quarter one year ago. Operating profit for the third quarter of fiscal 2015 was $3.7 million against $7.2 million for the third quarter of fiscal 2014. The change principally related to the decline in revenues. Income before income taxes was $3.7 million against $7.3 million last year. Net income totaled $2.4 million, or $0.10 per basic and diluted share compared with $4.5 million, or $0.19 per basic and diluted share last year. For the nine months, total revenues were $177.9 million compared with $180.1 million for the comparable period last year. Operating profit was $17.4 million against $24.9 million last year. Income before income taxes was $19.0 million against $25.2 million last year. Net income for the first nine months of fiscal 2015 was $12.0 million, or $0.49 per basic and diluted share compared with $15.8 million or $0.65 per basic and diluted share for the corresponding period of fiscal 2014. Net income for the fiscal 2015 period included $1.4 million, before tax, in income related to a settlement received from a class action lawsuit involving the purchase of certain computer products, and a $1.3 million reduction in sales of equipment and other revenues, before tax, related to a non-recurring, out-of-period adjustment.

Electro Rent Corporation Declares Regular Quarterly Cash Dividend, Payable on April 10, 2015

Electro Rent Corporation announced that its board of directors has declared a regular quarterly cash dividend of $0.20 per common share. The dividend will be paid on April 10, 2015 to shareholders of record as of March 20, 2015.

Electro Rent Corporation Announces Non-Renewal of Authorized Technology Partner Agreement

Electro Rent Corporation announced that its Authorized Technology Partner (ATP) agreement with Keysight Technologies Inc. will not be renewed after its May 31, 2015 expiration date. Electro Rent will continue to sell used equipment, and rent and lease equipment made by Keysight and other manufacturers, directly to customers in North America and globally. The ATP agreement contributed approximately $52 million in sales revenue to Electro Rent from reseller activities for the first nine months of the current fiscal year.

Electro Rent Promotes Allen Sciarillo to Vice President, Finance

Electro Rent Corporation announced the promotion of Allen Sciarillo, who most recently served as the company's Controller, to Vice President, Finance. In his new role, Sciarillo, 50, will oversee internal and external financial reporting, financial planning and daily operations of the finance and accounting department. Sciarillo has nearly 30 years of finance and accounting experience. Prior to joining Electro Rent as Controller in 2006, he served as Chief Financial Officer of Dial Thru International Corporation, InterPacket Networks and RSL COM USA.

Electro Rent Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended November 30, 2014

Electro Rent Corporation reported unaudited consolidated earnings results for the second quarter and six months ended November 30, 2014. For the quarter, the company’s total revenues were $59,703,000 against $57,876,000 a year ago. Operating profit was $6,227,000 against $8,912,000 a year ago. Income before income taxes was $7,696,000 against $8,999,000 a year ago. Net Income was $4,795,000 or $0.20 per basic and diluted share against $5,581,000 or $0.23 per basic and diluted share a year ago. The decline in operating profit was principally related to a decrease in higher margin rentals, which was partially offset by an increase in lower margin sales. For the six months, the company’s total revenues were $121,574,000 against $118,044,000 a year ago. Operating profit was $13,686,000 against $17,698,000 a year ago. Income before income taxes was $15,258,000 against $17,867,000 a year ago. Net Income was $9,566,000 or $0.39 per basic and diluted share against $11,278,000 or $0.46 per basic and diluted share a year ago.

 

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Company Last Change
Continental Resources Inc/OK $46.63 USD -0.35
Continental Resources Inc/MA $425.04 USD 0.00
Keysight Technologies Inc $33.08 USD +0.05
McGrath RentCorp $30.94 USD -0.27
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Valuation ELRC Industry Range
Price/Earnings 15.0x
Price/Sales 1.0x
Price/Book 1.1x
Price/Cash Flow 14.8x
TEV/Sales 1.0x
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