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As of 4:30 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

electro rent corp (ELRC) Key Developments

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.

Electro Rent Corporation announced delayed 10-Q filing

On 01/12/2015, Electro Rent Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

Electro Rent Corporation Declares Regular Quarterly Cash Dividend, Payable on January 9, 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 January 9, 2015 to shareholders of record as of December 19, 2014.

Electro Rent Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended August 31, 2014

Electro Rent Corporation announced unaudited consolidated earnings results for the first quarter ended August 31, 2014. For the quarter, total revenues were $61,871,000 compared to $60,168,000 a year ago. Operating profit was $7,459,000 compared to $8,786,000 a year ago, the decline principally reflected an increase in lower margin sales, which was more than offset by decreases in higher margin rentals. Income before income taxes was $7,562,000 compared to $8,868,000 a year ago. Net income was $4,771,000 or $0.20 basic and diluted per share compared to $5,697,000 or $0.23 basic and diluted per share a year ago. The net book value was $222.1 million at August 31, 2014, compared with $221.9 million at May 31, 2014.

 

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