Net Income Increases 9% at El Camino Resources

El Camino Resources, a privately held Northridge company that leases and sells mainframe and mid-range computers, said its net income grew 9% to $3.3 million in the fiscal year that ended April 30 from $3 million in fiscal 1989. Revenues increased 62% to $255 million from $157.2 million.

Though privately held companies are not required to disclose their financial results to the public, El Camino said it did so to show its “unique combination of prudent business and accounting practices.” At a time when other leasing companies are experiencing financial troubles, El Camino originated $100 million in new leases in fiscal year 1990, up 18% from the prior year, the company said.