Electro Rent Reports 16% Profit Increase

Electro Rent Corp., a Van Nuys provider of electronic-equipment rentals, reported a slight drop in net income and revenue for its fiscal fourth quarter, but a 16% increase in profit for its fiscal year.

In the quarter that ended May 31, Electro posted a 2% drop in profit, to $2.02 million from $2.05 million a year earlier. Revenue dropped 3%, to $25.1 million from $25.9 million a year ago.

For its fiscal year that ended May 31, the company said its profit rose to $8.57 million, from $7.39 million a year ago. Revenue for the fiscal year, $102 million, was flat from a year ago.