Electro Rent Corp. Reports 1st-Quarter Profit Up 34%

Electro Rent Corp., a Van Nuys-based company that rents computer equipment, said its profit for the fiscal first quarter that ended Aug. 31 was $3.55 million, up 34% from $2.65 million in the same period a year earlier.

Revenues were up slightly to $27.8 million from $27.5 million in the first quarter last year.

The company said sales in its rental and leasing operations improved slightly while bank borrowings decreased during the quarter.