Electro Rent Reports Q211 EPS of $0.17

Electro Rent Corporation ELRC today reported a 46% increase in revenues and a 77% increase in net income for its second fiscal quarter ended November 30, 2010. Total revenues for the second quarter of fiscal 2011 grew to $53.3 million from $36.6 million for the same period last year. Net income grew 77% to $7.1 million, or $0.30 per diluted share, for the fiscal 2011 second quarter, from $4.0 million, or $0.17 per diluted share, for the year-ago period.