October 9, 1998 |
Electro Rent Corp. said it has reduced its work force by 8%, or 75 jobs, since July and plans to cut another 75 as the short-term rental company tries to rein in costs. The Van Nuys-based company, which is the largest short-term renter of computers and general electronics-testing equipment, said it reduced its head count from a peak of 934 in July. Additional reductions will occur in the next three to six months, Chief Financial Officer Craig Jones said.
September 13, 1988
SFE Technologies in San Fernando agreed to sell its Electro Dynamics Division to a group of Colorado investors for $3.2 million in cash and notes. The division, based in Overland Park, Kan., makes quartz crystal frequency control devices, which are components used in various consumer products such as color televisions, telephones and radios.
December 7, 1989
Brian R. Bachman has been named general manager of the components systems group of ITT ElectroMechanical Components Worldwide, Santa Ana. He succeeds William Sekeres, who is now responsible for operations of the ITT Cannon components division. Bachman was formerly president and chief executive of General Semiconductor Industries in Tempe, Ariz. Previously, he held marketing-management positions with TRW and General Electric.
January 14, 1992
Electro Rent Corp., citing higher equipment rentals and lower interest costs on its debt, said its fiscal second-quarter profit jumped 31% from a year earlier despite little change in revenue. The Van Nuys-based company, which rents and leases electronic equipment and computers to businesses, said net income in the quarter that ended Nov. 30 rose to $2.34 million from $1.78 million a year earlier. Its revenue inched up 1% to $26.0 million from $25.7 million.
January 24, 1995
Electro Rent Corp., a Van Nuys concern that leases personal computers and other electronic equipment, said its net income rose to record levels in the second quarter and six-month period that ended Nov. 30. The company reported a profit of $3.65 million for the quarter, up 26% from $2.89 million a year earlier. Sales jumped to $30.8 million in the second quarter, up 12% from $27.5 million in the same three-month period of 1993. For its six-month period, the company reported earnings of $7.
October 8, 1986
In the first earnings report since its reverse acquisition in April, Electro Funds Corp. and its wholly owned subsidiary Complete Management Systems reported net earnings for the year of $1 million, up from $120,122 for the prior year. Revenues for the year also rose to $41.1 million from $10.3 million in 1985.
August 15, 1995
Electro Rent Corp., a Van Nuys company which rents computer equipment, posted record sales and earnings for the fiscal fourth quarter and year that ended May 31. Earnings for the fourth quarter were $4.27 million, up 34% from $3.18 million a year earlier. Sales for the quarter were $32.6 million, up 14% from $28.6 million in the same quarter a year ago. For the full year, earnings rose 26% to $14.56 million, from $11.6 million. Revenues were $121.4 million, up 9% from $111.
CALIFORNIA | LOCAL
August 15, 2000 |
Teleplan International N.V., a Europe-based service provider for information technology hardware, has acquired Ventura-based ElectroService Laboratories and two of its affiliates. Terms of the transaction were not disclosed. Teleplan is a public company traded on the Frankfurt, Germany, exchange. ESL was founded by John Morgan in 1985. Both ESL and the affiliates are owned and managed by Morgan, who will continue to oversee operations.