Electro Rent Quarterly Earnings Drop 10%

Electro Rent Corp., a Van Nuys-based company that leases computer and electronic equipment, reported a 10% earnings decrease for its second quarter that ended Dec. 31, contrasted with the same period a year earlier.

The company reported income of $2.10 million for its latest quarter, down from $2.3 million in December, 1991.

Revenues for the period were $25.1 million, contrasted with $26 million the previous year.

Also, the company announced that it was planning to buy back up to 750,000 shares of its stock, in purchases to be made from time to time on the open market. The company conducted a previous buyback of stock last year, purchasing 702,959 shares. Electro Rent now has 5.6 million shares of common stock outstanding.