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Stock Market & Financial Investment News

News Breaks
January 9, 2013
16:07 EDTELRCElectro Rent reports Q2 EPS 26c, one estimate 22c
Reports Q2 revenue $65.2M, vs $61.6M a year ago.
News For ELRC From The Last 14 Days
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March 3, 2015
08:06 EDTELRCElectro Rent reports Keysight will not renew partner agreement
Electro Rent (ELRC) announced that its Authorized Technology Partner agreement with Keysight Technologies, (KEYS), formerly a unit of Agilent Technologies, will not be renewed after its May 31 expiration date. Electro Rent will continue to sell used equipment, and rent and lease equipment made by Keysight and other manufacturers, directly to customers in North America and globally. Under the agreement, which has been in effect since 2009, Electro Rent has been the exclusive reseller of new Keysight test and measurement equipment for sale in the United States and Canada. As a result of the non-renewal, Electro Rent will gain the flexibility to explore new and different distribution agreements and Keysight will resume direct marketing to customers as an independent company. The ATP agreement contributed approximately $52M in sales revenue to Electro Rent from reseller activities for the first nine months of the current fiscal year. “While ending the agreement will negatively impact our revenue in the coming fiscal year, and we will remain alert to the need to align our expenses with our revenues, we look forward to identifying additional areas of growth. We are confident that Electro Rent’s ability to meet and exceed our customers’ expectations will remain unfettered,” said Daniel Greenberg, Chairman and CEO of Electro Rent.

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