Electro Rent Corporation (NASDAQ:ELRC) today announced that Fortune has named Electro Rent to its 2012 list of the “100 Fastest-Growing Companies.”
To be eligible for the "100 Fastest-Growing Companies" list, foreign or domestic companies must meet certain key criteria: be trading on a major U.S. stock exchange; have a market capitalization of at least $250 million; have revenue and net income of at least $50 million and $10 million, respectively, for the four quarters ended on or before April 30, 2012; and have annualized growth in revenue and earnings per share of at least 20 percent over the last three years on or before April 30, 2012.
“We are deeply honored to be recognized for our efforts to grow the company and build shareholder value,” said Daniel Greenberg, Chairman and CEO of Electro Rent. “Against the backdrop of an uneven economy, we attribute our success to investing in our people and product, consummating opportunistic acquisitions and strategic agreements, and most importantly, providing our customers with the highest level flexibility in their equipment procurement decisions.”
Companies that meet these criteria are then ranked by revenue growth rate, earnings per share (EPS) growth rate, and three-year annualized total return for the period ended June 29, 2012. A company's overall standing on the list is based on the sum of these three ranks.In March, Electro Rent also was honored as a Frost & Sullivan 2012 Company of the Year in recognition of its achievements in the North American rental, used and new test equipment market.