Electro Rent Corporation (NASDAQ:ELRC) announced today that it was honored as a Frost & Sullivan 2012 Company of the Year in recognition of the company’s achievements in the North American rental, used and new test equipment market. The award was presented at the Frost & Sullivan North American Excellence in Best Practices Awards Banquet yesterday evening at the Loews Coronado Bay hotel in San Diego. According to Frost & Sullivan, Electro Rent received the honor because of its substantial growth in the United States and admirable progress in Canada, despite challenging market conditions across North America. In bestowing the award, Frost & Sullivan called out the strength in Electro Rent’s rental business and strategy, noting the company’s superior product availability and historically high equipment utilization rates, even as its equipment pool has grown significantly. “The strong customer focus on return on invested capital that made renting a more natural alternative for customers, was an opportunity that Electro Rent leveraged to the maximum," said Frost & Sullivan Industry Director Jessy Cavazos. “The company's growth over the past two years is the result of significant risk-taking, both in investing toward its rental inventory and taking on the responsibility to sell new test equipment.” In addition to achievements in the rental market, Frost & Sullivan said that Electro Rent has been very successful in selling new equipment, driven in part by the company’s role as the sole Authorized Technology Partner for Agilent Technologies in North America, through which Electro Rent is responsible for selling Agilent’s product line to small- and medium-sized accounts in the United States and Canada. “Over the last several years, we have considerably strengthened our marketplace position by offering a wide array of equipment acquisition alternatives to customers around the world,” said Daniel Greenberg, CEO of Electro Rent. “As we continuously enhance and diversify our product and service offerings, we will be even better equipped to meet customers’ requirements through what we consider to be the industry’s most robust equipment inventory and most experienced and talented sales and support team.”
The Frost & Sullivan Company of the Year award is given each year to a company that demonstrates excellence in its growth strategy and implementation and recognizes a high degree of product and technology innovation and resulting leadership in customer value and market penetration.About the Frost & Sullivan Best Practices Awards The Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry. About Electro Rent Electro Rent Corporation ( www.ElectroRent.com) is one of the largest global organizations devoted to the rental, leasing and sales of general purpose electronic test equipment, personal computers and servers. "Safe Harbor" Statement: Except for the historical statements and discussions in this press release, the company’s statements above constitute forward-looking statements within the meaning of section 21E of the Securities Exchange Act of 1934. These forward-looking statements, which include, but are not limited to, whether Electro Rent will be able to meet customers’ requirements through its equipment inventory and sales and support team, reflect Electro Rent’s management's current views with respect to future events and financial performance; however, you should not put undue reliance on these statements. When used, the words "expect," "will," "helping," and other similar expressions identify forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties. The company believes its management's assumptions are reasonable; nonetheless, it is likely that at least some of these assumptions will not come true. Accordingly, Electro Rent’s actual results will probably differ from the outcomes contained in any forward-looking statement, and those differences could be material. Factors that could cause or contribute to these differences include, among others, those risks and uncertainties discussed in the company’s periodic reports on Form 10-K and 10-Q and in its other filings with the Securities and Exchange Commission. Should one or more of the risks discussed, or any other risks, materialize, or should one or more of our underlying assumptions prove incorrect, our actual results may vary materially from those anticipated, estimated, expected or projected. In light of the risks and uncertainties, there can be no assurance that any forward-looking statement will in fact prove to be correct. Electro Rent undertakes no obligation to update or revise any forward-looking statements.