Electro Rent Corp. on Tuesday said its fiscal third quarter profit fell slightly as defense and aerospace industry customers delayed buying its specialty electronic test and measurement equipment.

The Van Nuys company reported net income of $5 million (21 cents a share) for the quarter ended Feb. 29, compared with $5.08 million (21 cents) in the same period a year earlier. The company had slightly more shares outstanding in the most recent quarter.

Revenue rose 1 percent to $60.1 million, with sales down nearly 8 percent and rentals up 10.5 percent.

Electro Rent, which sells and leases equipment, said its business slowed because of uncertainty among its defense and aerospace industry clients, an important client base. The company also sells to the telecommunications, electronics, and semiconductor industries.

“A challenging budgetary environment in the sector delayed buying decisions while companies come to grips with changes in the defense budget,” Chief Executive Daniel Greenberg, said in a statement. “We believe that when the dust settles, renting test and measurement equipment will emerge as a key alternative to purchasing.”

Shares were down 74 cents, or 4 percent, to $17.95 in midday trading on the Nasdaq.