Mobile Modular is the largest provider of relocatable classrooms for rental to school districts for grades K - 12 in California. As well, McGrath's 73%-owned subsidiary, Enviroplex Inc., manufactures and sells classrooms directly to school districts in California. McGrath's RenTelco division rents and sells electronic test equipment, the majority of which are instruments manufactured by Hewlett-Packard and Tektronix.

For the nine months ended Sept. 30, McGrath RentCorp revenues rose 28% to $123.7 million. Net income before an accounting change rose 18% to $21.1 million. At the close of markets Tuesday, the company's share price stood at $18.33, off a little more than $1 from Friday's close but well above its 52-week low of $14, which came on April 19, 2000. It's 52-week high of $19.875 came a few months ago on Oct. 13.