The ServiceMaster Company Reports Preliminary First-quarter 2012 Financial Results
- First-quarter operating revenue increased 6.5% to $655 million
- First-quarter operating income increased 130% to $55 million
- First-quarter operating performance improved 32.5% to $101 million
- Customer retention improved at TruGreen, Terminix, American Home Shield and Merry Maids
- Refinanced $600 million of 10.75% senior notes with 8% senior notes in First Quarter
- Amended and extended revolving credit facility to 2017
Memphis, Tenn., May 10, 2012 — The ServiceMaster Company, one of the world’s largest residential and commercial service networks, today announced preliminary, unaudited first-quarter 2012 results, led by a 6.5 percent increase in operating revenue, to $655 million, and a 130 percent increase in operating income, to $55 million, compared to the same period in 2011. The company’s operating performance increased 32.5% to $101 million compared to the same period in 2011.
“I’m extremely pleased by our first-quarter results, which reflect the hard work and continued support of our teams to grow our business rapidly by transforming our customers’ experiences,” said ServiceMaster CEO Hank Mullany. “Not only did we show improved financial results during the quarter, but we also saw improvements in overall customer satisfaction and, as a result, customer retention.
“Although the first quarter constitutes only a small portion of our total year results, we’re certainly off to a strong start and making great strides in fulfilling our mission to simplify and improve the quality of our customers’ lives.”
Please see attached .PDF document for full Segment Review and Forward-looking Statements.
For further information contact:
With a global network of more than 6,900 company-owned, franchise and licensed locations, Memphis-based ServiceMaster is one of the world’s largest residential and commercial service networks. The company’s high-profile brands are TruGreen, Terminix, American Home Shield, ServiceMaster Clean, Merry Maids, Furniture Medic and AmeriSpec. Through approximately 21,000 corporate employees and a franchise network that independently employs over 31,000 additional people, the ServiceMaster family of brands serves more than 8.2 million customers every year. Our brands hold market-leading positions in residential and commercial lawn, tree and shrub care, termite and pest control, home service contracts, furniture repair, home inspections, residential and commercial cleaning and disaster restoration. Go to www.servicemaster.com for more information about ServiceMaster or follow us at twitter.com/ServiceMaster or facebook.com/TheServiceMasterCo.