Cleaning & Restoration Breaking News

ServiceMaster posts lower Q4 profits

ServiceMaster Co. has posted lower fourth-quarter profits and warned that 2001 profits might fall short of current expectations.

Downers Grove, Ill. -- ServiceMaster Co., a maintenance services provider, has posted lower fourth-quarter profits and warned that 2001 profits might fall short of current expectations. ServiceMaster's shares have underperformed the Standard & Poor's Index by more than 10% over the past year. Known for its cleaning, lawn maintenance, pest control, and other services, the company has posted fourth quarter earnings of $31.8 million or 11 cents a share, comparable with $53.3 million or 17 cents a share the previous year. According to the company, fourth-quarter revenues decreased 3 percent to $1.42 billion, down from $1.46 billion last year. Fourth-quarter earnings were somewhat lower than its previous estimate as severe weather conditions at the end of November and during December affected production levels in a number of its major markets, the company says. ServiceMaster has sold or discontinued nonprofitable or noncore business units, yet 2001 will be hurt by added interest costs and pressures on operating margins. ServiceMaster says it plans to invest in technology, systems and marketing.

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

The 2014 Experience Conference and Exhibition

A look in photos at the 2014 Experience Conference and Exhibition, which was held from April 24-26 at the Embassy Suites Convention Center and Spa in Frisco, Texas.

Podcasts

Beginning April 21, Google will start judging websites based on their mobile friendliness. What exactly does this mean to you cleaning website? Find out in the latest edition of The Hitman Advertising Show, which will also cover tips and suggestions on getting mobile compliant.
More Podcasts

ICS Cleaning Specialist Magazine

CoverImage

2015 April

The April ICS issue features content on concrete polishing, green cleaning, air duct cleaning, injection sprayers and new products.

Table Of Contents Subscribe

Janitorial Work

In addition to residential and commercial carpet cleaning, do you do any janitorial work on the side?
View Results Poll Archive

THE ICS STORE

FinalCover.gif
The Carpet Cleaner's Book of Unlimited Success! (ebook)

Don’t worry about the recession or about your competition.  Now you can be the owner of over 400 ways for carpet cleaning professionals to make more money and get more jobs!

More Products

ICS DIRECTORY AND BUYING GUIDE

Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view

STAY CONNECTED

facebook_40.png twitter_40px.png youtube_40px.png

TRUCKMOUNT EQUIPMENT AND ACCESSORIES GUIDE

Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view