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ServiceMaster Reports 'Modest' Q1 Growth

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The parent company of Terminix reported increased first quarter 2011 revenues of $615 million, up 5.9 percent from the first quarter of 2010.

| May 27, 2011

 
Months after Memphis-based The ServiceMaster Co. sold off its TruGreen LandCare subsidiary, the new ServiceMaster CEO said TruGreen lawn services has to improve its performance for investors and for clients of the lawn maintenance service, according to an article in the Memphis Daily News.

ServiceMaster CEO Hank Mullany was blunt about what he considers TruGreen’s poor performance as well as plans for expanding ServiceMaster’s reach.

“These results simply aren’t acceptable,” Mullany told investors and analysts Wednesday, May 25, on a first quarter financial results conference call.

The ServiceMaster Co. reported increased first quarter 2011 revenues of $615 million, up 5.9 percent from the first quarter of 2010.

The company’s first quarter earnings call Wednesday was the first since Mullany became CEO in April.

Interim Chief Financial Officer David Martin termed the results “modest growth in revenue and operating performance” for a quarter that is traditionally “the least important reporting period” for the company.

Source: Memphis Daily News

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