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Terminix Reports Q4 Revenues

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Terminix reported fourth-quarter operating revenue of $274 million, an increase of 2.3 percent over fourth-quarter 2010 results.

| March 2, 2012

The ServiceMaster Company, parent company of Terminix, reported fourth quarter results.

Terminix reported fourth-quarter operating revenue of $274 million, an increase of 2.3 percent over fourth-quarter 2010 results. The growth in operating revenue was primarily driven by pest control, which reflects a 6.4 percent increase in pest control customer counts and a 1 percent increase in average annual account value. The increase in pest control customer counts was driven by an increase in new unit sales, acquisitions and a 70 basis point increase in the customer retention rate. Operating revenue was impacted by a 1 percent decline in termite renewal customer counts, which was partially offset by an increase in average price. The decline in termite customer counts was driven by a decrease in new unit sales, partially offset by a 10 basis point increase in the customer retention rate.

Fourth-quarter operating performance was $69 million, an increase of 29 percent compared to fourth-quarter 2010 results. The improvement was primarily due to the impact of higher revenue, branch labor efficiencies, lower termite damage claims and other cost reductions realized through ongoing initiatives and lower legal-related expenses. This improvement was partially offset by higher fuel prices.

Click here to view the entire report.

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