MEMPHIS - The ServiceMaster Co.'s first quarter 2009 revenues rose 2.1 percent and the company turned a profit, helped by lowered costs for goods and services.
The Memphis-based business and consumer services company posted net income of $549,000 on total operating revenue of $645.9 million for the quarter ended March 31, according to financial statements filled with the U.S. Securities and Exchange Commission. The Terminix division generated the lion’s share of that revenue at $263.2 million, followed by TruGreen Lawn Care, $134.7 million, American Home Shield, $130.9 million and TruGreen Land Care, $66.9 million.
The positive net income in the quarter compared to a loss of $75.8 million in the year-ago quarter. The company cited a 5.5 percent drop in the cost of goods and services sold. The company spent $394 million in the quarter, down from $417.4 million in the year-ago quarter.
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Source: Memphis Business Journal
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