ServiceMaster, parent company of Terminix, reported an 8 percent increase in revenue, as well as growth of net income in the fourth quarter of 2014.
ServiceMaster reported fourth quarter revenue of $577 million across all of its business segments. Revenue for the year also increased more than 7 percent to more than $2.45 billion.
After reporting a net loss for the fourth quarter of 2013, ServiceMaster saw net income of $20 million, or 15 cents per share in the fourth quarter of 2014. The company still saw a net loss of $57 million for all of 2014. ServiceMaster's income was impacted by a $100 million loss from discontinued operations associated with the spinoff of TruGreen, which occurred in January 2014. The company also incurred losses that were tied in with its initial public offering last summer. ServiceMaster, which had been privately held for seven years, offered 41.3 million shares of stock during the IPO. Last month, the company announced plans to offer another 25 million shares of stock.
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Source: Memphis Biz Journal
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