Cleaning & Maintenance Management Online

ServiceMaster suffers $126 million net loss

April 2, 2009
MEMPHIS, TN — The ServiceMaster Company recently reported a fiscal year 2008 net loss of $126.4 million, nearly triple that of 2007, according to the Memphis Business Journal.
Total 2008 revenue was $3.31 billion, slightly less than 2007''s $3.36 billion in revenue, the story stated.
Though income increased from $177.2 million to $197.8 million, a 66 percent increase in interest on the company''s $4.3 billion debt erased any profits, the story noted.
ServiceMaster is privately held, but continues to provide financial reporting to the Securities and Exchange Commission because they hold public debt, the story added.
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