Roto-Rooter Reports Lower Earnings, Revenues In 2Q
September 2, 2003
Roto-Rooter reported net income of 28 cents a share for the second quarter of 2003, compared with net income of 46 cents per share for the same period in 2002. Service revenues and sales from continuing operations were $77.3 million, down slightly from 2002’s $79.1 million. The Plumbing and Drain Segment saw a revenue increase of 2 percent, but an earnings decrease of 24 percent. This is a result of increased investments in marketing and higher general and administrative expenses, the company said.