Dwyer Group Forms New Software Subsidiary

October 7, 2003
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The Dwyer Group, parent company of the Mr. Rooter plumbing franchise, announced the formation of a new subsidiary company called Zorware Inc., which acquired the assets of Cleveland-based Neocom Inc. The company was the software developer of Z-Ware, a proprietary software for Dwyer designed to connect franchise owners, employees and service/repair technicians via the Internet.

Neocom’s Cleveland office has closed and personnel have moved to Dwyer’s headquarters in Waco, Texas. Tom Thomas was named president of Zorware and Laurie Wotawa was named vice president of operations.

In other news, the company reported second-quarter 2003 revenues of $6.8 million, an increase of 2 percent from the same period last year. Net income was $604,000, or 8 cents per diluted share, compared to $741,000, or 10 cents per share, in the second quarter of 2002. The earnings reduction was due to expenses associated with the company’s proposed merger.

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