Plumbing and Mechanical

Chemed's Roto-Rooter Income Increases 38 Percent

March 19, 2001
Chemed Corp. reported that, for the year 2000, earnings from continuing operations rose to $1.86 per share from $1.60 in 1999. These results were highlighted by a 38 percent increase in fourth-quarter net income at Chemed's largest subsidiary, Roto-Rooter Inc. Revenues at Roto-Rooter rose to $281.1 million from $242.8 million in 1999. During 2000, Roto-Rooter completed three franchise acquisitions, contributing $9.1 million to the year's revenues.

Fueling Roto-Rooter's net income growth during 2000 was a 15 percent increase in plumbing revenues, coupled with a 22 percent increase in drain cleaning revenues. Roto-Rooter broadened its sales of equipment and products to the plumbing and drain cleaning industry, as well as increased sales of drain care products by technicians to customers."