ServiceMaster's ARS And AMS Segments Show Growth
The American Residential Services (ARS) and American Mechanical Services (AMS) segment of ServiceMaster reported full year revenues of $691 million in 2004, up 3 percent compared to the prior year. The segment experienced strong growth in AMS' commercial project revenue, solid gains in residential construction and modest growth in plumbing services. This growth was partially offset by weather-related declines in HVAC revenue and the grow-over effects of year-end 2003 branch closures. Excluding branch closures, revenues increased 6 percent for the year. Operating income increased in 2004 at a reported $6 million, compared to a loss of $(282) million in 2003.