ServiceMaster Reports First-Quarter Increase

ServiceMaster announced that its first-quarter 2002 revenues were up 2 percent to a total of $747 million. First-quarter earnings were 10 cents per share, compared with 6 cents per share in 2001. The Home Maintenance and Improvement segment was down 3 percent to $281 million. This was due in part to softening demand for plumbing and air-conditioning repairs and a difficult construction market, which resulted in declining revenue and profits at American Residential Services and American Mechanical Services.