The ServiceMaster Co. reported its net loss nearly tripled last year to $126.4 million.
Total operating revenue was $3.31 billion for 2008 compared to $3.36 billion in 2007, according to its annual report filed with the Securities and Exchange Commission.
Operating income was $197.8 million, up from $177.2 million in 2007. Though operating income jumped, the company was hammered, in part, by an almost 66 percent increase in interest expense to service the company’s $4.3 billion in debt.
Interest expense increased to $347.2 million in 2008 from $209.6 million in 2007.
ServiceMaster is now privately held, but continues to provide financial reporting to the SEC because the company holds public debt.
Based in Memphis, ServiceMaster serves residential and commercial customers through its brands TruGreen, TruGreen LandCare, Terminix, American Home Shield, InStar Services Group, ServiceMaster Clean, Merry Maids, Furniture Medic and AmeriSpec. The company has about 2,200 local employees.
Total operating revenue was $3.31 billion for 2008 compared to $3.36 billion in 2007, according to its annual report filed with the Securities and Exchange Commission.
Operating income was $197.8 million, up from $177.2 million in 2007. Though operating income jumped, the company was hammered, in part, by an almost 66 percent increase in interest expense to service the company’s $4.3 billion in debt.
Interest expense increased to $347.2 million in 2008 from $209.6 million in 2007.
ServiceMaster is now privately held, but continues to provide financial reporting to the SEC because the company holds public debt.
Based in Memphis, ServiceMaster serves residential and commercial customers through its brands TruGreen, TruGreen LandCare, Terminix, American Home Shield, InStar Services Group, ServiceMaster Clean, Merry Maids, Furniture Medic and AmeriSpec. The company has about 2,200 local employees.