On a comparable basis, third quarter 2002 earnings were at the same level as the prior year. The 2001 figures on a comparable basis include adjustments to reflect accounting changes and the effect of debt repayments.

For the first nine months of 2002, revenues of $2.8 billion were up 2% over the year ago period. Earnings per share from continuing operations were $0.46. On a comparable basis, nine-month earnings per share in 2001 were $0.47.

“Our performance demonstrates that we are able to stay on track even in a tough economic environment,” said Jonathan Ward, chairman and chief executive officer of ServiceMaster. “We are pleased with our growth and strong cash flow achieved in spite of the sluggish economy and falling consumer confidence. Our accomplishments this quarter reflect the ability of our team to bring energy and discipline to their work.”

Publication date: 10/28/2002