American Home Shield 2008 Annual Report Download - page 128
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Table of Contents
Quarterly Operating Results (Unaudited)
Quarterly operating results for the last three years in revenue, gross profit, income from continuing operations, income from discontinued operations and
net income are shown in the table below. As discussed in the "Interim Reporting" section in the Significant Accounting Policies, for interim accounting
purposes, TruGreen LawnCare and other business segments of the Company incur pre-season advertising costs. In addition, TruGreen LawnCare incurs costs
related to annual repairs and maintenance procedures that are performed in the first quarter. These costs are deferred and recognized as expense in proportion
to revenue over the balance of the year. Full year results are not affected.
Successor
Predecessor
(In thousands)
Year Ended
Dec. 31, 2008
July 25, 2007
to Dec. 31, 2007
Jan. 1, 2007
to July 24, 2007
Year Ended
Dec. 31, 2006
Continuing Operations:
Operating Revenue:
First Quarter $ 632,231 $ — $ 673,495 $ 651,290
Second Quarter 997,305 — 1,008,737 992,324
Third Quarter(1) 948,073 690,625 252,158 942,324
Fourth Quarter 733,823 731,733 — 746,765
$3,311,432 $ 1,422,358 $ 1,934,390 $3,332,703
Gross Profit:
First Quarter $ 214,863 $ — $ 230,145 $ 223,673
Second Quarter 407,571 — 418,228 401,346
Third Quarter(1) 388,518 270,098 89,755 362,118
Fourth Quarter 276,284 253,759 — 263,466
$1,287,236 $ 523,857 $ 738,128 $1,250,603
(Loss) Income from Continuing Operations:(2)
First Quarter $ (75,094) $ — $ 10,048 $ 11,705
Second Quarter 20,826 — 90,252 73,857
Third Quarter(1) 18,205 (14,778) (14,611) 60,810
Fourth Quarter(3)(4) (85,810) (81,534) — 38,912
$ (121,873) $ (96,312) $ 85,689 $ 185,284
(Loss) Income from Discontinued Operations:
First Quarter $ (748) $ — $ (1,499)$ (26,018)
Second Quarter (2,736) — (1,621) 3,289
Third Quarter(1) (1,186) (2,591) (1,468) 7,160
Fourth Quarter(3) 144 (24,617) — (16)
$ (4,526) $ (27,208) $ (4,588)$ (15,585)
Net (Loss) Income:(2)
First Quarter $ (75,842) $ — $ 8,549 $ (14,313)
Second Quarter 18,090 — 88,631 77,146
Third Quarter(1) 17,019 (17,369) (16,079) 67,970
Fourth Quarter(3)(4) (85,666) (106,151) — 38,896
$ (126,399) $ (123,520) $ 81,101 $ 169,699
For the 2007 Successor period, the third quarter is made up of the period from July 25, 2007 to September 30, 2007. For the 2007 Predecessor period,
the third quarter is made up of the period from July 1, 2007 to July 24, 2007.
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