Exhibit 99
The Dwyer Group, Inc. Reports 26 Percent Increase in 2002 Net Income
WACO, Texas--(BUSINESS WIRE)--March 6, 2003--The Dwyer Group,
Inc., (Nasdaq:DWYR) (the "Company") today reported a net profit of
$2.9 million or $.40 per share, on a diluted basis, for the year ended
December 31, 2002, versus a net profit of $2.3 million or $.33 per
share for the year ended December 31, 2001. Revenues for 2002
increased by 16% to $25.9 million from $22.4 million in 2001.
For the fourth quarter of 2002, the Company earned $799,000 or
$.11 cents per share, on a diluted basis, versus $485,000 or $.07
cents per share in 2001, an increase of 65%. Revenues for the quarter
increased 10% to $6.8 million in 2002 from $6.2 million in 2001.
"We are excited to report a continuation of the strong growth rate
we have established over the past few years," said Dina Dwyer-Owens,
President and CEO. "Our successful track record is a reflection of the
achievements of our franchisees, who are dedicated to their businesses
and their customers."
The Dwyer Group, Inc., supports over 800 franchisees in the United
States and Canada, and, through master licensees, approximately 275
franchisees in 15 other countries operating the following concepts:
Mr. Rooter(R), Rainbow International(R), Glass Doctor(R), Mr.
Electric(R), Mr. Appliance(R) and Aire Serv(R).
The Dwyer Group, Inc.
Summary Consolidated Operating Results
(In Thousands, Except Per Share Amounts)
For the Year Ended For the Quarter Ended
December 31, December 31,
----------------------- ---------------------
2002 2001 2002 2001
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Royalty Revenues $14,422 $12,892 $3,984 $3,629
Franchise Fees 6,296 4,557 1,531 1,233
Other Revenues 5,148 4,916 1,265 1,303
----------- ----------- ------------- -------
Total Revenues $25,866 $22,365 $6,780 $6,165
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Pre-Tax Income $4,629 $3,429 $1,254 $846
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Net Income $2,946 $2,338 $799 $485
=========== =========== ============= =======
Basic Earnings Per
Share $.42 $.33 $.11 $.07
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Diluted Earnings Per
Share $.40 $.33 $.11 $.07
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For general information regarding The Dwyer Group or its franchise
concepts, visit the company's web site at http://www.dwyergroup.com.
Forward-looking statements in this release are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Such forward-looking statements are subject to certain
risks and uncertainties that could cause actual results to differ from
those projected. Such risks and uncertainties include, but are not
limited to, general business conditions, competition, taxes, inflation
and government regulations.
CONTACT: The Dwyer Group, Inc., Waco
Tom Buckley, 254/745-2482 or 800/490-7501