How's this pedigree? ServiceMaster (NYSE:SVM) is a Motley Fool Income Investor recommendation that's 1.93% owned by billionaire super-investor Warren Buffett's Berkshire Hathaway (NYSE:BRKA) (NYSE:BRKB). Its latest numbers help to explain why.

From lawn care to pest control, ServiceMaster is the company residential and commercial customers turn to when they want to outsource everyday needs. It's not a high-growth business, but ServiceMaster trades for a modest 12 times trailing earnings, and its dividend yield is a not-so-modest 2.4%.

After reviewing last quarter's results, I concluded: "With double-digit earnings growth projected in the future, and the company investing heavily in infrastructure to support its long-term prospects, the stock is tempting (to me) as a way to meet or beat the stock market's long-term performance."

In today's second-quarter results, earnings increased 13% year over year on 8% revenue growth. More importantly, operating income shot up 18.1%. Those results include a $6 million favorable non-recurring adjustment in 2004.

At 26% of sales and 39.6% of operating profit, termite and bug exterminator Terminix put in a standout performance for the company. An expanded sales force, an increased geographic presence, and a new termite bait product helped realize those results.

ServiceMaster's largest business, lawn-care specialist Tru Green (40.7% of sales, 47.3% of profits) contributed a 5% sales increase but only a 4% improvement in operating profits. Furthermore, its numbers this quarter were helped by delayed first-quarter revenue. Although ServiceMaster says it's confident of the future success of this business, Tru Green's $2 million (3%) decrease in H1 2005 profits compared to the year-ago period is not encouraging.

We live in the era of the do-it-yourselfer. Motley Fool Inside Value recommendation Home Depot (NYSE:HD) and Lowe's (NYSE:LOW) are expected to grow annual earnings by 14% and 18%, respectively, over the next five years. But ServiceMaster, the king of let-someone-else-do-it, is expected to muster 10% annual growth over the same period. While the stock hardly promises bottle-rocket performance, its slow, steady growth in both income and dividends can provide a market-matching or market-beating total return for you and Mr. Buffett.

Further Foolishness, at your service:

Are you looking for great companies that offer both long-term earnings and dividend growth? A free trial to Motley Fool Income Investor can help narrow your search.

Fool contributor W.D. Crotty owns shares in Berkshire Hathaway and Home Depot. Click here to see the Motley Fool's disclosure policy.