|Rollins, Inc. Reports Third Quarter And Nine Months 2012 Financial Results
ATLANTA, Oct. 24, 2012 /PRNewswire/ -- Rollins, Inc. (NYSE: ROL), a premier North American consumer and commercial services company, today reported strong unaudited financial results for its third quarter ended September 30, 2012.
The Company recorded third quarter revenues of $340.2 million, an increase of 5.0% over the prior year's third quarter revenue of $323.9 million. Net income increased 9.5% to $32.2 million or $0.22 per diluted share for the third quarter ended September 30, 2012, compared to $29.4 million or $0.20 per diluted share for the same period in 2011.
Rollins' revenues rose 5.3% for the first nine months of 2012 to $964.5 million compared to $916.0 million for the prior year. Net income for the first nine months of 2012 was $88.4 million, or $0.60 per diluted share, compared to net income of $79.1 million, or $0.54 per diluted share for the same period last year.
At yesterday's Board of Directors meeting, the Board of Directors declared a regular quarterly cash dividend on its common stock of $0.08 per share plus a special year-end dividend of $0.12 per share both payable December 10, 2012 to stockholders of record at the close of business November 09, 2012.
Gary W. Rollins, President and Chief Executive Officer of Rollins, Inc. stated, "We are very pleased with our financial results for the third quarter and first nine months of fiscal 2012. Our revenue growth was strong across the Company, which reflects the positive results we are receiving from the investments we have made. We again improved our profit margins with favorable revenue to profit conversion."
Mr. Rollins, concluded, "We are optimistic about concluding another successful year while gaining market share and delivering value to our customers and shareholders."
Rollins Inc. is a premier North American consumer and commercial services company. Through its wholly owned subsidiaries, Orkin LLC., HomeTeam Pest Defense, Western Pest Services, Orkin Canada, The Industrial Fumigant Company, Waltham Services LLC., Crane Pest Control and Trutech LLC., the company provides essential pest control services and protection against termite damage, rodents and insects to more than 2 million customers in the United States, Canada, Central America, South America, the Caribbean, the Middle East, Asia, the Mediterranean, Europe, Africa and Mexico from more than 500 locations. You can learn more about our subsidiaries by visiting our web sites at www.orkin.com, www.pestdefense.com, www.westernpest.com, www.orkincanada.ca, www.indfumco.com, www.walthamservices.com, www.cranepestcontrol.com, www.trutechinc.com and www.rollins.com. You can also find this and other news releases at www.rollins.com by accessing the news releases button.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This release contains statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements about the Company's optimism about having another successful year while still gaining market share and delivering value to our customers and shareholders. The actual results of the Company could differ materially from those indicated by the forward-looking statements because of various risks and uncertainties, including without limitation, economic and competitive conditions which may adversely affect the Company's business; the degree of success of the Company's pest and termite process, and pest control selling and treatment methods; the Company's ability to identify and integrate potential acquisitions; climate and weather trends; competitive factors and pricing practices; the Company's ability to attract and retain skilled workers, and potential increases in labor costs; uncertainties of litigation; and changes in various government laws and regulations, including environmental regulations. All of the foregoing risks and uncertainties are beyond the ability of the Company to control, and in many cases the Company cannot predict the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. A more detailed discussion of potential risks facing the Company can be found in the Company's Report on Form 10-K filed with the Securities and Exchange Commission for the year ended December 31, 2011.
ROLLINS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
At September 30, (unaudited)
Cash and cash equivalents
Trade accounts receivables, net
Financed receivables, net
Materials and supplies
Deferred income taxes, net
Other current assets
Total Current Assets
Equipment and property, net
Customer contracts and other intangible assets, net
Deferred income taxes
Financed receivables, long-term, net
Accrued insurance, current
Accrued compensation and related liabilities
Other current liabilities
Total Current Liabilities
Accrued insurance, less current portion
Long-term accrued liabilities
Retained earnings and other equity
Total stockholders' equity
Total Liabilities and Stockholders' Equity
ROLLINS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in thousands except per share data)
Third Quarter Ended
Nine Months Ended
COSTS AND EXPENSES
Cost of services provided
Depreciation and amortization
Sales, general and administrative
INCOME BEFORE INCOME TAXES
PROVISION FOR INCOME TAXES
NET INCOME PER SHARE - BASIC
NET INCOME PER SHARE - DILUTED
Weighted average shares outstanding - basic
Weighted average shares outstanding - diluted
CONFERENCE CALL ANNOUNCEMENT
Management will hold a conference call to discuss
Third Quarter 2012 results on:
Wednesday, October 24, 2012 at:
10:00 a.m. Eastern
9:00 a.m. Central
8:00 a.m. Mountain
7:00 a.m. Pacific
Please dial 877-941-8609 domestic;
at least 5 minutes before start time.
REPLAY: available through October 31, 2012
Please dial 800-406-7325/303-590-3030, Passcode: 4568454
THIS CALL CAN ALSO BE ACCESSED THROUGH THE INTERNET AT
Contact Samantha Alphonso at Financial Relations Board at 212-827-3746
Or email to firstname.lastname@example.org
For Further Information Contact
Harry J. Cynkus (404) 888-2922
SOURCE Rollins, Inc.
|Oct 24, 2012