|Rollins, Inc. Reports Fourth Quarter And Full Year 2013 Record Financial Results
Company posts 31st consecutive quarter of improved earnings results
ATLANTA, Jan. 29, 2014 /PRNewswire/ --
- Revenue increased 6.0% for the quarter and 5.2% for full year
- Net income up 22.0% for the quarter and 10.8% for the full year
- Earnings per diluted share rose 18.8% for the quarter to $0.19 from $0.16, and up 10.5% to $0.84 from $0.76 for the full year
Rollins, Inc. (NYSE: ROL), a premier global consumer and commercial services company, today reported strong unaudited financial results for its fourth quarter and year ended December 31, 2013.
The Company recorded fourth quarter revenues of $324.7 million, an increase of 6.0% over the prior year's fourth quarter revenue of $306.4 million. Net income increased 22.0% to $28.0 million or $0.19 per diluted share for the fourth quarter ended December 31, 2013, compared to $22.9 million or $0.16 per diluted share for the same period in 2012.
Rollins' revenues for the full year rose 5.2% to $1.337 billion compared to $1.271 billion for the prior year. Rollins' net income for the full year rose 10.8% to $123.3 million, or $0.84 per diluted share, compared to net income of $111.3 million, or $0.76 per diluted share for the same period last year.
Gary W. Rollins, Vice Chairman and Chief Executive Officer of Rollins, Inc. stated, "Once again, the Rollins group of leading pest control companies has achieved our major financial objectives for 2013. These results reflect the execution of our strategic programs that were designed to accelerate our sales, while improving productivity and profit margins."
Mr. Rollins, concluded, "We are thankful and very proud of our people who made 2013 successes possible and who now are clearly focused on achieving our Company's 2014 objectives."
Rollins Inc. is a premier global 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 our focus on achieving the Company's 2014 objectives. 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, 2012.
For Further Information Contact
Harry J. Cynkus (404) 888-2922
ROLLINS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
At December 31, (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, net
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)
Fourth Quarter Ended
Twelve Months Ended
COSTS AND EXPENSES
Cost of services provided
Depreciation and amortization
Sales, general and administrative
(Gain)/loss on sales/impairment of assets, net
Pension settlement loss
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
Fourth Quarter and Full-Year 2013 results on:
Wednesday, January 29, 2014 at:
10:00 a.m. Eastern
9:00 a.m. Central
8:00 a.m. Mountain
7:00 a.m. Pacific
Please dial 877-941-9205 domestic;
at least 5 minutes before start time.
REPLAY: available through February 5, 2014
Please dial 800-406-7325/303-590-3030, Passcode: 4660653
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
SOURCE Rollins, Inc.
|Jan 29, 2014