PRESS RELEASE FOR 10-K
Published on March 19, 2004
Exhibit 99.1 For Further Information Contact
Harry J. Cynkus (404) 888-2922
ROLLINS, INC. FILES FORM 10-K FOR YEAR ENDED DECEMBER 31, 2003
Final Results Reflect Increase in Provision for Income Taxes
ATLANTA, GEORGIA, March 16, 2004: Rollins, Inc., a nationwide consumer services
company (NYSE:ROL), today announced that it filed Form 10-K for the year ended
December 31, 2003 with the Securities and Exchange Commission on March 15, 2004.
On February 17, 2004, the Company released preliminary unaudited results for the
year ended December 31, 2003 of income before income taxes of $60.0 million and
net income of $36.9 ($0.80 per diluted share). The Company's final results of
net income of $35.8 ($0 .77 per diluted share) reflect an increase in the
provision for income taxes of approximately $1.1 million for "true up"
adjustments to the income tax accounts. There was no change to the previously
reported income before income taxes of $60.0 million.
Rollins, Inc. is one of the nation's largest consumer services companies.
Through its wholly owned subsidiary, Orkin, Inc., the Company provides essential
pest control services and protection against termite damage, rodents and insects
to approximately 1.6 million customers in the United States, Canada and Mexico
from over 400 locations. You can learn more about Orkin by visiting our Web
sites at www.orkin.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 The above release contains
statements that constitute "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. 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, general economic conditions; market risk; changes in industry
practices or technologies; the degree of success of the Company's pest and
termite process reforms and pest control selling and treatment methods; the
Company's ability to identify potential acquisitions; climate and weather
trends; competitive factors and pricing practices; the cost reduction benefits
of the corporate restructuring may not be as great as expected or eliminated
positions may have to be reinstated in the future; 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.