Rollins, Inc. Reports Fourth Quarter And Full Year 2012 Record Financial Results
by PR Newswire
ATLANTA, Jan. 23, 2013 /PRNewswire/ -- Rollins, Inc. (NYSE:ROL), a premier North American consumer and commercial services company, today reported strong unaudited financial results for its fourth quarter and year ended December 31, 2012.
The Company recorded fourth quarter revenues of $306.4 million, an increase of 6.0% over the prior year's fourth quarter revenue of $289.1 million. Net income increased 6.1% to $22.9 million or $0.16 per diluted share for the fourth quarter ended December 31, 2012, compared to $21.6 million or $0.15 per diluted share for the same period in 2011.
Rollins' revenues for the full year rose 5.5% to $1.271 billion compared to $1.205 billion for the prior year. Rollins' net income for the full year rose 10.5% to $111.3 million, or $0.76 per diluted share, compared to net income of $100.7 million, or $0.69 per diluted share for the same period last year.
Gary W. Rollins, President and Chief Executive Officer of Rollins, Inc. stated, "We are pleased to have achieved record revenue growth across the Company for the quarter and full year. The progress we made in 2012 reflects the momentum we gained in adding new customers while improving customer service and retention. At the same time we executed across all brands programs to improve our training, and customer communications."
Mr. Rollins concluded, "We are excited about our Company's opportunities for 2013. Our culture of continuous improvement has generated aggressive plans and new programs that should provide another successful year. We are very proud of our people who made 2012 successes possible and who will likewise be working diligently to achieve this year's objectives."
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 excitement about the Company' opportunities for 2013; our belief that our plans and programs should provide another successful year; and our belief that our people will be working diligently to achieve this year's 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, 2011.
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
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
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 2012 results on:
Wednesday, January 23, 2013 at:
9:00 a.m. Eastern
8:00 a.m. Central
7:00 a.m. Mountain
6:00 a.m. Pacific
Please dial 800-762-8779 domestic;
at least 5 minutes before start time.
REPLAY: available through January 30, 2013
Please dial 800-406-7325/303-590-3030, Passcode: 4588006
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.