Rollins, Inc. Reports Fourth Quarter And Full Year 2012 Record Financial Results Company posts 27th consecutive quarter of improved earnings results

- Revenue increased 6.0% for the quarter and 5.5% for full year

- Net income up 6.1% for the quarter and 10.5% for the full year

- Earnings per diluted share rose 6.7% for the quarter to $0.16 from $0.15 and 10.1% to $0.76 from $0.69 for the full year

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

(in thousands)

At December 31, (unaudited)

2012


2011

ASSETS




Cash and cash equivalents

$                  65,082


$                    46,275

Trade accounts receivables, net

68,920


61,687

Financed receivables, net 

11,823


11,659

Materials and supplies

11,847


11,125

Deferred income taxes, net

33,338


31,272

Other current assets

14,982


13,804

Total Current Assets

205,992


175,822

Equipment and property, net

82,263


76,858

Goodwill 

212,477


211,019

Customer contracts and other intangible assets, net

141,789


137,526

Deferred income taxes

26,841


22,604

Financed receivables, long-term, net

11,681


11,298

Other assets

11,463


10,523

    Total Assets

$               692,506


$                  645,650





LIABILITIES




Accounts payable

$                  24,854


$                    22,584

Accrued insurance, current

24,164


21,844

Accrued compensation and related liabilities

60,042


61,137

Unearned revenue

87,753


85,636

Other current liabilities

31,603


34,650

Total Current Liabilities

228,416


225,851

Accrued insurance, less current portion

31,283


27,516

Accrued pension

43,271


31,867

Long-term accrued liabilities

34,580


36,419

Total Liabilities

337,550


321,653





STOCKHOLDERS' EQUITY




Common stock

146,015


146,251

Retained earnings and other equity

208,941


177,746

Total stockholders' equity

354,956


323,997

Total Liabilities and Stockholders' Equity

$               692,506


$                  645,650

 

ROLLINS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in thousands except per share data)

(unaudited)










Fourth Quarter Ended


Twelve Months Ended


December 31,


December 31,


2012


2011


2012


2011

REVENUES








Customer services

$    306,393


$      289,056


$ 1,270,909


$   1,205,064

COSTS AND EXPENSES








Cost of services provided

163,025


151,202


647,578


616,842

Depreciation and amortization

9,810


9,678


38,655


37,503

Sales, general and administrative

97,608


93,464


407,020


389,115

Pension Settlement

1,000


-


1,000


-

Interest Expense

(76)


59


14


508


271,367


254,403


1,094,267


1,043,968

INCOME BEFORE INCOME TAXES

35,026


34,653


176,642


161,096

PROVISION FOR INCOME TAXES

12,112


13,058


65,310


60,385

NET INCOME

$      22,914


$       21,595


$    111,332


$      100,711









NET INCOME PER SHARE - BASIC

$          0.16


$           0.15


$          0.76


$           0.69

NET INCOME PER SHARE - DILUTED

$          0.16


$           0.15


$          0.76


$           0.69









Weighted average shares outstanding - basic

146,028


146,277


146,299


146,882

Weighted average shares outstanding - diluted

146,029


146,309


146,306


146,946









 

 

 

CONFERENCE CALL ANNOUNCEMENT
Rollins, Inc.
(NYSE: ROL)

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

TO PARTICIPATE:
Please dial 800-762-8779 domestic;
480-629-9645 international
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 
www.viavid.net

Questions?
Contact Samantha Alphonso at Financial Relations Board at 212-827-3746
Or email to salphonso@mww.com

 

For Further Information Contact
Harry J. Cynkus (404) 888-2922

SOURCE Rollins, Inc.



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