Rollins, Inc. Reports Fourth Quarter And Full Year 2015 Record Financial Results

Company posts 39th consecutive quarter of improved earnings

- Revenue increased 5.4% for the quarter and 5.2% for full year

- Income before taxes rose 11.3% for the quarter and 10.8% for the full year

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

- Earnings per diluted share rose 7.1% for the quarter to $0.15 from $0.14, and up 11.1% to $0.70 from $0.63 for the full year

Jan 27, 2016, 07:30 ET from Rollins, Inc.

ATLANTA, Jan. 27, 2016 /PRNewswire/ -- Rollins, Inc. (NYSE: ROL), a premier global consumer and commercial services company, reported strong unaudited financial results for its fourth quarter and year ended December 31, 2015.

The Company recorded fourth quarter revenues of $362.5 million, an increase of 5.4% over the prior year's fourth quarter revenue of $344.0 million.  Income before income taxes rose 11.3% to $51.8 million compared to $46.5 million for the prior year's fourth quarter.  Rollins' net income increased 6.1% to $31.7 million or $0.15 per diluted share for the fourth quarter ended December 31, 2015, compared to $29.9 million or $0.14 per diluted share for the same period in 2014. 

For the full-year ended December 31, 2015, Rollins' revenues rose 5.2% to $1.485 billion compared to $1.412 billion for the prior year, and income before income taxes increased 10.8% to $243.2 million compared to prior year's $219.5 million.  The Company's net income for the year rose 10.5% to $152.1 million, or $0.70 per diluted share, compared to net income of $137.7 million, or $0.63 per diluted share for last year.

Gary W. Rollins, Vice Chairman and Chief Executive Officer of Rollins, Inc. stated, "We are pleased to have achieved our major financial objectives for 2015 with record revenue and profit growth across all the Company's brands.  The progress we made this past year is a reflection of the dedication of our employees and their commitment to achieve our strategic initiatives."  

Mr. Rollins, concluded, "Our culture of continued improvement is the driving force behind our enhanced customer service, sales results, productivity improvement, customer growth and financial results.  We are excited about our Company's plans for 2016 and are clearly focused on having another successful year." 

Rollins, Inc. is a premier global consumer and commercial services company. Through its wholly owned subsidiaries, Orkin LLC., HomeTeam Pest Defense, Orkin Canada, Western Pest Services, Critter Control, Inc., The Industrial Fumigant Company, TruTech LLC., Rollins Australia, Waltham Services LLC., PermaTreat, and Crane Pest Control, the Company provides essential pest control services and protection against termite damage, rodents and insects to more than two million customers in the United States, Canada, Central America, South America, the Caribbean, the Middle East, Asia, the Mediterranean, Europe, Africa, Mexico, and Australia from more than 700 locations. You can learn more about our subsidiaries by visiting our web sites at www.orkin.com, www.pestdefense.com, www.orkincanada.ca, www.westernpest.com, www.crittercontrol.comwww.indfumco.com, www.trutechinc.com, www.allpest.com.au, www.walthamservices.com, www.permatreat.com, www.cranepestcontrol.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 being excited about its plans for 2016 and focused on having another successful year.  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, 2014.

 

ROLLINS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(in thousands)

At December 31, (unaudited)

2015

2014

ASSETS

Cash and cash equivalents

$               134,574

$                  108,372

Trade accounts receivables, net

79,864

77,854

Financed receivables, net

13,830

12,234

Materials and supplies

12,801

14,078

Deferred income taxes, net

44,445

42,764

Other current assets

28,365

28,656

Total Current Assets

313,879

283,958

Equipment and property, net

121,356

101,669

Goodwill

249,939

255,563

Customer contracts and other intangible assets, net

138,931

133,472

Deferred income taxes, net

-

7,881

Financed receivables, long-term, net

13,636

11,787

Other assets

14,690

13,832

    Total Assets

$               852,431

$                  808,162

LIABILITIES

Accounts payable

$                  24,919

$                    22,878

Accrued insurance, current

24,874

24,204

Accrued compensation and related liabilities

73,607

74,090

Unearned revenue

96,192

94,056

Other current liabilities

33,394

37,451

Total Current Liabilities

252,986

252,679

Accrued insurance, less current portion

30,402

30,946

Accrued pension

9,735

29,558

Deferred income taxes, net

3,780

-

Long-term accrued liabilities

31,499

32,303

Total Liabilities

328,402

345,486

STOCKHOLDERS' EQUITY

Common stock

218,553

218,283

Retained earnings and other equity

305,476

244,393

Total stockholders' equity

524,029

462,676

Total Liabilities and Stockholders' Equity

$               852,431

$                  808,162

 

 

ROLLINS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in thousands except per share data)

(unaudited)

Three Months Ended

Twelve Months Ended

December 31,

December 31,

2015

2014

2015

2014

REVENUES

Customer services

$  362,500

$   343,951

$ 1,485,305

$ 1,411,566

COSTS AND EXPENSES

Cost of services provided

182,235

174,979

735,976

707,739

Depreciation and amortization

11,340

11,250

44,522

43,509

Sales, general and administrative

117,601

111,357

463,742

441,706

Gain on sale of assets, net

(449)

(54)

(1,953)

(618)

Interest income, net

(26)

(116)

(160)

(254)

310,701

297,416

1,242,127

1,192,082

INCOME BEFORE INCOME TAXES

51,799

46,535

243,178

219,484

PROVISION FOR INCOME TAXES

20,050

16,618

91,029

81,820

NET INCOME

$    31,749

$     29,917

$    152,149

$    137,664

NET INCOME PER SHARE - BASIC AND DILUTED

$        0.15

$        0.14

$          0.70

$         0.63

Weighted average shares outstanding - basic and diluted

218,585

218,287

218,583

218,695

 

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

Management will hold a conference call to discuss
Fourth Quarter and Twelve Months 2015 results on
Wednesday, January 27, 2016 at: 
10:00 a.m. Eastern
9:00 a.m. Central
8:00 a.m. Mountain
7:00 a.m. Pacific

TO PARTICIPATE:
Please dial 888-632-3384 domestic; 
785-424-1675 international 
at least 5 minutes before start time.

REPLAY: available through February 3, 2016
Please dial 888-203-1112/719-457-0820, Passcode: 8962426
THIS CALL CAN ALSO BE ACCESSED THROUGH THE INTERNET AT
www.viavid.com 

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

For Further Information Contact
Eddie Northen (404) 888-2242

SOURCE Rollins, Inc.



RELATED LINKS

http://www.rollins.com