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 PR Newswire ATLANTA, Jan. 23, 2013 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 141,789 137,526 assets, net 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 60,042 61,137 liabilities 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 $ $ 1,270,909 $ 289,056 1,205,064 COSTS AND EXPENSES Cost of services provided 163,025 151,202 647,578 616,842 Depreciation and 9,810 9,678 38,655 37,503 amortization Sales, general and 97,608 93,464 407,020 389,115 administrative 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 35,026 34,653 176,642 161,096 TAXES PROVISION FOR INCOME 12,112 13,058 65,310 60,385 TAXES NET INCOME $ $ $ 111,332 $ 22,914 21,595 100,711 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 146,028 146,277 146,299 146,882 outstanding - basic Weighted average shares 146,029 146,309 146,306 146,946 outstanding - diluted 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 firstname.lastname@example.org For Further Information Contact Harry J. Cynkus (404) 888-2922 SOURCE Rollins, Inc. Website: http://www.rollins.com
Rollins, Inc. Reports Fourth Quarter And Full Year 2012 Record Financial Results
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