ATLANTA, July 29, 2015 /PRNewswire/ -- Rollins, Inc.
(NYSE: ROL), a premier global consumer and commercial services
company, today reported unaudited financial results for its second
quarter and six months ended June 30,
2015.
The Company recorded second quarter revenues of $392.2 million, an increase of 6.2% over the
prior year's second quarter of $369.4
million. Net income increased 10.3% to $45.1 million or $0.21 per diluted share for the second quarter
ended June 30, 2015 compared to
$40.9 million or $0.19 per diluted share for the same period in
2014.
Rollins' revenues rose 5.9% for the first six months of 2015 to
$723.1 million compared to
$682.7 million for the prior
year. Net income for the first six months of 2015 was
$75.4 million, an increase of 13.1%,
or $0.34 per diluted share compared
to $66.6 million or $0.30 per diluted share for the same period last
year.
Commenting on the Company's results, Gary W. Rollins, Vice Chairman and Chief
Executive Officer of Rollins, Inc. stated, "The continued revenue
and profit growth that we experienced in the quarter and first half
of 2015 is a testament to the success we are having with our sales
and service programs. We are committed to continuous
improvement in all areas of our business. A good example is
our investment in new IT technologies which will have a tremendous
ongoing impact on the improvement of our customers' service
delivery and the company's growth rate. We are on track and
dedicated to achieve our financial goals for the 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 600 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.com,
www.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 success of our sales and service
programs; commitment to continuous improvement; impact of our
investment in new IT technologies on customers' service delivery
and company's growth rate; being on track and dedicated to achieve
the financial goals for the 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 June 30,
(unaudited)
|
2015
|
|
2014
|
ASSETS
|
|
|
|
Cash and cash
equivalents
|
$
109,684
|
|
$
101,519
|
Trade accounts
receivables, net
|
88,267
|
|
86,156
|
Financed receivables,
net
|
14,059
|
|
12,821
|
Materials and
supplies
|
14,034
|
|
13,136
|
Deferred income
taxes, net
|
40,636
|
|
40,781
|
Other current
assets
|
32,377
|
|
19,052
|
Total Current
Assets
|
299,057
|
|
273,465
|
Equipment and
property, net
|
110,375
|
|
94,678
|
Goodwill
|
269,867
|
|
255,515
|
Customer contracts
and other intangible assets, net
|
132,395
|
|
139,231
|
Deferred income
taxes, net
|
8,614
|
|
4,564
|
Financed receivables,
long-term, net
|
14,370
|
|
12,955
|
Prepaid
pension
|
-
|
|
10,393
|
Other
assets
|
14,083
|
|
13,788
|
Total Assets
|
$
848,761
|
|
$
804,589
|
|
|
|
|
LIABILITIES
|
|
|
|
Accounts
payable
|
$
28,550
|
|
$
27,972
|
Accrued insurance,
current
|
27,347
|
|
24,212
|
Accrued compensation
and related liabilities
|
69,295
|
|
63,408
|
Unearned
revenue
|
107,327
|
|
105,455
|
Other current
liabilities
|
31,416
|
|
38,384
|
Total Current
Liabilities
|
263,935
|
|
259,431
|
Accrued insurance,
less current portion
|
28,210
|
|
31,340
|
Accrued
pension
|
26,045
|
|
475
|
Long-term accrued
liabilities
|
33,328
|
|
37,801
|
Total
Liabilities
|
351,518
|
|
329,047
|
|
|
|
|
STOCKHOLDERS'
EQUITY
|
|
|
|
Common
stock
|
218,595
|
|
218,640
|
Retained earnings and
other equity
|
278,648
|
|
256,902
|
Total stockholders'
equity
|
497,243
|
|
475,542
|
Total Liabilities
and Stockholders' Equity
|
$
848,761
|
|
$
804,589
|
|
|
|
|
|
|
|
|
|
|
|
|
ROLLINS, INC. AND
SUBSIDIARIES
|
CONDENSED
CONSOLIDATED STATEMENTS OF INCOME
|
(in thousands except
per share data)
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Six Months
Ended
|
|
|
June 30,
|
|
June 30,
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
REVENUES
|
|
|
|
|
|
|
|
|
Customer
services
|
$ 392,150
|
|
$ 369,357
|
|
$ 723,059
|
|
$ 682,745
|
|
COSTS AND
EXPENSES
|
|
|
|
|
|
|
|
|
Cost of services
provided
|
190,209
|
|
182,642
|
|
358,252
|
|
343,950
|
|
Depreciation and
amortization
|
11,245
|
|
10,608
|
|
22,026
|
|
20,822
|
|
Sales, general and
administrative
|
118,622
|
|
110,752
|
|
224,197
|
|
211,584
|
|
Gain on sale of
assets, net
|
(194)
|
|
(230)
|
|
(249)
|
|
(478)
|
|
Interest income,
net
|
(66)
|
|
(86)
|
|
(113)
|
|
(162)
|
|
|
319,816
|
|
303,686
|
|
604,113
|
|
575,716
|
|
INCOME BEFORE
INCOME TAXES
|
72,334
|
|
65,671
|
|
118,946
|
|
107,029
|
|
PROVISION FOR
INCOME TAXES
|
27,261
|
|
24,811
|
|
43,592
|
|
40,403
|
|
NET
INCOME
|
$ 45,073
|
|
$ 40,860
|
|
$ 75,354
|
|
$ 66,626
|
|
|
|
|
|
|
|
|
|
|
NET INCOME PER
SHARE - BASIC AND DILUTED
|
$
0.21
|
|
$ 0.19
|
|
$
0.34
|
|
$
0.30
|
|
|
|
|
|
|
|
|
|
|
Weighted average
shares outstanding - basic and diluted
|
218,613
|
|
218,813
|
|
218,577
|
|
218,899
|
|
|
|
|
|
|
|
|
|
|
CONFERENCE CALL
ANNOUNCEMENT
Rollins, Inc.
(NYSE:
ROL)
Management will hold a conference call to
discuss
Second Quarter and Six Months 2015 results
on
Wednesday, July 29,
2015 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 888-505-4368 domestic;
719-457-1035 international
at least 5 minutes before start time.
REPLAY: available through August 5, 2015
Please dial 888-203-1112/719-457-0820, Passcode: 3030827
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
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/rollins-inc-reports-record-second-quarter-and-six-months-2015-financial-results-300120042.html
SOURCE Rollins, Inc.