ATLANTA, Jan. 28, 2015 /PRNewswire/ --
Rollins, Inc. (NYSE: ROL), a premier global consumer and commercial services company, today reported strong unaudited financial results for its fourth quarter and year ended December 31, 2014.
All share and per share informationis shown prior to the 3-for-2 stock dividend effective March 10, 2015 for shareholders of record February 10, 2015 as announced on January 27, 2015.
The Company recorded fourth quarter revenues of $344.0 million, an increase of 5.9% over the prior year's fourth quarter revenue of $324.7 million. Income before income taxes rose 13.0%, but due to a less favorable income tax rate in 2014, net income increased 7.0% to $29.9 million or $0.21 per diluted share for the fourth quarter ended December 31, 2014, compared to $28.0 million or $0.19 per diluted share for the same period in 2013.
Rollins' revenues for the full year rose 5.5% to $1.412 billion compared to $1.337 billion for the prior year. Rollins' net income for the full year rose 11.6% to $137.7 million, or $0.94 per diluted share, compared to net income of $123.3 million, or $0.84 per diluted share for the same period last year.
Gary W. Rollins, Vice Chairman and Chief Executive Officer of Rollins, Inc. stated, "We are pleased to have achieved our financial objectives for 2014. These results reflect growth across all brands and lines of our business. We now have over 70 branches converted to our new branch CRM and operating system, and will accelerate our implementation in the new year."
Mr. Rollins, concluded, "We are excited about 2015. We have important strategic initiatives in place to help us achieve our financial objectives, while providing our customers with award winning pest control service."
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, 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 500 locations. You can learn more about our subsidiaries by visiting our web sites at http://www.orkin.com, http://www.pestdefense.com, http://www.orkincanada.ca, http://www.westernpest.com, http://www.indfumco.com, http://www.trutechinc.com, http://www.allpest.com.au, http://www.walthamservices.com, http://www.permatreat.com, http://www.cranepestcontrol.com, and http://www.rollins.com. You can also find this and other news releases at http://www.rollins.com by accessing the news releases button.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTSThis 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 (i) expectation to accelerate the implementation of the branch CRM and operating system, and (ii) strategic initiatives in place to help achieve financial objectives for 2015 while providing customers with award winning pest control service. 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, 2013.
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Rollins, Inc. Reports Fourth Quarter And Full Year 2014 Record Financial Results
