ATLANTA, April 27, 2011 /PRNewswire/ -- Rollins, Inc. (NYSE: ROL), a premier North American consumer and commercial services company, today reported strong unaudited financial results for its first quarter ended March 31, 2011.  

The Company recorded first quarter revenues of $271.6 million, an increase of 7.4% over the prior year's first quarter revenue of $253.0 million.  Net income increased 6.0% to $18.6 million or $0.13 per diluted share for the first quarter ended March 31, 2011, compared to $17.6 million or $0.12 per diluted share for the same period in 2010.  

On January 25, 2011, Rollins increased its regular quarterly cash dividend to shareholders 16.7 percent to $0.07 per share.  The Company also repurchased 256,284 shares at a weighted average price of $18.90 per share during the first quarter.  In total, 2,281,962 additional shares may be purchased under the share repurchase program.

Gary W. Rollins, President and Chief Executive Officer of Rollins, Inc. stated, "We are pleased to report our strongest increase in revenue for a first quarter in more than five years, we are understandably pleased with our solid start of 2011."  

Mr. Rollins concluded, "Our opportunities for this year are exciting and we believe that each of our businesses is well positioned to contribute. We remain committed to growing our revenue, improving earnings, generating strong cash flows and maintaining a strong balance sheet. We are clearly focused on achieving our goals."

Rollins, Inc. is a premier North American consumer and commercial services company. Through its wholly owned subsidiaries, Orkin, HomeTeam Pest Defense, Western Pest Services, PCO Services, The Industrial Fumigant Company, Waltham Services, Crane Pest Control, and TruTech, the Company provides essential pest control services and protection against termite damage, rodents and insects to over 2 million customers in the United States, Canada, Europe, Central America, the Caribbean, the Middle East, Asia and the Mediterranean from over 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 belief that the Company's opportunities in 2011 are exciting; that each of the Company's businesses is well positioned to contribute; and that the Company remains committed to growing its revenue, improving earnings, generating solid cash flow and maintaining a strong balance sheet.  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, 2010.

ROLLINS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(in thousands)

At March 31, (unaudited)                       2011       2010

ASSETS

Cash and cash equivalents                      $ 23,340   $ 14,149

Trade receivables, short-term                  69,524     62,937

Materials and supplies                         12,680     10,957

Deferred income taxes                          27,178     25,760

Other current assets                           14,522     11,842

Total Current Assets                           147,244    125,645

Equipment and property, net                    73,444     72,203

Goodwill                                       212,130    189,925

Customer Contracts and Other Intangible assets 146,742    141,705

Deferred income taxes                          14,336     17,644

Trade receivables, long-term                   9,786      9,021

Other assets                                   10,523     9,190

Total Assets                                   $ 614,205  $ 565,333



LIABILITIES

Accounts payable                               $ 23,081   $ 20,671

Accrued insurance                              19,918     16,754

Accrued compensation and related liabilities   51,697     47,865

Unearned revenue                               92,193     89,604

Line of Credit                                 25,000     15,000

Other current liabilities                      30,027     34,969

Total Current Liabilities                      241,916    224,863

Accrued insurance                              25,969     26,054

Accrued pension                                8,390      14,731

Long-term accrued liabilities                  36,710     28,022

Total Liabilities                              312,985    293,670



STOCKHOLDERS’ EQUITY

Common stock                                   147,428    149,004

Retained earnings and other equity             153,792    122,659

Total Stockholders’ Equity                   301,220    271,663

Total Liabilities and Stockholders’ Equity   $ 614,205  $ 565,333

ROLLINS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in thousands except per share data)

(unaudited)



                                              First Quarter Ended

                                              March 31,

                                              2011       2010

REVENUES

Customer services                             $ 271,643  $ 253,041

COSTS AND EXPENSES

Cost of services provided                     140,898    130,975

Depreciation and amortization                 9,200      9,000

Sales, general and administrative             91,498     84,915

Interest Expense                              192        99

                                              241,788    224,989

INCOME BEFORE TAXES                           29,855     28,052

PROVISION FOR INCOME TAXES                    11,215     10,469

NET INCOME                                    $ 18,640   $ 17,583



NET INCOME PER SHARE - BASIC                  $ 0.13     $ 0.12

NET INCOME PER SHARE - DILUTED                $ 0.13     $ 0.12



Weighted average shares outstanding - basic   147,473    148,810

Weighted average shares outstanding - diluted 147,570    149,089

CONFERENCE CALL ANNOUNCEMENT

Rollins, Inc.

(NYSE: ROL)





Management will hold a conference call to discuss

First Quarter results on:



Wednesday, April 27, 2011 at:

10:00 a.m. Eastern

9:00 a.m. Central

8:00 a.m. Mountain

7:00 a.m. Pacific



TO PARTICIPATE:

Please dial877-941-8631domestic;

480-629-9818international
atleast5 minutes before start time.



REPLAY: available through May 4, 2011

Please dial 800-406-7325/303-590-3000, Passcode: 4432545

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.