Exhibit 99.1

 

For Further Information Contact

Harry J. Cynkus (404) 888-2922

 

FOR IMMEDIATE RELEASE

 

ROLLINS, INC. REPORTS FIRST QUARTER 2013

FINANCIAL RESULTS

 

Company posts 28th consecutive quarter of improved earnings results

 

ATLANTA, GEORGIA, April 24, 2013: Rollins, Inc. (NYSE:ROL), a premier North American consumer and commercial services company, today reported unaudited financial results for its first quarter ended March 31, 2013.  Revenues grew 3.5% to $299.7 million compared to $289.5 million for the first quarter ended March 31, 2012.

 

The Company recorded net income of $23.2 million or $0.16 per diluted share for the first quarter ended March 31, 2013 compared to $23.1 million or $0.16 per diluted share for the same period in 2012.  On January 22, 2013, Rollins also increased its regular quarterly cash dividend to shareholders 12.5% to $0.09 per share.

 

Gary W. Rollins, Vice Chairman and Chief Executive Officer of Rollins, Inc. stated, “Our residential and commercial pest control sales start accelerating as the weather warms and pest activity increases.  In this regard, the first quarter of 2013 was disappointing, as it was the coldest with the greatest snow fall, in decades.  We were pleased to be able to report an increase in revenue however.  This was particularly gratifying having come off of a record first quarter in 2012 when the weather was the warmest in over a century.  Frankly, this was the most dramatic year-to-year weather reversal that we’ve ever experienced.  Profits were negatively impacted from being staffed for the anticipated revenue the first quarter.  We did maintain our record of profit increases with a modest improvement over 2012.”

 

Mr. Rollins, concluded, “Spring has finally sprung and we are very excited about the opportunities we have for each of our businesses through the balance of the year.   We are well positioned to achieve solid revenue growth with improved earnings and strong cash flows.  Thankfully, the bugs always come back.”

 

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 that we are excited about the opportunities we have for each of our business through the balance of the year, and our belief that we are well positioned to achieve solid revenue growth with improved earnings and strong cash flow. 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, 2012.

 

 

ROLLINS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(in thousands)

 

At March 31, (unaudited)		2013			2012
ASSETS
Cash and cash equivalents		$	82,479		$	59,684
Trade accounts receivables, net		68,194			63,790
Financed receivables, net		10,898			11,386
Materials and supplies		11,801			10,874
Deferred income taxes, net		32,839			29,718
Other current assets		18,995			15,123
Total Current Assets		225,206			190,575
Equipment and property, net		83,295			77,146
Goodwill		212,280			211,237
Customer contracts and other intangible assets, net		136,458			139,580
Deferred income taxes		26,582			21,775
Financed receivables, long-term, net		11,214			11,441
Other assets		12,403			11,052
Total Assets		$	707,438		$	662,806
LIABILITIES
Accounts payable		$	23,078		$	19,214
Accrued insurance, current		24,929			20,430
Accrued compensation and related liabilities		50,218			52,592
Unearned revenue		96,251			92,778
Other current liabilities		39,382			43,569
Total Current Liabilities		233,858			228,583
Accrued insurance, less current portion		31,740			30,203
Accrued pension		43,017			29,850
Long-term accrued liabilities		33,857			37,915
Total Liabilities		342,472			326,551
STOCKHOLDERS’ EQUITY
Common stock		146,279			146,803
Retained earnings and other equity		218,687			189,452
Total stockholders’ equity		364,966			336,255
Total Liabilities and Stockholders’ Equity		$	707,438		$	662,806

 

 

ROLLINS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in thousands except per share data)

(unaudited)

 

		First Quarter Ended
		March 31,
		2013			2012
REVENUES
Customer services		$	299,714		$	289,465
COSTS AND EXPENSES
Cost of services provided		155,606			148,082
Depreciation and amortization		9,894			9,767
Sales, general and administrative		99,134			94,824
Interest (income)/expense		(45		)	51
		264,589			252,724
INCOME BEFORE INCOME TAXES		35,125			36,741
PROVISION FOR INCOME TAXES		11,946			13,661
NET INCOME		$	23,179		$	23,080
NET INCOME PER SHARE - BASIC		$	0.16		$	0.16
NET INCOME PER SHARE - DILUTED		0.16			0.16
Weighted average shares outstanding - basic		146,238			146,697
Weighted average shares outstanding - diluted		146,238			146,714

 

 

CONFERENCE CALL ANNOUNCEMENT

Rollins, Inc.

(NYSE: ROL)

 

 

Management will hold a conference call to discuss

First Quarter 2013 results on:

 

Wednesday, April 24, 2013 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 800-762-8779 domestic;

480-629-9645 international
at least 5 minutes before start time.

 

REPLAY: available through May 1, 2013

Please dial 800-406-7325/303-590-3030, Passcode: 4612026

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