Exhibit 99.1
For Further
Information Contact
Harry J.
Cynkus (404) 888-2922
FOR
IMMEDIATE RELEASE
ROLLINS, INC. REPORTS FIRST QUARTER 2009
FINANCIAL RESULTS
ATLANTA, GEORGIA, April 29, 2009: 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, 2009. Revenues grew 15.7%
to $243.0 million compared to $210.1 million for the first quarter ended March 31,
2008. Revenue growth excluding significant
acquisitions and the negative impact of the Canadian dollar improved modestly.
Net income increased 14.2% to $15.8 million or $0.16 per diluted share
for the first quarter ended March 31, 2009 compared to $13.8 million or
$0.14 per diluted share for the first quarter ended March 31, 2008. This was the Company’s 12th consecutive quarter of improved earnings. EBITDA increased 24.3% for the first quarter
ended March 31, 2009 compared to the prior year quarter.(1)
On January 27, 2009, Rollins increased its regular quarterly cash
dividend to shareholders 12 percent to $0.07.
The Company also announced that it repurchased 603,400 shares of common
stock at a weighted average price of $15.19 per share during the quarter. In total, approximately 4.0 million
additional shares may be purchased under its share repurchase program.
Gary W.
Rollins, President and Chief Executive Officer of Rollins, Inc. stated, “This
is a very challenging time for all businesses, and our company is fortunate to
have a large base of recurring revenue, great pest control brands, and a proven
team of highly professional and dedicated employees. One of our greatest company attributes is to
be situated in an industry that is recession resistant. Historically during economic downturns
prospective customers and existing customers maintain a high regard for our
ability to protect their health and property against the threat of pests.”
Mr. Rollins, concluded, “Although we are seeing an expected softening
in residential pest control sales, we are experiencing gains in commercial pest
control as well as our termite control business. We will continue to seek new growth
opportunities both internally and externally through acquisitions.”
Rollins, Inc. is a premier North American consumer and commercial
services company. Through its wholly owned subsidiaries, Orkin, Inc., PCO
Services, HomeTeam Pest Defense, Western Pest Services and The Industrial
Fumigant Company, 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, Mexico, Central America, the Caribbean,
the Middle East and Asia from over 500 locations.
(1) EBITDA is a
financial measure which does not conform to generally accepted accounting
principles (GAAP). Additional disclosure regarding this non-GAAP financial
measure is included in the attachment to this press release.
You can learn more about our
subsidiaries by visiting our web sites at www.orkin.com, www.pestdefense.com,
www.westernpest.com, www.indfumco.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 the
Company’s belief that the Company is situated in an industry that is recession
resistant, the Company’s expectation for softening residential pest control
sales and belief that it is experiencing gains in commercial pest control as
well as in termite control, and the Company’s plans to continue to seek new
growth opportunities both internally and externally through acquisitions. 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 our Company’s
business; changes in industry practices or technologies; the degree of success
of the Company’s pest and termite process reforms 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; 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,
2008.
Rollins, Inc.
(NYSE:
ROL)
Management
will hold a conference call to discuss First Quarter results on:
Wednesday,
April 29, 2009 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 800-257-3401 domestic;
303-228-2960
international
at least
5 minutes before start time.
REPLAY: available through May 6,
2009
Please dial 800-405-2236/303-590-3000, Passcode: 11130366
THIS CALL CAN ALSO BE ACCESSED
THROUGH THE INTERNET AT
www.viavid.net
Questions?
Contact
Janet Jazmin at Financial Relations Board at 212-827-3777
Or email
to jjazmin@financialrelationsboard.com