Thursday July 25, 2013
The company recorded second quarter revenues of $350.8 million, an increase of 4.8% compared to $334.9 million in the prior year's second quarter.
ATLANTA, — Rollins Inc. reported strong unaudited financial results for its second quarter and six months ended June 30, 2013, the company announced.
The company recorded second quarter revenues of $350.8 million, an increase of 4.8% compared to $334.9 million in the prior year's second quarter. Net income increased 8.7% to $36.0 million or $0.25 per diluted share for the second quarter ended June 30, 2013, compared to $33.1million or $0.23 per diluted share for the same period in 2012.
Rollins' revenues rose 4.2% for the first six months of 2013 to $650.5 million compared to $624.3 million for the prior year. Net income for the first six months of 2013 was $59.2 million, or $0.40 per diluted share, compared to net income of $56.2 million, or $0.38 per diluted share for the same period last year.
In the second quarter, the company repurchased 172,589 shares at a weighted average price of $24.41 per share. In total, 5,125,594 additional shares may be purchased under the share repurchase program.
Commenting on the company's results, Gary W. Rollins, Vice Chairman and Chief Executive Officer of Rollins, Inc. said, "We are very pleased with the solid financial results our Company reported for the second quarter. We are particularly pleased about the growth we experienced in revenues, which accelerated over our first quarter. This improvement reflects the positive impact of our new marketing and sales programs."
Rollins added, "Our progress in the first six months of this year has been encouraging. We are confident that as we continue to execute our plans that we will achieve our goals for the year relative to growth and improving profitability."