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Thursday July 26, 2012

Home News Rollins Announces Second Quarter Financial Results

http://www.pctonline.com/Article.aspx?article_id=130663

The company recorded second quarter revenues of $334.9 million, an increase of 4.5% over the prior year's second quarter revenue of $320.4 million.

ATLANTA — Rollins reported strong unaudited financial results for its second quarter ended June 30, 2012.

The company recorded second quarter revenues of $334.9 million, an increase of 4.5% over the prior year's second quarter revenue of $320.4 million. Net income increased 6.7% to $33.1 million or $0.23 per diluted share for the second quarter ended June 30, 2012, compared to $31.1 million or $0.21 per diluted share for the same period in 2011.

Rollins' revenues rose 5.4% for the first six months of 2012 to $624.3 million compared to $592.1 million for the prior year. Net income for the first six months of 2012 was $56.2 million, or $0.38 per diluted share, compared to net income of $49.7 million, or $0.34 per diluted share for the same period last year.

In the second quarter, the company repurchased 713,781 shares at a weighted average price of $21.06 per share bringing the total number of shares repurchased year-to-date to 781,781 at a weighted average price of $20.93. In total, 5,298,183 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 another solid quarter. Our revenue growth reported this quarter and for the first six months of this year reflects the contributions from all our brands. We remain focused on our customer service and sales programs. Our team's consistent execution and strong operational initiatives should continue to contribute to a successful 2012."

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