ROLLINS, INC. REPORTS FOURTH QUARTER AND FULL YEAR 2017
RECORD FINANCIAL RESULTS
Company posts 47th consecutive quarter of improved revenues and earnings
Revenue increased 7.5% for the quarter and 6.4% for full year
Fourth quarter net income of $33.7 million, or $0.15 per diluted share
Fourth quarter net income of $45.3 million, or $0.21 per diluted share excluding significant items
Full year net income of $179.1 million, or $0.82 per diluted share
Full year net income of $190.7 million, or $0.87 per diluted share excluding significant items
ATLANTA, GEORGIA, January 24, 2018: Rollins, Inc. (NYSE:ROL), a premier global consumer and commercial services company, reported strong unaudited financial results for its fourth quarter and year ended December 31, 2017.
On December 22, 2017, the Tax Cuts & Jobs Act (“TCJA”) was signed into law. The fourth quarter 2017 and full year 2017 results reflect the estimated negative impact of the enactment of the TCJA, which resulted in an $11.6 million decrease in net income, ($8.0 million from transition tax on foreign earnings, $2.9 million from the revaluation of deferred tax assets, and $0.7 million from reductions in tax benefits on stock compensation). This resulted in a $0.06 per diluted share decrease in net income for the quarter and $0.05 per diluted share decrease for the year. Net income and diluted earnings per share excluding significant items are non-GAAP financial measures. Management believes these measures help investors understand the effect of these on reported results.
The Company recorded fourth quarter revenues of $414.7 million, an increase of 7.5% over the prior year’s fourth quarter revenue of $385.6 million. Rollins reported net income of $33.7 million or $0.15 per diluted share. Excluding significant items Rollins’ net income increased 19.2% to $45.3 million or $0.21 per diluted share for the fourth quarter ended December 31, 2017, compared to $38.0 million or $0.17 per diluted share for the same period in 2016.
For the full-year ended December 31, 2017, Rollins’ revenues rose 6.4% to $1.674 billion compared to $1.573 billion for the prior year. The Company reported net income of $179.1 million. Excluding significant items Rollins’ net income for the year rose 13.9% to $190.7 million, or $0.87 per diluted share, compared to net income of $167.4 million, or $0.77 per diluted share last year.
The following information was filed by Rollins Inc (ROL) on Wednesday, January 24, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: ROL CIK: 84839 Form Type:10-K Annual Report Accession Number: 0000084839-18-000065 Submitted to the SEC: Mon Feb 26 2018 4:25:12 PM EST Accepted by the SEC: Mon Feb 26 2018 Period: Sunday, December 31, 2017 Industry: To Dwellings And Other Buildings