Exhibit 99.1

      For Further Information Contact
      Eddie Northen (404) 888-2242

 

 

 

FOR IMMEDIATE RELEASE

 

 

ROLLINS, INC. REPORTS FOURTH QUARTER AND FULL YEAR 2016

RECORD FINANCIAL RESULTS

Company posts 43rd consecutive quarter of improved revenues and earnings

  • Revenue increased 6.4% for the quarter and 5.9% for full year
  • Net income up 19.7% for the quarter and 10.0% for the full year
  • Earnings per diluted share rose 13.3% for the quarter to $0.17 from $0.15, and up 10.0% to $0.77 from $0.70 for the full year

ATLANTA, GEORGIA, January 25, 2017:

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, 2016.

 

The Company recorded fourth quarter revenues of $385.6 million, an increase of 6.4% over the prior year’s fourth quarter revenue of $362.5 million. Rollins’ net income increased 19.7% to $38.0 million or $0.17 per diluted share for the fourth quarter ended December 31, 2016, compared to $31.7 million or $0.15 per diluted share for the same period in 2015.

 

For the full-year ended December 31, 2016, Rollins’ revenues rose 5.9% to $1.573 billion compared to $1.485 billion for the prior year. The Company’s net income for the year rose 10.0% to $167.4 million, or $0.77 per diluted share, compared to net income of $152.1 million, or $0.70 per diluted share last year.

 

Gary W. Rollins, Vice Chairman and Chief Executive Officer of Rollins, Inc. stated, “The positive performance we achieved in our fourth quarter and for the full year reflects the success of our 2016 initiatives. We were especially pleased that this year we again exceeded our revenue and profit plans, and we surpassed the $1.5 billion revenue milestone. The Fourth Quarter results represent our 43rd consecutive quarter of improved revenues and earnings.”

 

Mr. Rollins concluded, “We are excited about our Company’s opportunities for 2017. The Rollins culture of continuous improvement enables us to generate aggressive plans and new programs that should provide another successful year. We are very proud of our people who made 2016 possible and who will likewise be working diligently to achieve our 2017 objectives.”

 

 

Rollins, Inc. is a premier global consumer and commercial services company. Through its wholly owned subsidiaries, Orkin LLC., HomeTeam Pest Defense, Orkin Canada, Western Pest Services, Critter Control, Inc., The Industrial Fumigant Company, Trutech LLC., Rollins Australia, Waltham Services LLC., PermaTreat, Rollins UK, and Crane Pest Control, the Company provides essential pest control services and protection against termite damage, rodents and insects to more than two million customers in the United States, Canada, Central America, South America, the Caribbean, the Middle East, Asia, the Mediterranean, Europe, Africa, Mexico, and Australia from more than 700 locations. You can learn more about Rollins and its subsidiaries by visiting our web sites at www.orkin.com, www.pestdefense.com, www.westernpest.com, www.orkincanada.ca, www.crittercontrol.com, www.indfumco.com, www.trutechinc.com, www.allpest.com.au, www.walthamservices.com, www.permatreat.com, www.cranepestcontrol.com, www.murraypestcontrol.com.au, www.statewidepestcontrol.com.au,, www.safeguardpestcontrol.co.uk, 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 about the Company’s being excited about its opportunities for 2017; and the expectation of another successful year and the achievement of the 2017 objectives. 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, 2015.

 

ROL-Fin

 

 

ROLLINS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(in thousands)

 

At December 31, (unaudited)  2016  2015
ASSETS          
Cash and cash equivalents  $142,785   $134,574 
Trade accounts receivables, net   88,490    79,864 
Financed receivables, net   15,968    13,830 
Materials and supplies   13,724    12,801 
Other current assets   29,204    28,365 
Total Current Assets   290,171    269,434 
Equipment and property, net   133,477    121,356 
Goodwill   255,665    249,939 
Customer contracts and other intangible assets, net   161,776    138,931 
Deferred income taxes, net   41,877    40,665 
Financed receivables, long-term, net   16,748    13,636 
Other assets   16,824    14,690 
Total Assets  $916,538   $848,651 
LIABILITIES          
Accounts payable  $30,284   $24,919 
Accrued insurance, current   26,201    24,874 
Accrued compensation and related liabilities   75,839    73,607 
Unearned revenue   99,820    96,192 
Other current liabilities   44,847    33,394 
Total Current Liabilities   276,991    252,986 
Accrued insurance, less current portion   32,023    30,402 
Accrued pension   2,880    9,735 
Long-term accrued liabilities   36,099    31,499 
Total Liabilities   347,993    324,622 
STOCKHOLDERS’ EQUITY          
Common stock   217,792    218,553 
Retained earnings and other equity   350,753    305,476 
Total stockholders’ equity   568,545    524,029 
Total Liabilities and Stockholders’ Equity  $916,538   $848,651 

 

 

ROLLINS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in thousands except per share data)

(unaudited)

             
   Three Months Ended  Twelve Months Ended
   December 31,  December 31,
   2016  2015  2016  2015
REVENUES                    
Customer services  $385,614   $362,500   $1,573,477   $1,485,305 
COSTS AND EXPENSES                    
Cost of services provided   192,995    182,235    772,348    735,976 
Depreciation and amortization   13,829    11,340    50,902    44,522 
Sales, general and administrative   126,321    117,601    490,528    463,742 
Gain on sale of assets, net   (57)   (449)   (777)   (1,953)
Interest income, net   (4)   (26)   (160)   (160)
    333,084    310,701    1,312,841    1,242,127 
INCOME BEFORE INCOME TAXES   52,530    51,799    260,636    243,178 
PROVISION FOR INCOME TAXES   14,523    20,050    93,267    91,029 
NET INCOME  $38,007   $31,749   $167,369   $152,149 
                     
NET INCOME PER SHARE - BASIC AND DILUTED  $0.17   $0.15   $0.77   $0.70 
                     
Weighted average shares outstanding - basic and diluted   217,819    218,585    218,244    218,583 

  

 

 

(( CONFERENCE CALL ANNOUNCEMENT ((

Rollins, Inc.

(NYSE: ROL)

 

 

 

Management will hold a conference call to discuss

Fourth Quarter and Twelve Months 2016 results on

 

Wednesday, January 25, 2017 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 800-533-7619 domestic;

785-830-1923 international
at least 5 minutes before start time.

 

REPLAY: available through February 1, 2017

Please dial 888-203-1112/719-457-0820, Passcode: 2262830

THIS CALL CAN ALSO BE ACCESSED THROUGH THE INTERNET AT

www.viavid.com

 

Questions?

Contact Samantha Alphonso at Financial Relations Board at 212-827-3746

Or email to salphonso@mww.com

 

 

 

 

 


The following information was filed by Rollins Inc (ROL) on Wednesday, January 25, 2017 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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