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Rollins Inc.$33.25$.20.61%

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 Rollins, Inc. Reports Fourth Quarter And Full Year 2016 Record Financial Results
   Wednesday, January 25, 2017 7:30:00 AM ET

Rollins, Inc. (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 ANNOUNCEMENTRollins, Inc.(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. Eastern9:00 a.m. Central8:00 a.m. Mountain7:00 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, 2017Please dial 888-203-1112/719-457-0820, Passcode: 2262830THIS CALL CAN ALSO BE ACCESSED THROUGH THE INTERNET ATwww.viavid.com

Questions?Contact Samantha Alphonso at Financial Relations Board at 212-827-3746Or email to salphonso@mww.com

For Further Information ContactEddie Northen (404) 888-2242

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/rollins-inc-reports-fourth-quarter-and-full-year-2016-record-financial-results-300395889.html

SOURCE Rollins, Inc.

https://rt.prnewswire.com/rt.gif?NewsItemId=CL94984&Transmission_Id=201701250730PR_NEWS_USPR_____CL94984&DateId=20170125



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