Rollins Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2011; Announces Impairment Charges for the Fourth Quarter Ended December 31, 2011
January 25, 2012 at 07:30 am EST
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Rollins Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2011. For the quarter, the company reported revenues of $289.1 million, an increase of 3.3% over the prior year's fourth quarter revenue of $279.9 million. Net income increased 12.4% to $21.6 million or $0.15 per diluted share compared to $19.2 million or $0.13 per diluted share for the same period in 2010. Income before taxes were $34,653,000 compared to $30,145,000 for the same period in 2010. Net cash provided from operations was $40 million, up over 25%.
For the year, the company revenues rose 6.0% to $1.205 billion compared to $1.137 billion for the prior year. Net income rose 11.9% to $100.7 million, or $0.69 per diluted share, compared to net income of $90.0 million, or $0.61 per diluted share for the prior year. Income before taxes were $161,096,000 compared to $143,545,000 for the same period in 2010. EBITDA fell just short of $200 million coming in at $199.1 million. This year, the company has funded its $18 million in capital expenditures.
For the fourth quarter of 2011, the company reported loss on impairment/sale of assets was $541,000 compared to $118,000 for the same period in 2010.
Rollins, Inc. is one of the world's leading providers of inspection and pest control services (insects, rodents, reptiles, etc.) for individuals and companies. Net sales break down by activity as follows:
- insect control and deratting services to residential customers (45%);
- insect control and deratting services to companies (33.9%): aimed in particular at companies operating in the agri-food, health, catering, food distribution and hotel sectors;
- termite extermination services (19.9%);
- other (1.2%).
The United States accounts for 92.7% of net sales.
Rollins Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2011; Announces Impairment Charges for the Fourth Quarter Ended December 31, 2011