Rollins, Inc. Reports Fourth Quarter And Full Year 2014 Record Financial Results
- Revenue increased 5.9% for the quarter and 5.5% for full year
- Income before taxes rose 13.0% for the quarter and 14.5% for the full year
- Net income up 7.0% for the quarter and 11.6% for the full year
- Earnings per diluted share rose 10.5% for the quarter to
$0.21 from$0.19 , and up 11.9% to$0.94 from$0.84 for the full year
All share and per share information is shown prior to the 3-for-2 stock dividend effective
The Company recorded fourth quarter revenues of
Rollins' revenues for the full year rose 5.5% to
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 (i) expectation to accelerate the implementation of the branch CRM and operating system, and (ii) strategic initiatives in place to help achieve financial objectives for 2015 while providing customers with award winning pest control service. 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
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CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION |
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(in thousands) |
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At |
2014 |
2013 |
|
ASSETS |
|||
Cash and cash equivalents |
$ 108,372 |
$ 118,216 |
|
Trade accounts receivables, net |
77,854 |
72,849 |
|
Financed receivables, net |
12,234 |
12,220 |
|
Materials and supplies |
14,078 |
12,251 |
|
Deferred income taxes, net |
42,764 |
39,518 |
|
Other current assets |
28,656 |
19,388 |
|
Total Current Assets |
283,958</span> |
274,442 |
|
Equipment and property, net |
101,669 |
87,215 |
|
Goodwill |
255,563 |
211,847 |
|
Customer contracts and other intangible assets, net |
133,472 |
128,569 |
|
Deferred income taxes, net |
7,881 |
4,544 |
|
Financed receivables, long-term, net |
11,787 |
11,608 |
|
Prepaid Pension |
- |
7,113 |
|
Other assets |
13,832 |
13,879 |
|
Total Assets |
$ 808,162 |
$ 739,217 |
|
LIABILITIES |
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Accounts payable |
$ 22,878 |
$ 23,194 |
|
Accrued insurance, current |
24,204 |
25,631 |
|
Accrued compensation and related liabilities |
74,090 |
66,175 |
|
Unearned revenue |
94,056 |
91,014 |
|
Other current liabilities |
37,451 |
29,778 |
|
Total Current Liabilities |
252,679 |
235,792 |
|
Accrued insurance, less current portion |
30,946 |
28,245 |
|
Accrued pension |
29,558 |
691 |
|
Long-term accrued liabilities |
32,303 |
36,234 |
|
Total Liabilities |
345,486 |
300,962 |
|
STOCKHOLDERS' EQUITY |
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Common stock |
145,522 |
145,864 |
|
Retained earnings and other equity |
317,154 |
292,391 |
|
Total stockholders' equity |
462,676 |
438,255 |
|
Total Liabilities and Stockholders' Equity |
$ 808,162 |
$ 739,217 |
|
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CONDENSED CONSOLIDATED STATEMENTS OF INCOME |
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(in thousands except per share data) |
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(unaudited) |
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Fourth Quarter Ended |
Twelve Months Ended |
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|
|
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2014 |
2013 |
2014 |
2013 |
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REVENUES |
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Customer services |
$ 343,951 |
$ 324,707 |
|
$ 1,337,374 |
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COSTS AND EXPENSES |
|||||||
Cost of services provided |
174,979 |
167,357 |
707,739 |
678,459 |
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Depreciation and amortization |
11,250 |
9,833 |
43,509 |
39,571 |
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Sales, general and administrative |
111,357 |
106,362 |
441,706 |
428,288 |
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(Gain)/loss on sales/impairment of assets, net |
(54) |
81 |
(618) |
(165) |
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Interest (income)/expense |
(116) |
(112) |
(254) |
(385) |
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297,416 |
283,521 |
1,192,082 |
1,145,768 |
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INCOME BEFORE INCOME TAXES |
46,535 |
41,186 |
219,484 |
191,606 |
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PROVISION FOR INCOME TAXES |
16,618 |
13,229 |
81,820 |
68,276 |
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NET INCOME |
$ 29,917 |
$ 27,957 |
$ 137,664 |
$ 123,330 |
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NET INCOME PER SHARE - BASIC |
$ 0.21 |
$ 0.19 |
$ 0.94 |
$ 0.84 |
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NET INCOME PER SHARE - DILUTED |
$ 0.21 |
$ 0.19 |
$ 0.94 |
$ 0.84 |
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Weighted average shares outstanding - basic and diluted |
145,524 |
145,872 |
145,796 |
146,081 |
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CONFERENCE CALL ANNOUNCEMENT
(NYSE: ROL)
Management will hold a conference call to discuss
Fourth Quarter and Full-Year 2014 results on:
TO PARTICIPATE:
Please dial 888-438-5535 domestic;
719-325-2432 international
at least 5 minutes before start time.
REPLAY: available through
Please dial 888-203-1112/719-457-0820, Passcode: 8203851
THIS CALL CAN ALSO BE ACCESSED THROUGH THE INTERNET AT
www.viavid.com
Questions?
Contact
Or email to [email protected]
For Further Information Contact
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/rollins-inc-reports-fourth-quarter-and-full-year-2014-record-financial-results-300026559.html
SOURCE
Boeing Reports Record 2014 Revenue, Core EPS and Backlog and Provides 2015 Guidance
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