ATLANTA, July 29 /PRNewswire-FirstCall/ — Rollins, Inc. (NYSE: ROL), a premier North American consumer and commercial services company, today reported unaudited financial results for its second quarter ended June 30, 2009. Revenues for the second quarter of 2009 were flat at $284.6 million, compared to $284.5 million for the second quarter of 2008. The negative impact of the Canadian dollar on second quarter revenues was partially offset by the Company’s recent acquisition of Crane Pest Control.
Net income increased 12.1% to $25.5 million or $0.26 per diluted share for the second quarter compared to $22.7 million or $0.23 per diluted share for the same period last year.
The Company repurchased 700,400 shares of common stock at a weighted average price of $16.90 per share during the second quarter bringing the total number of shares repurchased year-to-date to 1,303,800 at a weighted average price of $16.11. In total, approximately 3.3 million additional shares may be purchased under its share repurchase program.
Gary W. Rollins, President and Chief Executive Officer of Rollins, Inc. commented, “We are pleased with our net income improvements for the quarter and the year as we continue to benefit from the proactive expense reduction and productivity related programs we launched at the beginning of 2009. Although our flat revenue performance would be highly desirable for many companies in today’s business environment, we continue to challenge ourselves to better execute our revenue generating initiatives.”
Mr. Rollins, concluded, “As a parent company, Rollins, Inc. today is made up of the top pest control brands in North America. In the past decade, we have evolved into an organization that is far broader than Orkin. We are especially proud of the expertise, and effort exhibited by all of our employees during these demanding economic times.”
Rollins, Inc. is a premier North American consumer and commercial services company. Through its wholly owned subsidiaries, Orkin, Inc., PCO Services, HomeTeam Pest Defense, Western Pest Services, The Industrial Fumigant Company and Crane Pest Control, the Company provides essential pest control services and protection against termite damage, rodents and insects to over 2 million customers in the United States, Canada, Mexico, Central America, the Caribbean, the Middle East and Asia from over 500 locations.