Rollins, Inc. (NYSE:ROL), a premier global consumer and commercial services company, reported unaudited financial results for its third quarter and nine months ended September 30, 2016.
The Company recorded third quarter revenues of $424.0 million, an increase of 6.1% over the prior year’s $399.7 million. Rollins’ net income increased 10.2% to $49.7 million or $0.23 per diluted share for the third quarter ended September 30, 2016, compared to $45.0 million or $0.21 per diluted share for the same period in 2015.
Rollins’ revenues rose 5.8% for the first nine months of 2016 to $1.188 billion compared to $1.123 billion for the prior year. Net income for the first nine months of 2016 was $129.4 million, an increase of 7.4%, to $0.59 per diluted share compared to $120.4 million or $0.55 per diluted share for the same period last year.
Additionally, in the third quarter of 2016, the Company purchased 416,230 shares of the Company’s stock under its share repurchase program, 835,559 shares have been repurchased year-to-date. 5.1 million additional shares may be purchased under previous approval by the Board of Directors.
Commenting on the Company’s financial results, Gary W. Rollins, Vice Chairman and Chief Executive Officer of Rollins, Inc. stated, “We are very pleased with the financial results our Company reported for the third quarter. The strong growth we experienced across the Company reflects the positive benefits we are realizing from the investments we have made in marketing and sales training.”
Mr. Rollins, concluded, “Our progress in the first nine months of this year has been solid and we are optimistic about completing another successful year; one that includes gaining market share and enhanced service delivery to our customers. Our strategy and action plans have enabled us to grow our business both organically and through strategic acquisitions.”
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.