Rollins, Inc. (aka Orkin Exterminating) Reports 2001 Profits

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 Subject:  Rollins, Inc. Reports 2001 Results
 Date:        Tue, 22 Jan 2002 09:51:37 -0500
From:        Stephen Tvedten <steve@getipm.com>
Organization:     Get Set Inc. (www.getipm.com)

To:     Paul Helliker <phelliker@cdpr.ca.gov>
          Director, State of California, Department of Pesticide Regulation 

cc:    Christine Whitman whitman.christine@epa.gov

Rollins, Inc. Reports 2001 Results

By 1/18/2002

URL: http://www.pctonline.com/news/news.asp?ID=1017/

ATLANTA — Rollins, Inc. reported a net income increase of 77.4% to $16.9 million or $0.56 per share for the year ended December 31, 2001, compared to $9.5 million or $0.32 per share for 2000.

Earnings before interest, taxes, depreciation and amortization ("EBITDA") were $47.4 million or $1.57 per share for 2001, compared to $33.4 million or $1.11 per share for the year ended December 31, 2000. For 2001, revenues increased .4% to $652.3 million, compared to $649.6 million last year. Revenues increased 2.1% to $150.2 million for the fourth quarter ended Dec. 31, 2001 compared to $147.1 million for the same quarterly period last year. The company reported a net income for the fourth quarter of 2001 of $1.6 million or $0.05 per share, compared to a net loss of $1.7 million or $0.06 per share last year.

The increase in fourth quarter revenue gains versus the third quarter results were partially attributable to the mild start of winter. Operating margins in the fourth quarter were positively impacted by a reduction in marketing expenses and the continued benefit of the recent service initiatives.

"2001 has been a very positive year for the company in light of some challenging economic circumstances," stated Gary W. Rollins, president and chief executive officer of Rollins, Inc. "Our favorable financial results reflect our new service programs and improved customer retention. We are committed to returning to traditional profit margins by increasing recurring revenues and our customer base while increasing productivity and controlling expenses. While we take pride in celebrating Orkin's 100th year of service, we are equally proud of re-engineering our sales and service delivery systems in preparation for the future. We accept the challenge to increase shareholder value through higher operating margins while providing our customers with extraordinary pest control service."

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