The parent company of Orkin and other brands reported that its fourth-quarter net income rose 12 percent on higher demand for its services.
ATLANTA - Rollins, Inc., parent company of Orkin and other brands, reported that its fourth-quarter net income rose 12 percent on higher demand for its services.
The company reported that net income for the three months ended Dec. 31 rose to $21.6 million, or 15 cents per share, from $19.2 million, or 13 cents per share, a year earlier. That matched analyst expectations, according to FactSet.
Revenue rose 3 percent to $289.1 million.
For the year, net income rose 12 percent to $100.7 million, or 69 cents per share, from $90 million, or 61 cents per share. Revenue rose 6 percent to $1.21 billion from $1.14 billion last year.
"This year we exceeded our revenue and profit plans, and we surpassed the $100 million net income milestone," said CEO Gary W. Rollins.
On Tuesday, Rollins raised its quarterly dividend 14.3 percent to 8 cents from 7 cents. Its next dividend is payable March 9 to shareholders of record on Feb. 10.