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Rollins Reports Third Quarter 2009 Financial Results

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Revenues for the third quarter of 2009 grew 3.2% to $286.9 million compared to $277.9 million for the third quarter of 2008.

Company news | November 2, 2009

ATLANTA — Rollins, Inc., parent company of Orkin, last week reported unaudited financial results for its third quarter ended September 30, 2009. Revenues for the third quarter of 2009 grew 3.2% to $286.9 million compared to $277.9 million for the third quarter of 2008.

Net income increased 14.8% to $22.7 million or $0.23 per diluted share for the third quarter compared to $19.8 million or $0.20 per diluted share for the same period last year.

The company repurchased 146,300 shares of common stock at a weighted average price of $17.81 per share during the third quarter bringing the total number of shares repurchased year-to-date to 1,450,100 at a weighted average price of $16.28. In total, approximately 3.2 million additional shares may be purchased under its share repurchase program.

"Rollins again delivered solid quarterly results. We were especially pleased to experience increased revenue across our entire family of companies," said Gary W. Rollins, President and Chief Executive Officer of Rollins, Inc. "Our revenue and lead generation programs are working and we are benefiting from a planned increase in our sales staff."

Rollins, concluded, "We are clearly focused on successfully completing the year while maintaining the positive momentum in revenue growth, expense control, and service performance improvement."
 

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