ATLANTA - Rollins, Inc. reported recorded first quarter revenues of $429.1 million, an increase of 5.0% over the prior year's first quarter revenue of $408.7 million. Rollins reported net income of $44.2 million or $0.14 per diluted share in the first quarter ended March 31, 2019, compared to $48.5 million or $0.15 per diluted share for the same period in 2018.
Gary W. Rollins, Vice Chairman and Chief Executive Officer of Rollins, Inc. stated, "We had a successful quarter even while feeling the effects of arctic weather and torrential rains in the country causing termites and other pests to remain dormant for the first quarter, however the company had improvements in both customer and employee retention. We look forward to warm weather and the spring pest season."
"Our operations were well prepared and ready for a spring that has been delayed in many parts of the United States. Additionally, several items negatively impacted our EPS for the quarter by 1.5 cents. Mainly a higher tax rate, the strengthening U.S. dollar against foreign currency, professional services expenses related to acquisitions and enhanced employee benefit participation, affected the quarter by an average of $1M each," stated Eddie Northen, Senior VP, CFO, and Treasurer of Rollins, Inc.
The Company continues to expect to close the acquisition of Clark Pest Control of Stockton, Inc. located in Lodi, California during the second quarter of 2019. Closing remains subject to the receipt of regulatory clearance. Over the past month, we have completed the due diligence and met with expanded members of the Clark team and continue to be eager to bring them into our family of brands.
Source: PRNewswire
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