ATLANTA - Rollins recorded net income of $68.9 million and earnings of 69 cents a share, compared with net income of $64.7 million and earnings of 64 cents a share in 2007. Annual revenue spiked 14 percent to $1.02 billion.
The boost in revenue and profit was due to an increase its commercial business, an increase in the number of sales and the acquisition of HomeTeam Pest Defense.
"Despite the tough economy, we made headway this year growing our revenues and increasing our profitability,” said Gary W. Rollins, president and CEO, in a news release. “In addition, we achieved a milestone this year when the company's revenues topped $1 billion for the first time. We continued to see the benefits from our program investments, which have generated improved sales growth as well as improved service efficiency".
For the fourth quarter, Rollins had net income of $12.6 million and earnings of 13 cents a share, compared with net income of $11.9 million and earnings of 12 cents a share in the fourth quarter of 2007. Fourth-quarter revenue climbed 15 percent to $248 million.
Rollins operates Orkin Inc., PCO Services, HomeTeam Pest Defense, Western Pest Services and The Industrial Fumigant Co.
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