ATLANTA — Rollins reported strong unaudited financial results for its third quarter and nine months ended Sept. 30, 2014.
The company recorded third quarter revenues of $384.9 million, an increase of 6.3% compared to $362.2 million in the prior year's third quarter. Net Income increased 13.6% to $41.1 million or $0.28 per diluted share for the third quarter ended Sept. 30, 2014, compared to $36.2 million or $0.25 per diluted share for the same period in 2013.
Rollins' revenues rose 5.4% for the first nine months of 2014 to $1.068 billion compared to $1.013 billion for the prior year. Net income for the first nine months of 2014 was $107.7 million, an increase of 13.0%, or $0.74 per diluted share compared to $95.4 million or $0.65 per diluted share for the same period last year.
In the third quarter, the company repurchased 779,267 shares under its share repurchase program and 1,005,279 shares have been repurchased year-to-date. In total, 3,952,205 additional shares may be purchased under previously approved programs by the Board of Directors.
Commenting on the company's results, Gary W. Rollins, Vice Chairman and Chief Executive Officer of Rollins, Inc. stated, "We are pleased to report another quarter of improved revenue and earnings. Our Company's solid financial results for the quarter and first nine months of the year reflect the growth from all business lines and the positive results from the investments we are making."
Rollins continued, "We were pleased to add to our family of brands with the acquisition of PermaTreat on August 1 and look forward to working with their fine team. Our company is on track for another successful year and we are working on 2015 initiatives to ensure continuous improvement in our customer service and increasing value for all our stakeholders.