Rollins Reports Record Results
October 29, 1999
Rollins Truck Leasing reports that revenue and earnings for the 1999 fiscal year, which ended Sept. 30, were the highest in the company's history.
Earnings for 1999 before income taxes increased by 9% to a record $92.7 million, compared with $85.1 million last year. Net earnings for the year increased to a record $56.5 million, compared with $52 million in 1998. Revenues for the year were $627.4 million, compared with $610.2 million reported last year.
For the fourth quarter, earnings before income taxes increased to a record $26.4 million, compared with $25.1 million last year. Net earnings increased by 5%. Revenues for the fourth quarter were $164.5 million, compared with $160.9 million last year. Revenues from full-service lease and commercial rental increased over the fourth quarter of 1998. The company's recent acquisition in Canada, which was completed during the fourth quarter, immediately contributed to profitability. In the fourth quarter, the company signed 57% more full-service lease contracts than in the last year's fourth quarter.