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ROLLINS TRUCK LEASING CORP. REPORTS RECORD EARNINGS FOR THE FOURTH FISCAL QUARTER AND FULL YEAR
Rollins Truck Leasing Corp. (NYSE;PSE - Symbol RLC) today reported its results for the fourth fiscal quarter and the year ended September 30, 1997.
Earnings before income taxes for the fourth quarter increased by 27% to $22,391,000
compared with $17,605,000 last year.
Net earnings increased by 28% to $13,576,000 compared with $10,586,000 reported in 1996.
Earnings per share was $.32 compared with $.25 last year.
Revenues for the fourth quarter increased by 9% to $148,536,000 from the $135,843,000 reported in the prior year. Revenues from full-service lease, logistics, guaranteed maintenance and commercial rental all increased over the fourth quarter of 1996. Operating margin (earnings before interest and taxes) increased in the fourth quarter of 1997 to 23.5% compared with 21.8% last year.
Earnings before income taxes for the year increased by 26% to a record $70,211,000 compared with $55,927,000 last year. Net earnings for the year increased to record $42,794,000 or $1.01 per share compared with $34,116,000 or $.78 per share in 1996. Fewer shares were outstanding in 1997 due to the repurchase of 2,483,800 share of common stock during the year. Revenues for the year ended September 30, 1997 increased by 8% to $556,704,000 from the $513,779,000 reported last year.
Overall demand for transportation services was strong in the fourth quarter and similar conditions exist in the current quarter.
Rollins Truck Leasing Corp., the nation's third largest full-service truck leasing and
rental company, maintains more than 200 facilities strategically located throughout the United States.
Through its subsidiaries, the Company services more than 34,000 vehicles, provides logistics services
and manages complete truck transportation and distribution systems for companies in a widerange of industries.
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