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ROLLINS TRUCK LEASING REPORTS THIRD QUARTER RESULTS; REVENUES UP 14 PERCENT; EARNINGS UP 33 PERCENT

 ROLLINS TRUCK LEASING REPORTS THIRD QUARTER RESULTS;
 REVENUES UP 14 PERCENT; EARNINGS UP 33 PERCENT
 WILMINGTON, Del., July 16 /PRNewswire/ -- Rollins Truck Leasing Corp. (NYSE, PSE: RLC) today reported its results for the third fiscal quarter and the nine months ended June 30, 1992.
 Revenues for the third quarter increased by 14 percent to $98,260,000 from the $86,396,000 reported in the prior year. Net earnings increased by 33 percent to $6,538,000 compared with $4,908,000 reported in 1991. Earnings per share improved to $.32 vs. $.26 last year.
 Revenues from full-service lease, guaranteed maintenance, commercial rental and dedicated carriage services all increased in the third quarter. Several small acquisitions made within the past 12 months contributed to the improved revenue in the third quarter.
 Revenues for the nine months ended June 30, 1992, increased by nearly 11 percent to $279,704,000 from the $253,051,000 reported last year. Net earnings were $17,124,000 or $.84 per share compared with $13,529,000 or $.72 per share in 1991.
 The company noted that the signing of new long-term leases and the utilization of short-term commercial rental vehicles improved during the quarter. The company said it expects economic conditions to improve gradually during the remainder of the year.
 Rollins Truck Leasing Corp. is one of the largest full-service tractor and truck leasing companies in the United States. The company services more than 23,000 vehicles from almost 200 locations throughout the country.
 ROLLINS TRUCK LEASING CORP.
 Consolidated Statement of Earnings
 (Dollars in thousands; unaudited)
 Periods ended Three Months Nine Months
 June 30 1992 1991 1992 1991
 Revenues $98,260 $86,396 $279,704


$253,051
 Expenses:
 Operating 41,753 35,530 117,570


104,468
 Depreciation, net 27,551 24,665 79,622


72,159
 Selling and administrative 8,957 8,497 27,449


24,662
 Total 78,261 68,692 224,641


201,289
 Earnings before interest
 expense and income taxes 19,999 17,704 55,063


51,762
 Interest expense, net 9,102 9,569 26,523


29,374
 Earnings before
 income taxes 10,897 8,135 28,540


22,388
 Income taxes 4,359 3,227 11,416


8,859
 Net earnings 6,538 4,908 17,124


13,529
 Earnings per share $.32 $.26 $.84 $.72
 Average common shares and
 equivalents outstanding
 (000) --- --- 20,431


18,829
 ROLLINS TRUCK LEASING CORP.
 Consolidated Balance Sheet
 (Dollars in thousands; unaudited)
 June 30 1992 1991
 Assets:
 Current assets:
 Cash $20,951 $14,064
 Accounts receivable, net 48,423 40,540
 Inventory of parts and supplies 8,810 7,861
 Other current assets 8,555 7,230
 Total 86,739 69,695
 Equipment on operating leases,
 at cost, net of accumulated
 depreciation 472,980 451,182
 Other property and equipment,
 at cost, net of accumulated
 depreciation 106,475 96,395
 Notes receivable-Matlack,
 Inc. ($1,500 due in one year) 15,250 16,000
 Excess of cost over net
 assets of businesses acquired 12,409 12,634
 Other assets 4,195 4,587
 Total 698,048 650,493
 Liabilities and shareholders'equity:
 Current liabilities (excluding
 equipment financing obligations):
 Accounts payable $6,110 $5,859
 Accrued liabilities 29,704 24,401
 Income taxes payable 409 1,107
 Current maturities of long-
 term debt 2,277 3,631
 Total 38,500 34,998
 Equipment financing obligations 401,179 388,572
 Long-term debt 6,982 21,325
 Deferred income taxes 61,610 54,206
 Other liabilities 6,158 6,745
 Shareholders' equity 183,619 144,647
 Total 698,048 650,493
 -0- 7/16/92
 /CONTACT: Patrick J. Bagley, vice president and treasurer of Rollins Truck Leasing, 302-426-3409/
 (RLC) CO: Rollins Truck Leasing Corp. ST: Delaware IN: TRN SU: ERN


MP-SF -- PH001 -- 9847 07/16/92 08:12 EDT
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Date:Jul 16, 1992
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