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ROLLINS TRUCK LEASING CORP. REPORTS FIRST FISCAL QUARTER RESULTS

 WILMINGTON, Del., Jan. 19 /PRNewswire/ -- Rollins Truck Leasing Corp. (NYSE, PSE: RLC) today reported its results for the first fiscal quarter ended Dec. 31, 1992.
 Net earnings for the first quarter of fiscal 1993 increased by 31 percent to $7,498,000 compared with $5,708,000 reported last year. Earnings per share for the quarter were $.24 compared with $.19 in fiscal 1992. The prior year per share amount has been adjusted for the 3-for-2 split of the common stock distributed on Sept. 15, 1992.
 Revenues for the quarter ended Dec. 31, 1992, increased by almost 12 percent to $100,095,000 from $89,628,000 reported for the first quarter last year. Full-service leasing, commercial rental, guaranteed maintenance and dedicated contract carriage revenues all improved over the same quarter of the preceding year.
 The number of new long-term lease contracts increased and commercial rental utilization continued to improve during the first quarter of this year compared with a year earlier, reflecting higher confidence in the economy.
 The company noted that the significant increase in earnings was achieved in a slowly improving economy causing it to be optimistic at this time about the remainder of the fiscal year.
 Rollins Truck Leasing Corp. is one of the largest full-service tractor and truck lessors 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)
 Three months ended Dec. 31 1992 1991
 Revenues $100,095 $89,628
 Expenses:
 Operating 42,401 37,073
 Depreciation, net 27,255 25,464
 Selling and administrative 9,717 8,904
 Total 79,373 71,441
 Earnings before interest
 expense and income taxes 20,722 18,187
 Interest expense, net 8,225 8,674
 Earnings before income taxes 12,497 9,513
 Income taxes 4,999 3,805
 Net earnings 7,498 5,708
 Earnings per share $.24 $.19
 Average common shares and
 equivalents outstanding (000) 30,749 30,506
 ROLLINS TRUCK LEASING CORP.
 Consolidated Balance Sheet
 (Dollars in thousands; unaudited)
 Dec. 31 1992 1991
 Assets:
 Current assets:
 Cash $10,715 $14,916
 Accounts receivable, net 50,544 42,474
 Inventory of parts and supplies 8,423 9,176
 Current deferred income taxes 5,330 ---
 Other current assets 11,024 8,627
 Total 86,036 75,193
 Equipment on operating leases, at cost,
 net of accumulated depreciation 471,857 443,712
 Other property and equipment, at cost,
 net of accumulated depreciation 111,093 100,880
 Notes receivable-Matlack, Inc.
 (including $750 due within one year) 9,500 15,250
 Excess of cost over net assets
 of businesses acquired 12,298 12,522
 Other assets 5,160 5,012
 Total 695,944 652,569
 Liabilities and shareholders' equity:
 Current liabilities (excluding
 equipment financing obligations):
 Accounts payable $6,887 $4,051
 Accrued liabilities 31,620 27,894
 Income taxes payable 4,330 2,329
 Current maturities of long-term debt 1,173 3,110
 Total 44,010 37,384
 Equipment financing obligations 370,348 369,692
 Long-term debt 6,658 8,321
 Deferred income taxes 69,946 57,899
 Other liabilities 7,498 5,245
 Shareholders' equity 197,484 174,028
 Total 695,944 652,569
 -0- 1/19/93
 /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-MK -- PH002 -- 6140 01/19/93 08:42 EST
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Date:Jan 19, 1993
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