MINNEAPOLIS — Tennant Company reported a fourth-quarter loss of $16.9 million, according to TradingMarkets.com.
Net sales for the quarter were $153.3 million, beating the company''s $140 million expectation, the story stated.
Chris Killingstad, Tennant Company''s president and chief executive officer, said: "We continue to pursue our growth and operational excellence strategies, which should position the company to remain competitive and allow us to return to historical levels of profitable growth when the economy improves."
Net earnings for the entire 2008 fiscal year were $10.6 million on net sales of $701.4 million, the story noted.
Tennant''s strategic priorities remain: Employing continuous process improvement; improving operational excellence through lean manufacturing initiatives and a global, low-cost sourcing platform; and growing sales through innovative new products and service solutions, as well as through international market expansion, the story added.
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