Green cleaning machines send Tennant profit up
October 27, 2010
MINNEAPOLIS, MN — Tennant Company''s pursuit of environmentally friendly cleaning technology continued to pay off in the third quarter for the Golden Valley-based maker of floor scrubbing machines, boosting sales nine percent and earnings 29 percent, according to the Star Tribune.
Wall Street took notice after the company posted the better-than-expected results Tuesday and raised its 2010 guidance, sending the shares up almost 10 percent for the day, the article noted.
Tennant said sales of products introduced in the past three years generated about 46 percent of equipment sales during the quarter and about 40 percent year-to-date, the article stated.
According to the article, one such product, cleaning machines that use its chemical-free ecH2O technology, had record sales in the third quarter.
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