Cleaning & Maintenance Management Online

Tennant Company reports 2011 second quarter results

July 29, 2011

MINNEAPOLIS — Tennant Company has reported net earnings of $5.9 million, or $0.30 per diluted share, on record net sales of $201.3 million for the second quarter that ended June 30, 2011, according to a press release.

In the prior year quarter, Tennant reported net earnings of $6.2 million, or $0.32 per diluted share, on net sales of $166.1 million, the release stated.

According to the release, Tennant recorded special charges in the 2011 second quarter totaling $5 million after tax, or a $0.26 loss per diluted share.

"We are very pleased with the company''s record second quarter sales, which surpassed any previous quarter in our history," said Chris Killingstad, Tennant Company''s president and chief executive officer.

"This was our sixth consecutive quarter of double-digit organic sales growth. Notably, these results come on top of the double-digit sales gains we saw in the second quarter of last year. The increased revenue was driven by robust growth across all of our geographies and throughout our entire product portfolio, with the exception of city cleaning," Killingstad added.

Click here to read the complete release.