Tennant 2Q Earnings Up 14%

Minneapolis, MN, August 1, 2007--Tennant Co. reported second-quarter profit rose 14%, prompting the floor-cleaning equipment maker to boost its earnings guidance for the year.

The company posted net income of $10.5 million, or $0.55 per share, up from $9.2 million, or $0.48 per share, during the same period a year earlier.

The company said sales increased in all of its geographic markets, rising to a total of $165.2 million, compared with $151 million a year ago.

Tennant boosted its full-year outlook to a range of $1.77 per share to $1.85 per share, up from a previous forecast of $1.72 per share to $1.80 per share. The forecast includes expenses related to the company's expansion in China and its manufacturing consolidation initiatives.