Tennant Reports Record Sales in Q4

Minneapolis, MN, Feb. 21, 2012 -- Floor maintenance equipment maker Tennant Company reported net earnings of $11.3 million, or $0.59 per share, on record net sales of $193.2 million for the fourth quarter ended December 31.

In the 2010 fourth quarter, Tennant reported net earnings of $17.0 million, or $0.88 per share, on net sales of $182.8 million.

Results in the 2010 fourth quarter included net special benefits of $0.48 per share, primarily related to tax benefits from an international entity restructuring.

Scrubbers equipped with Tennant’s ec-H2O technology again posted double-digit sales gains, growing approximately 22% in the 2011 fourth quarter compared to the prior year quarter.

For the 2011 full year, sales of ec-H2O equipped scrubbers rose approximately 46% to $140 million, up from $96 million in 2010.

Tennant’s consolidated net sales grew 5.7% to $193.2 million in the 2011 fourth quarter versus $182.8 million for the 2010 fourth quarter.

For the 2011 full year, Tennant reported net earnings of $32.7 million, or $1.69 per share, on net sales of $754.0 million, up 12.9% versus the prior year.