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Last $64.80 USD
Change Today +0.51 / 0.79%
Volume 55.0K
TNC On Other Exchanges
New York
As of 8:04 PM 05/1/15 All times are local (Market data is delayed by at least 15 minutes).

tennant co (TNC) Key Developments

Tennant Company Declares Quarterly Cash Dividend, Payable on June 15, 2015

Directors of Tennant Company declared a regular quarterly cash dividend of 20 cents per share payable June 15, 2015, to shareholders of record at the close of business on May 29, 2015.

Tennant Company Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Full Year of 2015

Tennant Company reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net sales of $185,740,000 against $183,979,000 a year ago. Unfavorable foreign currency exchange reduced consolidated net sales by approximately 5.0%. Organic net sales, which exclude the impact of foreign currency exchange (and acquisitions when applicable), increased approximately 6.0%. Profit from operations was $8,254,000 against $9,237,000 a year ago. Due to the strength of the U.S. dollar in the 2015 first quarter, foreign currency exchange reduced operating profit by approximately $1.9 million. Profit before income taxes was $7,432,000 against $8,587,000 a year ago. Net earnings were $5,026,000 against $5,795,000 a year ago. Diluted net earnings per share were $0.27 against $0.31 a year ago. Net cash used in operating activities was $2,122,000 against $3,913,000 a year ago. Cash from operations, which is typically negative in the first quarter due to the seasonality in the business. Purchases of property, plant and equipment was $4,129,000 against $3,511,000 a year ago. For 2015, based on its 2015 first quarter results and expectations of future performance, the company continues to estimate 2015 full year net sales in the range of $825 million to $855 million, up 0.4% to 4.0%, or up approximately 5% to 9% organically, assuming an unfavorable foreign currency exchange impact on sales in the range of 4% to 6%. The company expects 2015 full year earnings in the range of $2.40 to $2.70 per diluted share. As stated previously, foreign currency exchange headwinds in 2015 are estimated to negatively impact operating profit in the range of $10 million to $12 million, or approximately $0.37 to $0.44 earnings per diluted share. The estimated higher effective tax rate in 2015 is anticipated to negatively impact earnings per diluted share by approximately $0.14. The company expects its 2015 financial results to be stronger in the second half of the year. The company 2015 annual financial outlook includes the assumptions: Economic strength in North America and modest improvement in Europe, and growth in emerging markets; Increased foreign currency impact on sales for the full year in the range of an unfavorable 4% to 6%, with a $10 million to $12 million negative effect on operating profit; Gross margin performance of approximately 43%; R&D expense of approximately 4% of sales, as the company continues to invest in its core products and in water-based cleaning technologies; Capital expenditures in the range of $25 million to $28 million; and an effective tax rate of approximately 31%, including the anticipated enactment of the 2015 Federal R&D tax credit.

Tennant Company to Report Q1, 2015 Results on Apr 27, 2015

Tennant Company announced that they will report Q1, 2015 results at 10:00 AM, Central Standard Time on Apr 27, 2015

Tennant Company, Q1 2015 Earnings Call, Apr 27, 2015

Tennant Company, Q1 2015 Earnings Call, Apr 27, 2015

Tennant Company Announces Lunch of ec-H2O NanoClean

Tennant Company announced ec-H2O NanoClean, the next generation of the sustainable cleaning technology ec-H2O. This next generation solution offers the same great benefits of the original and now cleans better, cleans more soils, and is effective in more applications. Like the original ec-H2O, ec-H2O NanoClean technology electrically converts water into an innovative cleaning solution that cleans effectively, saves money and reduces environmental impact compared to daily floor cleaning chemicals. This converted water is created by an on-board e-cell that generates millions of microscopic bubbles nanobubbles per milliliter of solution. These nanobubbles then promote the cleaning efficacy of the solution. Bulk nanobubbles may be defined as nanoscopic gaseous domains less than 1,000 nanometers in diameter. They are spherical in shape, mobile and suspended in an aqueous environment/solution at ambient temperatures. Studies by independent parties have determined that they are gas-filled and stable for minutes to hours. Tennant and third-party scientists have demonstrated in the lab a direct connection between nanobubbles and cleaning efficacy which Tennant has translated into improved cleaning performance in customer environments. Experiences from customers using ec-H2O NanoClean in their environments are documented at NanoClean Customer Testimonials.


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