Tennant Company has reported net earnings of US$13.7 million, or US$0.71 per diluted share, on net sales of US$199.5 million for the second quarter ended June 30, 2012.
“We are pleased to report a solid second quarter, with record operating profit resulting in very strong operating profit margins and higher earnings. Our strategies to innovate in our core business and with new water-based technologies while lowering Tennant’s cost structure to enhance profitability are working,” commented Chris Killingstad, Tennant Company’s president and chief executive officer
“Although sales growth was constrained by global economic headwinds, organic sales rose about 3 percent, driven by an organic sales increase of approximately 7 percent in our largest geography, the Americas,” he added.
Tennant noted that contributing to 2012 second quarter results were sales to strategic accounts, as well as sales of two of Tennant’s environmentally friendly offerings. They are the industrial rider scrubbers equipped with ec-H2O electrically activated water technology and the lithium-ion battery powered Green Machines 500ze city cleaning sweepers.
“Tennant remains committed to being an industry innovation leader and aims to set the standard for sustainable cleaning around the world. These two products illustrate that we’re making progress toward that goal,” Killingstad stated.
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