Exhibit 99
 
 
 INVESTOR CONTACT:      MEDIA CONTACT:
 Tom Paulson        Kathryn Lovik
 Vice President and Chief Financial Officer
 Director, Communications
 763-540-1204  763-540-1212
 
Tennant Company Reports 2009 Fourth Quarter and Full Year Results
 
Quarterly net sales increased year over year for first time in five quarters;
Quarterly EPS was $0.35 versus year earlier loss;
Gross margins reached 41% for the year, meeting company’s objective;
Company generated $75 million in cash from operations in 2009 and further reduced debt;
Higher sales and profitability anticipated in 2010

MINNEAPOLIS, Minn., February 23, 2010
Tennant Company (NYSE: TNC), a world leader in designing, manufacturing and marketing of solutions that help create a cleaner, safer world, today reported net earnings of $6.7 million, or $0.35 per diluted share, on net sales of $164.2 million for the fourth quarter ended December 31, 2009. The results included a $0.10 per diluted share benefit from a United Kingdom business reorganization and a $0.01 loss per diluted share from discrete net unfavorable tax items. In the comparable quarter a year ago, Tennant had a net loss of $16.9 million, or a $0.93 loss per diluted share, on net sales of $153.3 million. The year earlier loss included pretax charges of $19.8 million, or an $0.88 loss per diluted share, for restructuring activities.
Chris Killingstad, Tennant company’s president and chief executive officer, said, “We posted sequential sales gains for the third consecutive quarter in the 2009 fourth quarter, and we are pleased to return to year-over-year sales growth for the first time since the third quarter of 2008. While we continued to face difficult selling conditions, we were encouraged by the sales growth in North America and China in the 2009 fourth quarter.”
Tennant generated $75.2 million in cash from operations in 2009 versus $37.4 million in 2008. Throughout the year, the company paid down debt and ended 2009 with debt of $34.2 million compared to $95.3 million a year earlier. At 2009 year-end, total cash was $18.1 million compared to $29.3 million a year ago. Tennant raised its quarterly dividend in the 2009 fourth quarter by 8 percent to $0.14 per share. The company has increased its annual cash dividend payout for 38 consecutive years.
Consistent with its guiding principles, Tennant adjusted to 2009’s low growth economy, without sacrificing the company’s long-term potential; prudently allocated scarce resources to initiatives that position the company to deliver against controllable objectives, such as savings from global, low-cost sourcing and lean manufacturing initiatives and investments in key research and development projects; and optimized cash through conservative planning, discipline in capital expenditures and a focus on working capital management.
 
(more)

The following information was filed by Tennant Co (TNC) on Tuesday, February 23, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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