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 2011 Fourth Quarter and Full Year Results
 
Net sales grew 6 percent to a record fourth quarter of $193.2 million;
Quarterly gross margin of 43.2 percent exceeded target range;
Operating profit margin rose to 8.0 percent from 6.3 percent as adjusted
in prior year quarter;
Quarterly diluted EPS of $0.59 versus $0.40 adjusted diluted EPS in year ago period;
2011 record year with $754.0 million net sales and $1.95 adjusted diluted EPS;
Company provides 2012 sales and earnings guidance
 
MINNEAPOLIS, Feb. 21, 2012—Tennant Company (NYSE: TNC), a world leader in designing, manufacturing and marketing of solutions that help create a cleaner, safer, healthier world, today reported net earnings of $11.3 million, or $0.59 per diluted share, on net sales of $193.2 million for the fourth quarter ended December 31, 2011. In the 2010 fourth quarter, Tennant reported net earnings of $17.0 million, or $0.88 per diluted share, on net sales of $182.8 million. Results in the 2010 fourth quarter included net special benefits of $0.48 per diluted share, primarily related to tax benefits from an international entity restructuring. Excluding special benefits, adjusted 2010 fourth quarter earnings totaled $0.40 per diluted share. (See the Supplemental Non-GAAP Financial Table.)
“We are pleased to report record fourth quarter sales, which resulted in 48 percent growth in adjusted diluted earnings per share compared to the prior year quarter,” said Chris Killingstad, Tennant Company's president and chief executive officer. “Tennant’s robust financial performance was driven in part by strong sales of industrial equipment in the Americas region and increased global sales of scrubbers equipped with our sustainable, water-based ec-H2OTM cleaning technology.”
Scrubbers equipped with Tennant’s ec-H2O technology again posted double-digit sales gains, growing approximately 22 percent 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 percent to $140 million, up from $96 million in 2010.
               Commented Killingstad: “Our full year sales of scrubbers equipped with ec-H2O hit the top end of our stated revenue range for the year, demonstrating that this technology continues to be widely adopted by customers around the world. As a result, ec-H2O sales were a key contributor to Tennant’s 13 percent revenue increase for the 2011 full year versus 2010.”
 
(more)
 
 
 

The following information was filed by Tennant Co (TNC) on Tuesday, February 21, 2012 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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