Tennant Company (NYSE: TNC), a world leader in designing, manufacturing
and marketing of solutions that help create a cleaner, safer, healthier
world, today announced that Karel Huijser, Vice President of the
company’s International business unit, will be leaving the company but
will continue to work for a period of time to complete the transition of
his duties. Huijser joined the company in 2006.
"I want to thank Karel for his service to Tennant,” said Chris
Killingstad, president and CEO of Tennant Company. The company does not
plan to replace Huijser at this time. According to Killingstad, the
company will use this opportunity to leverage the strengths of the
regional leaders based in Europe, China and Australia.
"For the remainder of 2011, we still anticipate continued recovery in
North America, strong growth in emerging markets and modestly improving
conditions in Europe,” said Killingstad. "We remain committed to
managing the business with a focus on operational excellence and
rigorous cost controls while making selective investments in key
strategic priorities.”
For the second quarter ending June 30, 2011, Tennant Company anticipates
overall revenue growth to be approximately in line with the 15 percent
gain reported in the 2011 first quarter.
Killingstad said, "We are pleased with the momentum we are seeing
currently in the marketplace and are reiterating our guidance for the
2011 year for earnings in the range of $1.75 to $1.95 per diluted share
on net sales in the range of $710 million to $730 million.” This annual
guidance is based on expectations outlined in the first quarter results
press release dated April 21, 2011.
The company expects to release results for the 2011 second quarter and
first half of 2011 on July 28, 2011,
and conduct its quarterly
conference call that morning.
About Tennant Company
Minneapolis-based
Tennant Company (NYSE: TNC) is a world leader in designing,
manufacturing and marketing solutions that help create a cleaner, safer,
healthier world. Its products include equipment for maintaining surfaces
in industrial, commercial and outdoor environments; chemical-free and
other sustainable cleaning technologies; and specialty surface coatings
for protecting, repairing and upgrading floors. Tennant's global field
service network is the most extensive in the industry. Tennant has
manufacturing operations in Minneapolis, Minn.; Holland, Mich.;
Louisville, Ky; Uden, The Netherlands; the United Kingdom; São Paulo,
Brazil; and Shanghai, China; and sells products directly in 15 countries
and through distributors in more than 80 countries. For more
information, visit http://www.tennantco.com.
Forward-Looking Statements
Certain
statements contained in this document, as well as other written and oral
statements made by us from time to time, are considered "forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act. These statements do not relate to strictly historical or
current facts and provide current expectations or forecasts of future
events. Any such expectations or forecasts of future events are subject
to a variety of factors. These include factors that affect all
businesses operating in a global market as well as matters specific to
us and the markets we serve. Particular risks and uncertainties
presently facing us include: geopolitical and economic uncertainty
throughout the world; the competition in our business; our ability to
effectively manage organizational changes; our ability to comply with
laws and regulations; our ability to effectively maintain and manage the
data in our computer systems; our ability to develop new innovative
products and services; our ability to successfully upgrade and evolve
the capabilities of our computer systems; our ability to attract and
retain key personnel; the occurrence of a significant business
interruption; fluctuations in the cost or availability of raw materials
and purchased components; unforeseen product liability claims or product
quality issues; our ability to acquire, retain and protect proprietary
intellectual property rights; and the relative strength of the U.S.
dollar, which affects the cost of our materials and products purchased
and sold internationally.
We caution that forward-looking statements must be considered carefully
and that actual results may differ in material ways due to risks and
uncertainties both known and unknown. Shareholders, potential investors
and other readers are urged to consider these factors in evaluating
forward-looking statements and are cautioned not to place undue reliance
on such forward-looking statements. For additional information about
factors that could materially affect Tennant's results, please see our
other Securities and Exchange Commission filings, including disclosures
under "Risk Factors.” We do not undertake to update any forward-looking
statement, and investors are advised to consult any further disclosures
by us on this matter in our filings with the Securities and Exchange
Commission and in other written statements we make from time to time. It
is not possible to anticipate or foresee all risk factors, and investors
should not consider any list of such factors to be an exhaustive or
complete list of all risks or uncertainties.
