$TNC (Tennant Company)

$TNC {{ '2016-08-01T18:02:43+0000' | timeago}} • Announcement

$TNC expanded its Floor Coatings business with the July 28, 2016 assets & liabilities purchase related to the commercial floor coatings business from Crawford Laboratories, Inc. and affiliates, owners of the Florock Polymer Flooring brand. $TNC will retain the Florock brand and manage the Tennant and Florock brands and sales channels separately.

$TNC {{ '2017-11-10T12:11:05+0000' | timeago}} • Announcement

$TNC has declared a regular quarterly cash dividend of $0.21 per share on its common stock. The dividend is payable on December 15, 2017, to shareholders of record on November 30, 2017.

$TNC {{ '2017-09-28T18:13:42+0000' | timeago}} • Announcement

$TNC), a leading cleaning solutions provider, announced the appointment of Jeffrey L. Cotter as Senior Vice President, General Counsel and Corporate Secretary, effective September 25, 2017. Mr. Cotter replaces Heidi Wilson who announced her retirement earlier this year.

$TNC {{ '2017-08-18T10:49:38+0000' | timeago}} • Announcement

$TNC has declared a regular quarterly cash dividend of 21 cents per share on its common stock. The dividend is payable on September 15, 2017, to shareholders of record on August 31, 2017.

$TNC {{ '2017-04-24T18:28:10+0000' | timeago}} • Webcast

On the organic growth in Europe, $TNC commented that the underlying European economy is improving and as well the company's business. The company also added that it has been a gradual improvement over the last three to four years, with strategic restructuring efforts and new management initiatives.

$TNC {{ '2017-04-24T18:15:03+0000' | timeago}} • Webcast

On debt from a leverage standpoint, $TNC stated that the company is comfortable at the leverage above 3 currently. The company added that it will be focused on using its excess cash to pay down debt and will be more focused on keeping its leverage at two or lower going forward.

$TNC {{ '2017-04-24T14:23:57+0000' | timeago}} • Announcement

$TNC lifted 2017 net sales outlook to $960-990MM from $810-830MM. The company now expects 2017 EPS of $1.05-1.25 and adjusted EPS of $2.40-2.60. $TNC lowered its 2017 EPS estimate on an as adjusted and constant currency basis to $2.50-2.70 from $2.60-2.80.

$TNC {{ '2017-04-24T14:17:56+0000' | timeago}} • Announcement

$TNC's gross margin for 1Q17 decreased to 41.7% from 43.1% in the previous year quarter. The 140 basis point decrease primarily reflects temporary service inefficiencies related to organizational changes from the restructuring, a less favorable mix of sales by geography and customer, and raw material cost inflation.

$TNC {{ '2017-04-24T14:16:10+0000' | timeago}} • Announcement

$TNC's net sales for 1Q17 increased 6.2% to $191.1MM from the previous year quarter. Foreign currency exchange effects were essentially flat versus the prior year, and the net impact of the 2016 Florock acquisition and the Green Machines divestiture increased sales by 1.2%. As a result, organic net sales increased about 5.0%.

$TNC {{ '2017-04-24T14:14:40+0000' | timeago}} • Announcement

$TNC slipped to a loss in 1Q17 from a profit last year, on restructuring charge to support key strategic initiatives and lower costs as well as acquisition costs and financing costs related to IPC acquisition. Net loss was $3.96MM or $0.22 per share compared to a profit of $4.44MM or $0.25 per share in 1Q16. Adjusted EPS grew to $0.31 from $0.25.

$TNC {{ '2017-04-13T15:11:15+0000' | timeago}} • Announcement

$TNC priced $300MM in aggregate principal amount of 5.625% senior notes due May 1, 2025. The offering is expected to close on April 18, 2017. Net proceeds will be used to refinance a term loan, as well as to pay related fees and expenses.

$TNC {{ '2017-04-07T14:19:51+0000' | timeago}} • Announcement

$TNC plans to offer $300MM in aggregate principal amount of its senior notes due 2025. $TNC plans to use the net proceeds, together with borrowings under new senior secured credit facilities, to refinance a term loan that was borrowed by $TNC as part of the financing for its acquisition of IP Cleaning and to pay related fees and expenses.

$TNC {{ '2017-04-07T11:08:58+0000' | timeago}} • Announcement

$TNC completed the acquisition of IP Cleaning S.p.A. and its subsidiaries from private equity fund Ambienta for $353MM. $TNC expects the IPC acquisition to be accretive to the 2018 full year EPS.

$TNC {{ '2017-02-24T20:28:35+0000' | timeago}} • Announcement

$TNC agreed with private equity fund Ambienta to buy IPC Group, a privately-held designer and manufacturer of commercial cleaning solutions based in Italy, in an all-cash transaction valued at about $350MM. $TNC expects the acquisition to be accretive to 2018 EPS. $TNC expects the acquisition to be completed in the 2Q17.

$TNC {{ '2017-02-16T15:05:11+0000' | timeago}} • Announcement

$TNC's BoD declared a regular quarterly cash dividend of 21 cents per share. The dividend is payable on March 15, 2017, to shareholders of record at the close of business on March 2, 2017.

$TNC {{ '2017-01-11T11:43:59+0000' | timeago}} • Announcement

$TNC said Heidi Wilson, SVP-General Counsel, will retire on July 14, 2017. Wilson joined $TNC in 2003 as Associate General Counsel and was named VP-General Counsel in 2005. The company will immediately begin the search and selection process with the goal of naming a replacement soon enough to allow for a smooth transition before her final day.

$TNC {{ '2016-09-02T10:45:42+0000' | timeago}} • Announcement

$TNC, a designing, manufacturing and marketing solutions provider that helps create a cleaner, safer world, said that it has acquired the assets of Dofesa Barrido Mecanizado, $TNC's largest and long-time Mexico distributor, based in Aguascalientes in central Mexico. The transaction closed on Sept. 1, 2016.

$TNC {{ '2016-08-18T13:58:13+0000' | timeago}} • Announcement

$TNC said its BoD declared a regular quarterly cash dividend of 20 cents per share. The dividend is payable on Sept. 15, 2016, to shareholders of record at the close of business on Aug. 31, 2016.

$TNC {{ '2016-08-01T18:02:43+0000' | timeago}} • Announcement

$TNC expanded its Floor Coatings business with the July 28, 2016 assets & liabilities purchase related to the commercial floor coatings business from Crawford Laboratories, Inc. and affiliates, owners of the Florock Polymer Flooring brand. $TNC will retain the Florock brand and manage the Tennant and Florock brands and sales channels separately.

$TNC {{ '2016-02-18T10:52:25+0000' | timeago}} • Announcement

Cleaning products and solutions provider $TNC said its BoD has declared a quarterly dividend of $0.20 per share payable March 15, 2016 to shareholders of record on Feb. 29, 2016.

$TNC {{ '2016-02-17T18:48:53+0000' | timeago}} • Announcement

$TNC said it appointed David Windley to its BoD. As President of IQTalent Partners, a talent acquisition professional services firm, Windley oversees the company's strategic direction and day-to-day operations. Windley was formerly the Chief Human Resources Officer at $YHOO and Fusion-io.

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