Tennant Company Posts Q1 EPS In Line, Beats on Revenue, Forecasts 2014 In Line with Street

Tennant (TNC) reported Q1 earnings that matched analysts’ expectations while revenue topped Street forecasts; the company also provided fiscal 2014 guidance in line with analysts’ estimates.

The provider of maintenance and outdoor cleaning equipment, chemical-free cleaning technologies, coatings and related products reported Q1 net earnings of $5.8 million, or $0.31 per diluted share, matching with the Capital IQ consensus estimate. In the prior-year period, earnings were $5.1 million, or $0.27 per diluted share, which included one-time special items; excluding those items, earnings would have been $5.5 million, or $0.29 per diluted share in the year-earlier period.

Net sales rose to $184 million, from $168.1 million in the same quarter last year. Analysts were expecting revenue of $173.6 million.

The company expects fiscal 2014 EPS of $2.50 to $2.80 on revenue of $780 million to $800 million. The Street view was for EPS of $2.62 on revenue of $790.8 million.

Shares were off 0.9% at $65.35 recently, in a 52-week range of $45.02 to $69.18.

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