|
Tennant’s 2Q
Profits Double
Double-digit sales gains led by its ec-
H2O technology platform helped the
Tennant Co., a manufacturer of industrial
and commercial cleaning equipment,
to a 50 percent increase in profits
in the second quarter.
The company announced a profit of
$6.2 million, or 32 cents a share, on
sales of $166.1 million, compared to
earnings of $3 million, or 16 cents a
share, on sales of $148.6 million, in last
year’s second quarter.
“Tennant had a good first half of
2010. We are pleased that we saw a
continuation of the first quarter’s favorable
trends in the second quarter,”
said Chris Killingstad, Tennant’s president
and CEO. “Our business maintained
its strong growth in the
Americas and Asia. As in the 2010 first
quarter, double-digit sales gains were
led by demand for our proprietary ecH2O technology platform and sales to
strategic accounts.”
Tennant generated $24.4 million in
cash from operations in the 2010 first
half, of which $10.3 million was generated
in the second quarter. Total cash and
cash equivalents at June 30, 2010, was
$34.5 million, compared with $16.1 million
a year ago. The company’s total debt
was $32.4 million versus $56.2 million
at the end of the 2009 first half.
Tennant’s consolidated net sales of
$166.1 million for the 2010 second
quarter increased 11.8 percent compared
to the 2009 second quarter,
chiefly driven by sales of scrubbers
equipped with ec-H2O.
For the six months, ended June 30,
2010, net earnings were $10.3 million
on net sales of $316.2 million. In the
prior year first half, Tennant reported a
net loss of $38.7 million on net sales of $277.2 million.
Tennant’s ec-H2O technology is an
environmentally friendly process that
converts plain tap water into a powerful
cleaning agent without any added
chemicals. Tennant first launched
scrubbers with ec-H2O technology in
the second quarter of 2008 and
achieved $17 million in sales that year.
That amount tripled to $50 million in
2009, and Tennant continues to expect
robust growth from ec-H2O-equipped
products in 2010.
“Growing interest in this cleaning
technology led to higher sales of scrubbers,
especially the recently introduced
large rider scrubbers equipped with ec-
H2O, and robust growth in recently converted
strategic accounts during the
second quarter,” said Killingstad.
The company has assets of $375
million, and liabilities of $185 million.
IFMA Foundation
Names Board Members
The IFMA Foundation has announced
its 2010-2011 executive committee
and board of trustees, which
began their terms earlier this month.
Stephen Ballesty, CFM, Sydney, Australia,
has been named the new foundation chair, succeeding Pat Turnbull, LEED AP.
Ballesty is the past chair of the Facility
Management Association of Australia,
former deputy chair of the
Australian Government’s FM Action
Agenda initiative and the first person outside of North America to serve as
the foundation’s chair.
Members of the IFMA Foundation
board of trustees serve a two-year term
and are tasked with managing the foundation
and guiding its efforts to serve the
facility management profession though
education, research and scholarships.
“I’m delighted to welcome the new
IFMA Foundation trustees. We already
have a strong platform in place thanks
to our broad supporter base and the
work of Pat Turnbull and others in recent
years,” said Ballesty. “It’s a particularly
exciting time for us as we
work to take the foundation to the next
level and seek recognition of facility
management as the foremost contributor
to a more productive and sustainable
built environment worldwide.”
Also serving on the IFMA Foundation
executive committee are First Vice
Chair Roger Peterson of ARAMARK
Facilities Services; Secretary/Treasurer
Sandra Oliver, CFM, of the International
Monetary Fund; and IFMA President
and CEO Tony Keane, CAE.
Other members of the IFMA Foundation
board of trustees include IFMA
Second Vice Chair Marc Liciardello,
CFM, MBA, CM, of ARAMARK; Peter
Ankerstjerne of ISS Facility Services;
Diane Coles of SCAN Health
Plan; James Corby, CFM, CFMJ, of
Steelcase Workplace Services; Kathryn
Lopez, CFM, of CB Richard Ellis; Kris
Mayo, freelance marketing and event
coordinator; Michael Schley, IFMA
Fellow, of FM Systems; Dean Stanberry,
retired facility professional; Eric
Teicholz, IFMA Fellow, of Graphic
Systems; and Cheryl Waybright, CFM,
IFMA Fellow, of Mace Macro.
“With our first non-North American
chair, this year’s board will have an enhanced
global perspective that we feel
will result in increased international outreach
and initiatives,” said IFMA Foundation
Executive Director William Rub.
“It’s also exciting to have so many new
professionals join our board this year.
Along with their experience comes
new energy and ideas that will positively
benefit the foundation over the
next year and beyond.”
Ecolab
2Q Income
Rises 30 Percent
Led by strong growth in Asia Pacific
and Latin America, Ecolab Inc. reported
strong second quarter earnings
as sales increased, and cost savings actions
and lower delivered product costs
benefited the bottom line.
Ecolab’s reported net sales rose 5
percent to $1.5 billion in the second
quarter of 2010; measured in fixed currencies,
sales rose 3 percent. Net income
attributable to shareholders
increased 30 percent to $129 million,
with reported diluted earnings per
share up 32 percent to $0.54.
Second quarter 2010 sales for Ecolab’s
U.S. Cleaning & Sanitizing operations
rose 3 percent to $689 million.
Ecolab’s U.S. Cleaning & Sanitizing
operating income increased 10 percent
to $139 million.
U.S. Other Services sales were flat
when compared with last year at $115
million. Operating income grew 2 percent
to $19 million.
“We continue to make good
progress,” said Douglas M. Baker, Jr.,
Ecolab’s chairman, president and
CEO. “Our top line performance was
driven by aggressive new account efforts
and a strong pipeline of innovative
new products. These, combined
with our continued actions to reduce
costs and to improve our efficiency,
delivered the strong earnings performance.
“We look for continued sales gains
and double-digit earnings growth for
the full year 2010. Our markets, as expected,
have stabilized and are slowly
recovering, though the pace continues
to vary considerably by region.”
The company has assets of $4.6 billion,
and liabilities of $2.8 billion.
|
