Tennant Co. Q4 Profit Down

(RTTNews) - Tennant Company (TNC) Tuesday reported fourth-quarter profit of $10.3 million or $0.55 per share, down from $13.8 million or $0.73 per share in the same period last year.

Adjusted earnings for the quarter were $12.2 million or $0.65 per share. On average, four analysts polled by Thomson Reuters expected the company to earn $0.71 per share for the quarter. Analysts' estimates typically exclude special items.

Sales increased to $195.1 million from $187.5 million last year. Analysts expected sales of $198.10 million.

Looking ahead to the fiscal 2014, the company has forecast earnings in the range of $2.50 to $2.80 per share, with sales ranging between $780 million and $800 million. Analysts currently expect the company to report full-year earnings of $2.83 per share on revenues of $792.77 million.