FORM 10-Q
                                          
                         SECURITIES AND EXCHANGE COMMISSION
                                          
                              Washington, D.C.  20549
                                          
                    Quarterly Report Under Section 13 or 15 (d)
                       of the Securities Exchange Act of 1934
                                          
                                          
                                          
                                          
                                          
                                          
                          For Quarter Ended September 30, 1998March 31, 1999
                             Commission File No. 04804
                                          
                                          
                                          
                                          
                                          
                                  TENNANT COMPANY 
                                          
                                          
Incorporated in Minnesota                              IRS Emp Id No. 410572550
                                          
                                          
                               701 North Lilac Drive
                                   P.O. Box 1452 
                           Minneapolis, Minnesota  55440
                             Telephone No. 612-540-1200
                                          
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period  that the registrant
was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.  Yes    X    No          
                                         -----     ---------       ----
                                          
The number of shares outstanding of Registrant's common stock, par value $.375
on September 30, 1998,March 31, 1999, was 9,279,903.9,066,618.


                                                                    Page 2 of 1113
                                          
                                          
                                  TENNANT COMPANY
                            Quarterly Report - Form 10-Q
                                          
                          PART I - FINANCIAL INFORMATION 

ITEM 1 - FINANCIAL STATEMENTS

- - -----------------------------

TENNANT COMPANY AND SUBSIDIARIES - CONSOLIDATED STATEMENTS OF EARNINGS AND
- - --------------------------------------------------------------------------
COMPREHENSIVE EARNINGS (UNAUDITED)
- - ----------------------------------
(Dollars in thousands, except per share amounts) 

Three Months Nine Months Ended September 30 Ended September 30 ----------------------- -------------------------March 31 ------------------------------- 1999 1998 1997 1998 1997 ---- ---- ---- ---- Net sales $ 96,11699,715 $ 90,570 $ 284,057 $ 266,95588,721 Less: Cost of sales 55,464 52,272 164,075 154,73859,151 51,976 Selling and administrative 31,172 29,621 93,151 87,489 ---------- ---------- ---------- ----------32,745 29,362 ----------- ----------- Profit from operations 9,480 8,677 26,831 24,7287,819 7,383 Other income (expense) Net foreign currency gain (loss) 93 (77) (79) (105)loss (98) (128) Interest income 1,036 1,236 3,345 3,470770 1,142 Interest expense (573) (518) (1,878) (1,504)(584) (564) Miscellaneous income (expense), net (214) (103) 165 (585) ---------- ---------- ---------- ----------(305) 339 ----------- ----------- Total other income (expense) 342 538 1,553 1,276 ---------- ---------- ---------- ----------(217) 789 ----------- ----------- Earnings before income taxes 9,822 9,215 28,384 26,0047,602 8,172 Taxes on income 3,514 3,243 10,115 9,208 ---------- ---------- ---------- ----------2,716 2,929 ----------- ----------- Net earnings $ 6,3084,886 $ 5,972 $ 18,269 $ 16,796 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ----------5,243 ----------- ----------- ----------- ----------- Comprehensive earnings adjustment for (1,628) (674) foreign currency translation, net of tax (877) (1,149) (1,210) (1,162) ---------- ---------- ---------- --------------------- ----------- Comprehensive earnings $ 5,4313,258 $ 4,823 $ 17,059 $ 15,634 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ----------4,569 ----------- ----------- ----------- ----------- PER SHARESHARE: Basic net earnings $ .67.53 $ .60 $ 1.91 $ 1.68.54 Diluted net earnings $ .67.53 $ .60 $ 1.91 $ 1.67.54 Dividends $ .19 $ .18 $ .55 $ .54 Weighted average number of shares 9,171,000 9,726,000 (basic) 9,383,871 9,928,700 9,550,808 9,999,300 Weighted average number of shares 9,212,500 9,758,000 (diluted) 9,411,800 10,006,900 9,580,100 10,077,500
Page 3 of 1113 TENNANT COMPANY Quarterly Report - Form 10-Q ITEM 1 - FINANCIAL STATEMENTS (continued) - - ----------------------------- TENNANT COMPANY AND SUBSIDIARIES - CONSOLIDATED STATEMENTS - - ---------------------------------------------------------- (Dollars in thousands) BALANCE SHEET
(Condensed from Audited (Unaudited) Financial Statements) ASSETS September 30, 1998March 31, 1999 December 31, 1997 ------------------ -----------------------1998 -------------- ----------------- Cash and cash equivalents $17,901 $16,279$ 8,117 $ 17,693 Receivables 78,724 83,09985,332 81,145 Less deferred income from sales finance charges (1,320) (1,636)(690) (954) Less allowance for doubtful accounts (3,358) (3,302) --------- --------(4,107) (2,956) ----------- ------------ Net receivables 74,046 78,16180,535 77,235 Inventories 45,707 40,32347,108 46,162 Prepaid expenses 755 9851,470 878 Deferred income taxes, current portion 7,357 7,357 --------- --------8,911 8,900 ----------- ------------ Total current assets 145,766 143,105146,141 150,868 Property, plant, and equipment 163,779 156,602173,906 169,515 Less allowance for depreciation (99,980) (91,491) --------- --------(105,509) (102,875) ----------- ------------ Net property, plant, and equipment 63,799 65,11168,397 66,640 Net noncurrent installment accounts receivable 3,249 6,3372,185 2,843 Deferred income taxes, long-term portion 2,269 2,2572,703 2,657 Intangible assets, net 15,766 16,52519,580 15,631 Other assets 477 535 --------- --------410 459 ----------- ------------- Total assets $231,326 $233,870 --------- -------- --------- --------$ 239,416 $ 239,098 ----------- ------------- ----------- -------------
LIABILITIES & SHAREHOLDERS' EQUITY
(Condensed from Audited (Unaudited) Financial Statements) LIABILITIES September 30, 1998March 31, 1999 December 31, 1997 ------------------ ------------------------1998 -------------- ----------------- Current debt $5,354 $2,377$ 5,009 $ 7,302 Accounts payable 15,125 19,07822,369 19,042 Accrued expenses 31,764 35,694 --------- --------25,779 30,647 ---------- ---------- Total current liabilities 52,243 57,14953,157 56,991 Long-term debt 26,524 20,678 Employee27,085 23,038 Long-term employee retirement-related benefits 24,502 21,767 Other long-term liabilities -- 190 --------- --------28,677 27,802 ---------- ---------- Total liabilities 103,269 99,784108,919 107,831 SHAREHOLDERS' EQUITY Common stock 3,466 3,6373,406 3,421 Common stock subscribed 130 444153 425 Unearned restricted shares (509) (789)(767) (307) Retained earnings 134,971 141,656137,632 136,730 Receivable from ESOP (10,648) (11,425)(9,886) (10,589) Accumulated other comprehensive income (equity adjustmentAdjustment from foreign currency translation) 647 563 --------- --------(41) 1,587 ---------- ---------- Total shareholders' equity 128,057 134,086130,497 131,267 Total liabilities and shareholders' equity $231,326 $233,870 --------- -------- --------- --------$ 239,416 $ 239,098 ---------- ---------- ---------- ----------
Page 4 of 1113 TENNANT COMPANY Quarterly Report - Form 10-Q ITEM 1 - FINANCIAL STATEMENTS (continued) - - ----------------------------- TENNANT COMPANY AND SUBSIDIARIES - CONSOLIDATED STATEMENTS (UNAUDITED) - - ---------------------------------------------------------------------- (Dollars in thousands)
CONDENSED STATEMENTS OF CASH FLOWS NineThree Months Ended September 30 ------------------------------March 31 ---------------------------------- 1999 1998 1997 ---- ------------------- --------------- Net cash flow related toprovided by operating activities $28,682 $30,384$ 7,451 $ 6,734 Cash flow related toused in investing activities: Acquisition of property, plant, and equipment (14,597) (14,417)(4,724) (4,577) Acquisition of Paul Andra KG, less cash acquired (note 7) (6,943) -- Proceeds from disposals of property, plant, and equipment 4,178 3,269 Settlement of foreign currency hedging contracts -- 935 ------- -------371 1,195 ----------- ----------- Net cash flow related toused in investing activities (10,419) (10,213)(11,296) (3,382) Cash flow related to financing activities: Net changes in current debt 4,541 (2,136)(2,112) 599 Issuance of long-term debt 4,163 131,439 6,061 Payments to settle long-term debt (27) (16)(25) 5,777 Principal payment from ESOP 600 545660 -- Proceeds from employee stock issues 1,521 1,374456 497 Repurchase of common stock (22,259) (7,635)(4,177) (3,876) Dividends paid (5,201) (5,367) ------- -------(1,725) (1,739) ------------- ------------ Net cash flow related toprovided by (used in) financing activities (16,662) (13,222)(5,484) 7,319 Effect of exchange rate changes on cash 21 368 ------- -------(247) 12 -------------- -------------- Net increase (decrease) in cash and cash equivalents 1,622 7,317(9,576) 10,683 Cash and cash equivalents at beginning of year 17,693 16,279 9,881 ------- --------------------- -------------- Cash and cash equivalents at end of thirdfirst quarter $17,901 $17,198 ------- ------- ------- -------$ 8,117 $ 26,962 -------------- -------------- -------------- --------------
Page 5 of 1113 TENNANT COMPANY Quarterly Report - Form 10-Q ITEM 1 - FINANCIAL STATEMENTS (continued) - - ----------------------------- NOTES TO CONSOLIDATED FINANCIAL STATEMENTS In the opinion of management, the accompanying financial statements include all adjustments, consisting of normal recurring accruals, necessary for a fair presentation of the interim periods presented. The results of operations for interim periods are not necessarily indicative of results which will be realized for the full fiscal year. (1) Information Incorporated by Reference from 10-K The Company's Summary of Significant Accounting Policies and other Related Data and Summary of Stock Plans, Bonuses, and Profit Sharing are included in the Company's 19971998 Annual Report filed as Exhibit 13.1 to the Company's annual filing on Form 10-K and are incorporated in this Form 10-Q by reference. (2) Expenses Engineering, research and development, maintenance and repairs, warranty, and bad debt expenses were charged to operations for the three and nine months ended September 30,March 31, 1999 and 1998, and 1997, as follows:
Three Months Nine Months Ended September 30 Ended September 30 ------------------ ------------------ 1998 1997 1998 1997 ---- ---- ---- ----March 31 ---------------------------------- (In Thousands) 1999 1998 ----------- ----------- Engineering, research and development $4,091 $3,489 $12,555 $10,185$3,716 $4,451 ------ ------ ------- ------- ------ ------ ------- ------- Maintenance and repairs $1,155 $1,258 $ 4,174 $ 4,144$1,371 $1,560 ------ ------ ------- ------- ------ ------ ------- ------- Warranty $1,612 $1,150 $ 3,936 $ 3,280$1,386 $1,108 ------ ------ ------- ------- ------ ------ ------- ------- Bad debts $ 364336 $ 338 $ 862 $ 676189 ------ ------ ------- ------- ------ ------ ------- -------
The Company also makes accrual adjustments on a regular monthly basis for bonus and profit sharing expenses which are settled at year-end. This allows for a fair statement of the results for the interim periods presented. (3) Inventories Inventories are valued at the lower of cost (principally on a last-in, first-out basis) or market. The composition of inventories at September 30, 1998,March 31, 1999, and December 31, 1997,1998, is as follows:
September 30March 31 December 31 1999 1998 1997 ------------ ------------------------- --------------- (In Thousands) FIFO Inventories: Finished Goods $32,883 $27,028goods $ 34,567 $ 32,895 All Other 32,433 31,833other 31,338 32,162 LIFO Adjustment (19,609) (18,538) ------- -------(18,797) (18,895) --------- ---------- LIFO Inventories $45,707 $40,323 ------- ------- ------- -------$ 47,108 $ 46,162 --------- ---------- --------- ----------
Page 6 of 1113 TENNANT COMPANY Quarterly Report - Form 10-Q ITEM 1 - FINANCIAL STATEMENTS (continued) - - ----------------------------- NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (4) Cash Flow Income taxes paid during the ninethree months ended September 30,March 31, 1999 and 1998, were $1,254,000 and 1997, were $14,405,000 and $10,454,600,$3,063,000, respectively. Interest costs paid during the ninethree months ended September 30,March 31, 1999 and 1998, were $615,000 and 1997, were $1,866,094 and $1,226,318,$555,000 respectively. (5) Earning Per Share (In thousands, except per share amounts)
For the Quarter Ended September 30, 1998 ------------------------------------------March 31, 1999 --------------------------------------------------- Income Shares Per Share (Numerator) Denominator(Denominator) Amount --------- ----------- -------------------- --------------- ------------ Basic EPS Income available to common stockholders $6,308 9,383shareholders $4,886 9,171 $ .67.53 Effect of dilutive securities Fixed stock options 2941 Diluted EPS Income available to common stockholdersshareholders + assumed conversions $6,308 9,412$4,886 9,212 $ .67.53
For the Quarter Ended September 30, 1997 ------------------------------------------March 31, 1998 --------------------------------------------------- Income Shares Per Share (Numerator) Denominator(Denominator) Amount --------- ----------- -------------------- --------------- ------------ Basic EPS Income available to common stockholders $5,972 9,929 $.60shareholders $5,243 9,726 $ .54 Effect of dilutive securities Fixed stock options 35 Performance-related shares 4332 Diluted EPS Income available to common stockholdersshareholders + assumed conversions $5,972 10,007 $.60$5,243 9,758 $ .54
Page 7 of 1113 TENNANT COMPANY Quarterly Report - Form 10-Q ITEM 1 - FINANCIAL STATEMENTS (continued) - - ----------------------------- NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (6) Comprehensive Earnings BeginningSegment Reporting The Company operates in one industry segment which consists of the First Quarterdesign, manufacture, and sale of products and services used in the maintenance of nonresidential floors. Financial data by geographic area is before interest expense and elimination of intercompany transactions. North America sales include sales in the United States, Canada, and Mexico. Sales in Canada and Mexico comprise less than 10% of consolidated sales and are interrelated with the Company's U.S. operations. Product transfers from North America are generally made at prices that recognize return on investment objectives for both the manufacturing and selling units. Corporate items include general corporate expense and miscellaneous items such as net ESOP income and Foundation contribution expense.
(In Thousands) First quarter 1999 First quarter 1998 ------------------ ------------------ Net sales North America Customer sales $ 72,403 $ 67,680 Transfers to Europe and other international areas 11,561 9,258 -------- -------- Total North America 83,964 76,938 Europe customer sales 18,754 14,258 Other international customer sales 8,558 6,783 Eliminations (11,561) (9,258) -------- -------- Total $ 99,715 $ 88,721 -------- -------- -------- -------- Earnings before income taxes North America $ 6,914 $ 6,713 Europe 926 1,292 Other international 620 799 Corporate items, interest income, interest expense, and eliminations (858) (632) -------- -------- Total earnings before income taxes $ 7,602 $ 8,172 -------- -------- -------- --------
Page 8 of 13 TENNANT COMPANY Quarterly Report - Form 10-Q ITEM 1 - FINANCIAL STATEMENTS (continued) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (7) Acquisition of Paul Andra KG On January 4, 1999, the Company adopted SFAS No. 130,acquired the shares and holdings in associated businesses of Paul Andra KG, a privately owned manufacturer of commercial floor maintenance equipment in Germany. Paul Andra KG sells products principally under the Sorma brand name, including single disk machines, wet/dry vacuum cleaners and vacuumized scrubbers. Sales in first quarter of $4 million generated a small operating loss that was in line with expectations. These acquisitions are not expected to have a material impact on operations. Acquisition of Paul Andra KG: Assets acquired $ 12,763 Liabilities assumed ( 10,371) Goodwill 4,551 ----------- Total Cash Paid, less cash acquired $ 6,943 ----------- -----------
(8) Change in Reporting Comprehensive Earnings, which establishes standards for reporting and displaying the components of comprehensive income.Service Labor The Company has retroactively reflected comprehensive incomereports revenue from providing repair service in its sales and cost of sales figures. Through 1998, in its European operations, the related costs were included in selling and administrative expense. March 1998 figures were restated to meet these requirements. (7)reflect a $531K reclassification from selling and administrative expense to cost of sales to reflect the related allocable portion of service labor costs for that quarter. This makes European reporting consistent with Company reporting. (9) New Accounting Pronouncements In June 1998, the Financial Accounting Standards Board issued Statement No. 133, "Accounting for Derivative Instruments and Hedging Activities" (SFAS No. 133), which is required to be adopted for fiscal years beginning after June 15, 1999, although earlier application is permitted as of the beginning of any fiscal quarter. This statement will require the companyCompany to recognize all derivatives on the balance sheet at fair value. Derivatives that are not hedges must be adjusted to fair value through income. If the derivative is a hedge, depending on the nature of the hedge, changes in the fair value of the hedged assets, liabilities, or firm commitments through earnings or recognized in other comprehensive income until the hedged item is recognized in earnings. The ineffective portion of a derivative's change in fair value will be immediately recognized in earnings. The companyCompany is in the process of determining if earlier application would be feasible and what effect the adoption of SFAS No. 133 will have on the company'sCompany's results of operations, cash flows or financial position. New European Currency: Page 9 of 13 TENNANT COMPANY Quarterly Report - Form 10-Q ITEM 1 - FINANCIAL STATEMENTS (continued) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (9) (cont.) Also in 1998, the American Institute of Certified Public Accountants (AICPA) issued Statement of Position (SOP) 98-1, Accounting for the Costs of Computer Software Developed or Obtained for Internal Use, which was adopted by the Company in 1999. SOP 98-1 requires that certain costs related to the development or purchase of internal use software be capitalized and amortized over the estimated useful life of the software. The estimated costs to be capitalized in 1999 are approximately $1.3 million. $.7 million of this benefited first quarter with the remaining $.6 million to be realized over the remainder of 1999. On January 1, 1999, eleven of the fifteen member countries of the European Union are scheduled to establishestablished fixed conversion rates between their existing currencies and the euro, a new European currency, and to adoptadopted the euro as their common legal currency (the "Euro Conversion"). Either the euro or a participating country's present currency will be accepted as legal tender from January 1, 1999, to January 1, 2002, from which date forward only the euro will be accepted. The Company has a significant number of customers located in European Union countries participating in the Euro Conversion. Such customers will likely have to upgrade or modify their computer systems and software to comply with euro requirements. The amount of money the Company anticipates spending in connection with product development related to the Euro Conversion is not expected to have a material adverse effect on the Company's results of operations or financial condition. The Euro Conversion may also have competitive implications for the Company's pricing and marketing strategies, which could be material in nature; however, any such impact is not known at this time. The Company has begun to analyze which of its internal systems will need to be modified to deal with the Euro Conversion. The Company does not currently expect the cost of such modifications to have a material effect on the Company's results of operations or financial condition. There is no assurance, however, that all problems related to the Euro Conversion will be foreseen and corrected, or that no material disruptions of the Company's business will occur. Page 8 of 11 TENNANT COMPANY Quarterly Report - Form 10-Q PART II - OTHER INFORMATION ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND - - ------------------------------------------------------------------------ RESULTS OF OPERATIONS - - --------------------- Management's discussion and analysis of financial condition and results of operations is included in Exhibit 13.1, attached, text portion of Report to Shareholders for the NineThree Months Ended September 30, 1998,March 31, 1999, and is incorporated in this Form 10-Q by reference. ITEM 3 - MARKET RISK Market risk has not changed from the market risk that existed at December 31, 1998. Page 10 of 13 TENNANT COMPANY Quarterly Report - Form 10-Q PART II - OTHER INFORMATION ITEM 5 - Y2K PROJECT OVERVIEW - - ----------------------------- Tennant's company-wide Year 2000 Project (Project) is proceeding on schedule. Tennant's Project is divided into four major sections: Applications Systems, Systems Infrastructure, External Agents (suppliers/partners/distributors/customers) and Embedded Systems (manufacturing and facilities). General Project phases common to all sections are: 1) inventorying Year 2000 items; 2) assigning priorities to identified items; 3) assessing the Year 2000 compliance of items determined to be material to the company;Company; 4) repairing or replacing material items that are determined not to be Year 2000 compliant; 5) testing material items; and 6) designing and implementing contingency and business continuation plans. Material items are those believed by the companyCompany to have risk involving the safety of individuals that may cause damage to either property or the environment, or affect revenues. Progress status is as follows:
% Complete Estimated as of 9/30/983/31/99 Completion ------------- -------------------------- Applications Systems 80%90% 2nd Quarter 1999 Systems Infrastructure 70%80% 2nd Quarter 1999 External Agents 50%90% 2nd Quarter 1999 Embedded Systems 60%100% 1st Quarter 1999
A more detailed description of activities is as follows: Applications Systems - In 1994, in order to improve access to business information through common integrated computing systems across the company,Company, Tennant began a worldwide business systems replacement project with systems that use programs from SAP America, Inc. (SAP). The new systems are expected to make approximately 80% of the companyCompany's business systems Year 2000 compliant. European applications systems are completely installed, and the North American Industrial systems are 60%90% implemented. The remaining non-SAP business software is in the process of being upgraded to Year 2000 compliance.compliance and is now 90% complete. The North American Commercial systems remediation was completed in September of 1998. Contingency planning for Application Systems will commenceis in the fourth quarter of 1998process and will be completed by mid-year 1999. Our activity also includes assessment and remediation of nonmissionnon-mission critical personal systems. Initial survey and assessment work is expected to be completed by first quarter 1999,complete with repair and remediation activities being continuous with estimated completion second quarter, 1999. Page 9 of 11 TENNANT COMPANY Quarterly Report - Form 10-Q PART II - OTHER INFORMATION, cont. ITEM 5 - Y2K PROJECT OVERVIEW (cont.) - - ----------------------------- Systems Infrastructure - The Infrastructure section consists of hardware and system software other than Applications Software. Activity in this area is continuous with the majority being addressed and tested in conjunction with project and regular replacement programs. Contingency planning for this section will commenceevaluation is in process and should be complete by the fourthsecond quarter of 1998.1999. Page 11 of 13 TENNANT COMPANY Quarterly Report - Form 10-Q PART II - OTHER INFORMATION, cont. ITEM 5 - Y2K PROJECT OVERVIEW (cont.) External Agents (Suppliers/Partners/Distributors/Customers) - The primary activity in this section involves the process of identifying and prioritizing critical suppliers, customers, distributors, and other partners at the direct interface level and communicating with them about their plans and progress in addressing the Year 2000 problem. The initial survey activity has been completed and detailed evaluations of the most critical third parties have been initiated. These evaluations will be followed by selective follow-up contact, and development of contingency plans will commence in the fourth quarter of 1998, with expected completion by the end of the first quarter 1999.contact. Embedded Systems (Manufacturing and Facilities) - This areasection focuses on the hardware and software associated with embedded computer chips that are used in the operation of all facilities operated by the company.Company. Survey and prioritization activities are scheduled for completion in the fourth quarter 1998.complete. In addition, our activities have included the evaluation of Year 2000 dependencies in embedded chips produced in our own products all of which have been certified to be compliant. COSTS - - ----- The total cost associated with the required modifications to become Year 2000 compliant is not expected to be material to the company'sCompany's financial position. The core of the company'sCompany's IT investments have been focused on building new capability while satisfying Year 2000 requirements. The estimated total cost of the planned SAP activities through 1999 is approximately $20 million of which $16$17 million has been expended. Funding for Year 2000 specific activities are estimated at $950,000 of which $400,000$600,000 has been expended. Funding for both SAP and Y2K activities is integrated with operational budgets, with IT funding for fiscal year 1999 estimated to be at the same levels as fiscal year 1998. In January 1999 Tennant Company completed the purchase of Paul Andra KG. Activities for Year 2000 certification have been completed using the same process as outlined for Tennant Company. An action plan has been completed and integrated into the corporate plan. The majority of Y2K issues will be addressed by conversion of systems to SAP. All other activities have been incorporated into the existing plan. Funding for the SAP integration is approximately $650,000. Funding for the Y2K specific activities are estimated to be less than $50,000. CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS - - ---------------------------------------------------------- The statements in this report are forward-looking statements and are not meant as historical facts. As discussed above, many factors are involved in this project which contain risk and uncertainty and are beyond the control of the Company. Included in this are the actions of suppliers, distributors, customers, and other partners. Page 1012 of 1113 TENNANT COMPANY Quarterly Report - Form 10-Q PART II - OTHER INFORMATION ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K - - ----------------------------------------- (a) Exhibits
Item # Description Method of Filing ------ ----------- --------------------------------- 3i Articles of Incorporation Incorporated by reference to Exhibit 4.1 to the Company's Registration Statement No. 33-62003, Form S-8, dated August 22, 1995. 3ii By-Laws Incorporated by reference to Exhibit 4.2 to the Company's Registration Statement No. 33-59054, Form S-8, dated March 2, 1993. 13.1 Text Portion of Report to Shareholders for Filed herewith electronically. Shareholdersthe Three Months Ended March 31, 1999 27.1 Financial Data Schedule Filed herewith electronically. (b) Reports on Form 8-K There were no reports filed on Form 8-K for the Nine Months Ended September 30, 1998 27.1 Financial Data Schedule Filed herewith electronically.quarter ended March 31, 1999.
(b) Reports on Form 8-K There were no reports filed on Form 8-K for the quarter ended September 30, 1998. Page 1113 of 1113 TENNANT COMPANY Quarterly Report - Form 10-Q SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. TENNANT COMPANY Date: --------------------------May 12, 1999 /s/ Janet Dolan ------------------------------- -------------------------------------- NovemberMay 12, 19981999 Janet Dolan President and Chief Executive Officer Date: May 12, 1999 /s/ John T. Pain ------------------------------- -------------------------------------- May 12, 1999 John T. Pain Vice President, Treasurer and PrincipalChief Financial Officer Date: --------------------------May 12, 1999 /s/ Dean A. Niehus ------------------------------- -------------------------------------- NovemberMay 12, 19981999 Dean A. Niehus Corporate Controller and Principal Accounting Officer