Nonprofit, independent journalism. Supported by readers.


Tuesday P.M. Report

Capella CEO takes over chairman post, Tennant Co. swings to profit in Q4, Land O’Lakes ’09 earnings up 31 percent, Improved sales boost Medtronic profits

Capella CEO takes over chairman post: Capella Education Co. CEO Kevin Gilligan will also serve as chairman of the Minneapolis-based education company’s board. Gilligan, who became CEO in March 2009, takes over the chairman post from Capella founder Stephen Shank, who remains on the company’s board. Read full story 

Tennant Co. swings to profit in Q4: Tennant Co. swung to a profit in the fourth quarter as the maker of floor- and street-cleaning equipment benefited from improved sales and better management of its operations. Golden Valley-based Tennant (NYSE: TNC) earned $6.7 million, or 35 cents per share, for the quarter ended Dec. 31, versus a loss of $16.9 million, or 93 cents per share, for the same quarter last year. Read full story 

Land O’Lakes ’09 earnings up 31 percent: Land O’ Lakes Inc.’s 2009 earnings were up 31 percent from the year before, with the Arden-Hills based dairy cooperative crediting the strong results to aggressive and targeted marketing and the launching of a wide range of new branded products. Profits for the maker of butter and other dairy products were $209 million, while cash returned to members was $108 million. Read full story 

Improved sales boost Medtronic profits: Medtronic Inc. on Tuesday reported improved third-quarter profits, with the medical device maker enjoying improved sales across its product lines. Fridley-based Medtronic (NYSE: MDT) earned $831 million, or 75 cents per share, in the quarter ended Jan. 29, versus $609 million, or 62 cents per share, for the previous third quarter. Read full story