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Note 2 - NTI ASEAN (Tables)

6 Months Ended

Feb. 28, 2013

Schedule of Purchase Price Allocation [Table Text Block]

Net assets acquired (liabilities assumed):
Cash and cash equivalents		$	1,613,000
Accounts receivables			1,342,000
Investments in joint ventures			4,967,000
Value of assets		$	7,922,000
Purchase price:
Fair value of non-controlling interest		$	3,961,000
Value of previously held interest			3,961,000
Total consideration		$	7,922,000

Business Acquisition, Pro Forma Information [Table Text Block]

						NTI				Eliminated in
		As Reported				Asean				Consolidation				Pro Forma
Net sales		$	4,974,328			$	—			$	—			$	4,974,328
Cost of goods sold			3,480,082				—				—				3,480,082
Gross profit			1,494,246				—				—				1,494,246
Joint venture operations			2,522,801				868,382				(322,654	)			3,068,529
Operating expenses			3,325,228				20,470				—				3,345,698
Operating income			691,819				847,912				(322,654	)			1,217,077
Income before income tax expense			703,991				847,912				(322,654	)			1,229,249
Income tax expense			100,000				95,500				—				195,500
Net income			603,991				752,412				(322,654	)			1,033,749
Net income attributable to non-controlling interest			(2,202	)			(300,965	)			—				(303,167	)
Net income attributable to NTIC			606,193				451,447				(322,654	)			734,804
Net income per common diluted share		$	0.13			$	0.10			$	(0.08	)		$	0.16

						NTI				Eliminated in
		As Reported				Asean				Consolidation				Pro Forma
Net sales		$	9,806,442			$	—			$	—			$	9,806,442
Cost of goods sold			6,689,558				—				—				6,689,558
Gross profit			3,116,884				—				—				3,116,884
Joint venture operations			5,325,733				1,699,280				(692,115	)			6,332,898
Operating expenses			6,718,296				23,135				—				6,741,431
Operating income			1,724,321				1,676,145				(692,115	)			2,708,351
Income before income tax expense			1,745,412				1,676,145				(692,115	)			2,729,442
Income tax expense			206,000				184,811				—				390,811
Net income			1,539,412				1,491,334				(692,115	)			2,338,631
Net income attributable to non-controlling interest			(25,538	)			(596,534	)			—				(622,072	)
Net income attributable to NTIC			1,564,950				894,800				(692,115	)			1,767,635
Net income per common diluted share		$	0.35			$	0.20			$	(0.16	)		$	0.40

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (h)(2)-(3)

-URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1392-128463



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141

-Paragraph 54

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141

-Paragraph 55

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141R

-Paragraph 68

-Subparagraph r(2, 3)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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X

- Definition

Tabular disclosure of all of the fair values of the purchase price and assets and liabilities acquired in a business combination.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 30

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e6927-128479

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