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Note 10 - Net Income Per Common Share | 12 Months Ended
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Aug. 31, 2014
Earnings Per Share [Abstract] |
Earnings Per Share [Text Block] | 10. NET INCOME PER COMMON SHARE Basic net income per common share is computed by dividing net income by the weighted average number of common shares outstanding. Diluted net income per share assumes the exercise of stock options using the treasury stock method, if dilutive. Options to purchase shares of common stock of 0 and 22,000 were excluded from the computation of common share equivalents for fiscal 2014 and fiscal 2013, respectively, as the exercise prices of such options were greater than market price of a share of common stock. The following is a reconciliation of the earnings per share computation for fiscal 2014 and fiscal 2013:
Numerator: |  | August 31, 2014 |  |  | August 31, 2013 |
Net income attributable to NTIC |  | $ | 4,106,372 |  |  | $ | 3,366,894 |
Denominator: |  |  |  |  |  |  |  |
Basic – weighted shares outstanding |  |  | 4,454,836 |  |  |  | 4,421,636 |
Weighted shares assumed upon exercise of stock options |  |  | 124,662 |  |  |  | 54,259 |
Diluted – weighted shares outstanding |  |  | 4,579,498 |  |  |  | 4,475,895 |
Basic earnings per share: |  | $ | 0.92 |  |  | $ | 0.76 |
Diluted earnings per share: |  | $ | 0.90 |  |  | $ | 0.75 |
The dilutive impact summarized above relates to the periods when the average market price of Company stock exceeded the exercise price of the potentially dilutive option securities granted. Earnings per common share were based on the weighted average number of common shares outstanding during the periods when computing the basic earnings per share. When dilutive, stock options are included as equivalents using the treasury stock market method when computing the diluted earnings per share. All options outstanding as of August 31, 2014 are dilutive.

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