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Consolidated Statements of Operations (Unaudited) (USD $)
3 Months Ended 9 Months Ended
May 31, 2014
May 31, 2013
May 31, 2014
May 31, 2013
NET SALES:        
Net sales, excluding joint ventures $ 6,056,078 $ 5,041,096 $ 17,188,462 $ 14,296,686
Net sales, to joint ventures 864,742 835,937 2,260,466 2,118,444
Total net sales 6,920,820 5,877,033 19,448,928 16,415,130
Cost of goods sold 4,669,322 4,054,364 12,879,186 11,379,249
Gross profit 2,251,498 1,822,669 6,569,742 5,035,881
JOINT VENTURE OPERATIONS:        
Equity in income of joint ventures 1,593,465 1,440,335 4,416,664 3,733,069
Fees for services provided to joint ventures 2,001,775 1,917,947 6,169,094 5,535,105
Total joint venture operations 3,595,240 3,358,282 10,585,758 9,268,174
OPERATING EXPENSES:        
Selling expenses 1,315,264 1,243,687 3,925,466 3,588,847
General and administrative expenses 1,307,653 1,105,710 3,905,082 3,498,393
Expenses incurred in support of joint ventures 353,958 335,132 1,049,691 1,026,275
Research and development expenses 1,104,632 1,002,651 3,342,497 2,853,250
Total operating expenses 4,081,507 3,687,180 12,222,736 10,966,765
OPERATING INCOME 1,765,231 1,493,771 4,932,764 3,337,290
INTEREST INCOME 1,369 2,984 5,728 50,618
INTEREST EXPENSE (7,063) (50,986) (32,709) (64,448)
INCOME BEFORE INCOME TAX EXPENSE 1,759,537 1,445,769 4,905,783 3,323,460
INCOME TAX EXPENSE 361,280 158,000 819,039 532,000
NET INCOME 1,398,257 1,287,769 4,086,744 2,791,460
NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTEREST 418,040 360,657 1,222,897 1,040,316
NET INCOME ATTRIBUTABLE TO NTIC $ 980,217 $ 927,112 $ 2,863,847 $ 1,751,144
NET INCOME ATTRIBUTABLE TO NTIC PER COMMON SHARE:        
Basic (in Dollars per share) $ 0.22 $ 0.21 $ 0.64 $ 0.40
Diluted (in Dollars per share) $ 0.21 $ 0.21 $ 0.63 $ 0.39
WEIGHTED AVERAGE COMMON SHARES ASSUMED OUTSTANDING:        
Basic (in Shares) 4,461,880 4,421,379 4,452,798 4,415,452
Diluted (in Shares) 4,590,344 4,468,861 4,583,174 4,464,774