XML 17 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
May 31, 2016
May 31, 2015
May 31, 2016
May 31, 2015
NET SALES:        
Net sales, excluding joint ventures $ 7,925,357 $ 7,553,957 $ 21,454,381 $ 20,030,491
Net sales, to joint ventures 761,218 723,618 1,961,565 2,189,888
Total net sales 8,686,575 8,277,575 23,415,946 22,220,379
Cost of goods sold 5,777,249 5,595,207 15,920,896 [1] 15,059,558 [1]
Gross profit 2,909,326 2,682,368 7,495,050 7,160,821
JOINT VENTURE OPERATIONS:        
Equity in income of joint ventures 1,664,464 1,724,915 3,600,884 4,806,247
Fees for services provided to joint ventures 1,351,913 1,303,964 3,808,384 4,432,494
Total joint venture operations 3,016,377 3,028,879 7,409,268 9,238,741
OPERATING EXPENSES:        
Selling expenses 1,507,200 1,434,627 4,507,716 4,168,955
General and administrative expenses 1,691,077 1,703,083 5,057,777 4,794,206
Expenses incurred in support of joint ventures 266,791 327,586 881,255 1,510,830
Research and development expenses 1,231,950 1,064,710 3,349,572 2,968,879
Total operating expenses 4,697,018 4,530,006 13,796,320 13,442,870
OPERATING INCOME 1,228,685 1,181,241 1,107,998 2,956,692
INTEREST INCOME 29,868 7,943 58,425 25,504
INTEREST EXPENSE (15,465) (6,004) (30,987) (14,232)
OTHER INCOME 6,294 7,255 2,145
INCOME BEFORE INCOME TAX EXPENSE 1,249,382 1,183,180 1,142,691 2,970,109
INCOME TAX EXPENSE 225,395 114,180 262,359 495,478
NET INCOME 1,023,987 1,069,000 880,332 2,474,631
NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS 106,614 163,565 305,099 689,575
NET INCOME ATTRIBUTABLE TO NTIC $ 917,373 $ 905,435 $ 575,233 $ 1,785,056
NET INCOME ATTRIBUTABLE TO NTIC PER COMMON SHARE:        
Basic (in dollars per share) $ 0.20 $ 0.20 $ 0.13 $ 0.40
Diluted (in dollars per share) $ 0.20 $ 0.20 $ 0.13 $ 0.39
WEIGHTED AVERAGE COMMON SHARES ASSUMED OUTSTANDING:        
Basic (in shares) 4,538,970 4,525,109 4,538,005 4,519,279
Diluted (in shares) 4,563,801 4,594,992 4,587,064 4,635,561
[1] The percent of segment sales is calculated by dividing the direct cost of goods sold for each individual segment category by the net sales for each segment category.