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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
May 31, 2017
May 31, 2016
May 31, 2017
May 31, 2016
NET SALES:        
Net sales, excluding joint ventures $ 9,360,883 $ 7,925,357 $ 26,552,434 $ 21,454,381
Net sales, to joint ventures 862,136 761,218 2,115,511 1,961,565
Total net sales 10,223,019 8,686,575 28,667,945 23,415,946
Cost of goods sold 6,774,001 5,777,249 19,256,953 15,920,896
Gross profit 3,449,018 2,909,326 9,410,992 7,495,050
JOINT VENTURE OPERATIONS:        
Equity in income of joint ventures 1,686,016 1,664,464 4,343,159 3,600,884
Fees for services provided to joint ventures 1,442,048 1,351,913 3,941,667 3,808,384
Total joint venture operations 3,128,064 3,016,377 8,284,826 7,409,268
OPERATING EXPENSES:        
Selling expenses 2,430,824 1,507,200 6,716,390 4,507,716
General and administrative expenses 1,682,669 1,957,868 5,996,977 5,939,032
Research and development expenses 733,651 1,231,950 2,118,210 3,349,572
Total operating expenses 4,847,144 4,697,018 14,831,577 13,796,320
OPERATING INCOME 1,729,938 1,228,685 2,864,241 1,107,998
INTEREST INCOME 10,996 29,868 19,075 58,425
INTEREST EXPENSE (7,409) (15,465) (15,502) (30,987)
OTHER INCOME 6,294 7,255
INCOME BEFORE INCOME TAX EXPENSE 1,733,525 1,249,382 2,867,814 1,142,691
INCOME TAX EXPENSE 237,801 225,395 480,423 262,359
NET INCOME 1,495,724 1,023,987 2,387,391 880,332
NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS 143,308 106,614 350,370 305,099
NET INCOME ATTRIBUTABLE TO NTIC $ 1,352,416 $ 917,373 $ 2,037,021 $ 575,233
NET INCOME ATTRIBUTABLE TO NTIC PER COMMON SHARE:        
Basic (in dollars per share) $ 0.30 $ 0.20 $ 0.45 $ 0.13
Diluted (in dollars per share) $ 0.30 $ 0.20 $ 0.45 $ 0.13
WEIGHTED AVERAGE COMMON SHARES ASSUMED OUTSTANDING:        
Basic (in shares) 4,526,771 4,538,970 4,528,523 4,538,005
Diluted (in shares) 4,591,527 4,563,801 4,571,395 4,587,064