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Note 9 - Net Income Per Common Share | 12 Months Ended
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Aug. 31, 2019
Notes to Financial Statements |
Earnings Per Share [Text Block] | 9. 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. The following is a reconciliation of the earnings per share computation:
Numerator: |  | August 31, 2019 |  | August 31, 2018
Net income attributable to NTIC |  | $ | 5,209,622 |  |  | $ | 6,701,366 |
Denominator: |  |  |  |  |  |  |  |
Basic-weighted shares outstanding |  |  | 9,085,584 |  |  |  | 9,077,676 |
Weighted shares assumed upon exercise of stock options |  |  | 330,390 |  |  |  | 292,728 |
Diluted – weighted shares outstanding |  |  | 9,415,974 |  |  |  | 9,370,404 |
Basic earnings per share: |  | $ | 0.57 |  |  | $ | 0.74 |
Diluted earnings per share: |  | $ | 0.55 |  |  | $ | 0.72 |
*Share and per share data have been adjusted for all periods presented to reflect the two -for- one stock split effective June 28, 2019. 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. Excluded from the computation of diluted net income per share as of August 31, 2019 were options to purchase 141,768 shares of common stock. There were no shares excluded from the computation of diluted income per share as of August 31, 2018.

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