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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Feb. 28, 2019
Feb. 28, 2018
Feb. 28, 2019
Feb. 28, 2018
NET SALES:        
Net sales, excluding joint ventures $ 12,606,449 $ 11,399,853 $ 26,217,314 $ 22,435,260
Net sales, to joint ventures 708,955 814,122 1,192,142 1,321,753
Total net sales 13,315,404 12,213,975 27,409,456 23,757,013
Cost of goods sold 9,284,099 8,012,836 18,745,236 15,901,306
Gross profit 4,031,305 4,201,139 8,664,220 7,855,707
JOINT VENTURE OPERATIONS:        
Equity in income from joint ventures 1,715,216 1,805,997 3,719,378 3,547,325
Fees for services provided to joint ventures 1,436,774 1,608,890 2,865,209 3,116,032
Total joint venture operations 3,151,990 3,414,887 6,584,587 6,663,357
OPERATING EXPENSES:        
Selling expenses 2,505,081 2,643,636 5,316,175 5,243,585
General and administrative expenses 1,963,537 1,805,216 4,459,334 4,024,961
Research and development expenses 927,537 922,746 1,799,694 1,721,477
Total operating expenses 5,396,155 5,371,598 11,575,203 10,990,023
OPERATING INCOME 1,787,140 2,244,428 3,673,604 3,529,041
INTEREST INCOME 15,122 24,883 27,909 48,939
INTEREST EXPENSE (3,835) (5,779) (6,192) (10,868)
INCOME BEFORE INCOME TAX EXPENSE 1,798,427 2,263,532 3,695,321 3,567,112
INCOME TAX EXPENSE 246,371 841,909 502,074 946,900
NET INCOME 1,552,056 1,421,623 3,193,247 2,620,212
NET INCOME ATTRIBUTABLE TO NON- CONTROLLING INTERESTS 150,488 88,776 294,620 203,739
NET INCOME ATTRIBUTABLE TO NTIC $ 1,401,568 $ 1,332,847 $ 2,898,627 $ 2,416,473
NET INCOME ATTRIBUTABLE TO NTIC PER COMMON SHARE:        
Basic (in dollars per share) $ 0.31 $ 0.29 $ 0.64 $ 0.53
Diluted (in dollars per share) $ 0.30 $ 0.29 $ 0.61 $ 0.52
WEIGHTED AVERAGE COMMON SHARES ASSUMED OUTSTANDING:        
Basic (in shares) 4,542,177 4,537,408 4,542,175 4,537,368
Diluted (in shares) 4,723,930 4,673,338 4,731,608 4,641,042
Amount (in dollars per share) $ 0.12 $ 0.10 $ 0.24 $ 0.20