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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Feb. 29, 2020
Feb. 28, 2019
Feb. 29, 2020
Feb. 28, 2019
NET SALES:        
Net sales, excluding joint ventures $ 12,988,153 $ 12,606,449 $ 27,033,937 $ 26,217,314
Net sales, to joint ventures 245,630 708,955 831,246 1,192,142
Total net sales 13,233,783 13,315,404 27,865,183 27,409,456
Cost of goods sold 8,687,301 9,284,099 18,492,385 18,745,236
Gross profit 4,546,482 4,031,305 9,372,798 8,664,220
JOINT VENTURE OPERATIONS:        
Equity in income from joint ventures 1,360,804 1,715,216 2,654,794 3,719,378
Fees for services provided to joint ventures 1,256,213 1,436,774 2,614,538 2,865,209
Total joint venture operations 2,617,017 3,151,990 5,269,332 6,584,587
OPERATING EXPENSES:        
Selling expenses 3,110,240 2,505,081 5,997,532 5,316,175
General and administrative expenses 2,345,113 1,963,537 4,394,800 4,459,334
Research and development expenses 1,006,395 927,537 1,968,036 1,799,694
Total operating expenses 6,461,748 5,396,155 12,360,368 11,575,203
OPERATING INCOME 701,751 1,787,140 2,281,762 3,673,604
INTEREST INCOME 55,042 15,122 104,080 27,909
INTEREST EXPENSE (9,377) (3,835) (14,821) (6,192)
INCOME BEFORE INCOME TAX EXPENSE 747,416 1,798,427 2,371,021 3,695,321
INCOME TAX EXPENSE 463,594 246,371 727,660 502,074
NET INCOME 283,822 1,552,056 1,643,361 3,193,247
NET INCOME ATTRIBUTABLE TO NON- CONTROLLING INTERESTS 103,988 150,488 250,977 294,620
NET INCOME ATTRIBUTABLE TO NTIC $ 179,834 $ 1,401,568 $ 1,392,384 $ 2,898,627
NET INCOME ATTRIBUTABLE TO NTIC PER COMMON SHARE:        
Basic (in dollars per share) $ 0.02 $ 0.16 $ 0.15 $ 0.32
Diluted (in dollars per share) $ 0.02 $ 0.15 $ 0.15 $ 0.31
WEIGHTED AVERAGE COMMON SHARES ASSUMED OUTSTANDING:        
Basic (in shares) 9,097,236 9,084,354 9,095,604 9,084,350
Diluted (in shares) 9,461,727 9,447,860 9,383,867 9,463,216
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0.065 $ 0.06 $ 0.13 $ 0.12