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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
May 31, 2020
May 31, 2019
May 31, 2020
May 31, 2019
NET SALES:        
Net sales, excluding joint ventures $ 9,071,072 $ 13,780,804 $ 36,105,009 $ 39,998,118
Net sales, to joint ventures 673,751 1,112,313 1,504,997 2,304,455
Total net sales 9,744,823 14,893,117 37,610,006 42,302,573
Cost of goods sold 6,499,102 10,138,353 24,991,487 28,883,589
Gross profit 3,245,721 4,754,764 12,618,519 13,418,984
JOINT VENTURE OPERATIONS:        
Equity in income from joint ventures 811,787 1,877,410 3,466,581 5,596,788
Fees for services provided to joint ventures 876,706 1,433,823 3,491,244 4,299,032
Total joint venture operations 1,688,493 3,311,233 6,957,825 9,895,820
OPERATING EXPENSES:        
Selling expenses 2,487,396 2,761,488 8,484,928 8,077,663
General and administrative expenses 2,213,552 2,527,192 6,608,352 6,986,526
Research and development expenses 950,127 1,005,045 2,918,163 2,804,739
Total operating expenses 5,651,075 6,293,725 18,011,443 17,868,928
OPERATING (LOSS) INCOME (716,861) 1,772,272 1,564,901 5,445,876
INTEREST (EXPENSE) INCOME (73,738) 18,949 15,881 40,666
(LOSS) INCOME BEFORE INCOME TAX EXPENSE (790,239) 1,791,221 1,580,782 5,486,542
INCOME TAX EXPENSE 142,285 150,257 869,945 652,331
NET (LOSS) INCOME (932,524) 1,640,964 710,837 4,834,211
NET INCOME ATTRIBUTABLE TO NON- CONTROLLING INTERESTS 32,697 158,815 283,674 453,435
NET (LOSS) INCOME ATTRIBUTABLE TO NTIC $ (965,221) $ 1,482,149 $ 427,163 $ 4,380,776
NET (LOSS) INCOME ATTRIBUTABLE TO NTIC PER COMMON SHARE:        
Basic (in dollars per share) $ (0.11) $ 0.16 $ 0.05 $ 0.48
Diluted (in dollars per share) $ (0.11) $ 0.16 $ 0.05 $ 0.46
WEIGHTED AVERAGE COMMON SHARES ASSUMED OUTSTANDING:        
Basic (in shares) 9,099,990 9,084,354 9,096,981 9,085,584
Diluted (in shares) 9,099,990 9,392,444 9,312,914 9,440,858
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0 $ 0.06 $ 0.13 $ 0.18