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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Nov. 30, 2020
Nov. 30, 2019
NET SALES:    
Net sales, excluding joint ventures $ 12,198,808 $ 14,045,784
Net sales, to joint ventures 580,304 585,616
Total net sales 12,779,112 14,631,400
Cost of goods sold 8,313,321 9,805,084
Gross profit 4,465,791 4,826,316
JOINT VENTURE OPERATIONS:    
Equity in income from joint ventures 1,825,712 1,293,990
Fees for services provided to joint ventures 1,336,561 1,358,325
Total joint venture operations 3,162,273 2,652,315
OPERATING EXPENSES:    
Selling expenses 2,741,768 2,887,292
General and administrative expenses 2,093,982 2,049,687
Research and development expenses 1,075,737 961,641
Total operating expenses 5,911,487 5,898,620
OPERATING INCOME 1,716,577 1,580,011
INTEREST INCOME 69,538 49,038
INTEREST EXPENSE (2,368) (5,444)
INCOME BEFORE INCOME TAX EXPENSE 1,783,747 1,623,605
INCOME TAX EXPENSE 378,590 264,066
NET INCOME 1,405,157 1,359,539
NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS 142,758 146,989
NET INCOME ATTRIBUTABLE TO NTIC $ 1,262,399 $ 1,212,550
NET INCOME ATTRIBUTABLE TO NTIC PER COMMON SHARE:    
Basic (in dollars per share) $ 0.14 $ 0.13
Diluted (in dollars per share) $ 0.13 $ 0.13
WEIGHTED AVERAGE COMMON SHARES ASSUMED OUTSTANDING:    
Basic (in shares) 9,104,623 9,095,607
Diluted (in shares) 9,644,630 9,407,642
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0 $ 0.065