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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
May 31, 2021
May 31, 2020
May 31, 2021
May 31, 2020
NET SALES:        
Net sales, excluding joint ventures $ 14,164,604 $ 9,071,072 $ 38,619,353 $ 36,105,009
Net sales, to joint ventures 1,253,920 673,751 2,361,165 1,504,997
Total net sales 15,418,524 9,744,823 40,980,518 37,610,006
Cost of goods sold 10,152,582 6,499,102 26,997,582 24,991,487
Gross profit 5,265,942 3,245,721 13,982,936 12,618,519
JOINT VENTURE OPERATIONS:        
Equity in income from joint ventures 2,033,536 811,787 5,779,260 3,466,581
Fees for services provided to joint ventures 1,589,621 876,706 4,388,866 3,491,244
Total joint venture operations 3,623,157 1,688,493 10,168,126 6,957,825
OPERATING EXPENSES:        
Selling expenses 3,171,657 2,487,396 8,745,433 8,484,928
General and administrative expenses 2,072,195 2,213,552 6,125,151 6,608,352
Research and development expenses 1,066,493 950,127 3,217,410 2,918,163
Total operating expenses 6,310,345 5,651,075 18,087,994 18,011,443
OPERATING INCOME (LOSS) 2,578,754 (716,861) 6,063,068 1,564,901
INTEREST INCOME (EXPENSE) 7,632 (73,378) 85,191 15,881
INCOME (LOSS) BEFORE INCOME TAX EXPENSE 2,586,386 (790,239) 6,148,259 1,580,782
INCOME TAX EXPENSE 276,338 142,285 929,588 869,945
NET INCOME (LOSS) 2,310,048 (932,524) 5,218,671 710,837
NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS 256,132 32,697 589,781 283,674
NET INCOME (LOSS) ATTRIBUTABLE TO NTIC $ 2,053,916 $ (965,221) $ 4,628,890 $ 427,163
NET INCOME (LOSS) ATTRIBUTABLE TO NTIC PER COMMON SHARE:        
Basic (in dollars per share) $ 0.23 $ (0.11) $ 0.51 $ 0.05
Diluted (in dollars per share) $ 0.21 $ (0.11) $ 0.47 $ 0.05
WEIGHTED AVERAGE COMMON SHARES ASSUMED OUTSTANDING:        
Basic (in shares) 9,109,861 9,099,990 9,107,243 9,096,981
Diluted (in shares) 9,972,000 9,099,990 9,829,052 9,312,914
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0.065 $ 0.00 $ 0.13 $ 0.13