XML 13 R3.htm IDEA: XBRL DOCUMENT v3.21.4
Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended
Nov. 30, 2021
Nov. 30, 2020
NET SALES:    
Net sales, excluding joint ventures $ 17,352,974 $ 12,198,808
Net sales, to joint ventures 840,439 580,304
Total net sales 18,193,413 12,779,112
Cost of goods sold 12,490,483 8,313,321
Gross profit 5,702,930 4,465,791
JOINT VENTURE OPERATIONS:    
Equity in income from joint ventures 1,374,749 1,825,712
Fees for services provided to joint ventures 1,258,858 1,336,561
Total joint venture operations 2,633,607 3,162,273
OPERATING EXPENSES:    
Selling expenses 3,237,758 2,741,768
General and administrative expenses 2,596,347 2,093,982
Research and development expenses 1,235,821 1,075,737
Total operating expenses 7,069,926 5,911,487
OPERATING INCOME 1,266,611 1,716,577
REMEASUREMENT GAIN ON ACQUISITION OF EQUITY METHOD INVESTEE 3,951,550 0
INTEREST INCOME 10,943 69,538
INTEREST EXPENSE (2,891) (2,368)
INCOME BEFORE INCOME TAX EXPENSE 5,226,213 1,783,747
INCOME TAX EXPENSE 504,380 378,590
NET INCOME 4,721,833 1,405,157
NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS 228,074 142,758
NET INCOME ATTRIBUTABLE TO NTIC $ 4,493,759 $ 1,262,399
NET INCOME ATTRIBUTABLE TO NTIC PER COMMON SHARE:    
Basic (in dollars per share) $ 0.49 $ 0.14
Diluted (in dollars per share) $ 0.46 $ 0.13
WEIGHTED AVERAGE COMMON SHARES ASSUMED OUTSTANDING:    
Basic (in shares) 9,199,976 9,104,623
Diluted (in shares) 9,779,770 9,644,630
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0.07 $ 0