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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Feb. 28, 2022
Feb. 28, 2021
NET SALES:        
Net sales, excluding joint ventures $ 15,865,128 $ 12,255,941 $ 33,218,102 $ 24,454,749
Net sales, to joint ventures 883,511 526,941 1,723,950 1,107,245
Total net sales 16,748,639 12,782,882 34,942,052 25,561,994
Cost of goods sold 11,764,304 8,531,679 24,254,787 [1] 16,845,000 [1]
Gross profit 4,984,335 4,251,203 10,687,265 8,716,994
JOINT VENTURE OPERATIONS:        
Equity in income from joint ventures 922,832 1,920,012 2,297,581 3,745,724
Fees for services provided to joint ventures 1,246,909 1,462,684 2,505,767 2,799,245
Total joint venture operations 2,169,741 3,382,696 4,803,348 6,544,969
OPERATING EXPENSES:        
Selling expenses 2,971,391 2,832,008 6,209,149 5,573,776
General and administrative expenses 2,518,788 1,958,974 5,115,135 4,052,956
Research and development expenses 1,218,674 1,075,180 2,454,495 2,150,917
Total operating expenses 6,708,853 5,866,162 13,778,779 11,777,649
OPERATING INCOME 445,223 1,767,737 1,711,834 3,484,314
REMEASUREMENT GAIN ON ACQUISITION OF EQUITY METHOD INVESTEE 0 0 3,951,550 0
INTEREST INCOME 9,909 15,638 20,852 85,176
INTEREST EXPENSE (7,404) (5,249) (10,295) (7,617)
INCOME BEFORE INCOME TAX EXPENSE 447,728 1,778,126 5,673,941 3,561,873
INCOME TAX EXPENSE 151,743 274,660 656,123 653,250
NET INCOME 295,985 1,503,466 5,017,818 2,908,623
NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS 113,138 190,891 341,212 333,649
NET INCOME ATTRIBUTABLE TO NTIC $ 182,847 $ 1,312,575 $ 4,676,606 $ 2,574,974
NET INCOME ATTRIBUTABLE TO NTIC PER COMMON SHARE:        
Basic (in dollars per share) $ 0.02 $ 0.14 $ 0.51 $ 0.28
Diluted (in dollars per share) $ 0.02 $ 0.13 $ 0.48 $ 0.26
WEIGHTED AVERAGE COMMON SHARES ASSUMED OUTSTANDING:        
Basic (in shares) 9,214,817 9,104,636 9,211,858 9,104,623
Diluted (in shares) 9,683,426 9,867,918 9,736,060 9,756,268
Amount (in dollars per share) $ 0.07 $ 0.065 $ 0.14 $ 0.065
[1] The percent of segment sales is calculated by dividing the direct cost of goods sold for each individual segment category by the net sales for each segment category.