XML 20 R4.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Feb. 28, 2023
Feb. 28, 2022
Feb. 28, 2023
Feb. 28, 2022
NET SALES:        
Net sales $ 18,270,825 $ 16,748,639 $ 38,223,591 $ 34,942,052
Cost of goods sold 11,867,639 11,764,304 25,467,281 24,254,787
Gross profit 6,403,186 4,984,335 12,756,310 10,687,265
JOINT VENTURE OPERATIONS:        
Equity in income from joint ventures 1,128,731 922,832 2,318,135 2,297,581
Fees for services provided to joint ventures 1,252,746 1,246,909 2,434,551 2,505,767
Total joint venture operations 2,381,477 2,169,741 4,752,686 4,803,348
OPERATING EXPENSES:        
Selling expenses 3,418,717 2,971,391 6,926,151 6,209,149
General and administrative expenses 3,084,189 2,518,788 6,214,788 5,115,135
Research and development expenses 994,450 1,218,674 2,251,174 2,454,495
Total operating expenses 7,497,356 6,708,853 15,392,113 13,778,779
OPERATING INCOME 1,287,307 445,223 2,116,883 1,711,834
REMEASUREMENT GAIN ON ACQUISITION OF EQUITY METHOD INVESTEE 0 0 0 3,951,550
INTEREST INCOME 3,451 9,909 9,619 20,852
INTEREST EXPENSE (115,144) (7,404) (206,475) (10,295)
INCOME BEFORE INCOME TAX EXPENSE 1,175,614 447,728 1,920,027 5,673,941
INCOME TAX EXPENSE 181,795 151,743 292,528 656,123
NET INCOME 993,819 295,985 1,627,499 5,017,818
NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS 108,571 113,138 240,009 341,212
NET INCOME ATTRIBUTABLE TO NTIC $ 885,248 $ 182,847 $ 1,387,490 $ 4,676,606
NET INCOME ATTRIBUTABLE TO NTIC PER COMMON SHARE:        
Basic (in dollars per share) $ 0.10 $ 0.02 $ 0.15 $ 0.51
Diluted (in dollars per share) $ 0.09 $ 0.02 $ 0.14 $ 0.48
WEIGHTED AVERAGE COMMON SHARES ASSUMED OUTSTANDING:        
Basic (in shares) 9,366,357 9,214,817 9,353,989 9,211,858
Diluted (in shares) 9,747,461 9,683,426 9,745,166 9,736,060
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0.07 $ 0.07 $ 0.14 $ 0.14