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Note 9 - Net Income Per Common Share
 12 Months Ended
Aug. 31, 2024
Notes to Financial Statements  
Earnings Per Share [Text Block]

9.

NET INCOME PER COMMON SHARE

 

Basic net income per common share is computed by dividing net income by the weighted average number of common shares outstanding. Diluted net income per share assumes the exercise of stock options using the treasury stock method, if dilutive.

 

The following is a reconciliation of the net income per share computation for fiscal 2024 and fiscal 2023:

 

Numerator:

  

August 31, 2024

    

August 31, 2023

  

Net income attributable to NTIC

   $ 5,409,082     $ 2,912,276  
                 

Denominator:

                

Basic-weighted shares outstanding

     9,434,020       9,359,504  

Weighted shares assumed upon exercise of stock options

     399,430       333,978  

Diluted – weighted shares outstanding

     9,833,450       9,693,482  
                 

Basic net income per share:

   $ 0.57     $ 0.31  

Diluted net income per share:

   $ 0.55     $ 0.30  

 

The dilutive impact summarized above relates to the periods when the average market price of the Company’s common stock exceeded the exercise price of the potentially dilutive option securities granted. Net income per common share was based on the weighted average number of common shares outstanding during the periods when computing the basic net income per share. When dilutive, stock options are included as equivalents using the treasury stock market method when computing the diluted net income per share. Excluded from the computation of diluted net income per share as of August 31, 2024 were options outstanding to purchase 305,514 shares of common stock. Excluded from the computation of diluted net income per share as of August 31, 2023 were options outstanding to purchase 322,246 shares of common stock.