XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.2
Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
May 31, 2024
May 31, 2023
May 31, 2024
May 31, 2023
NET SALES:        
Net sales $ 20,686,197 $ 20,969,726 $ 61,710,410 $ 59,193,317
Cost of goods sold 12,793,103 13,389,873 38,143,878 38,957,272
Gross profit 7,893,094 7,579,853 23,566,532 20,236,045
JOINT VENTURE OPERATIONS:        
Equity in income from joint ventures 1,396,731 1,346,658 3,676,962 3,664,793
Fees for services provided to joint ventures 1,212,497 1,361,311 3,764,514 3,795,862
Total joint venture operations 2,609,228 2,707,969 7,441,476 7,460,655
OPERATING EXPENSES:        
Selling expenses 4,232,887 3,893,152 12,053,839 10,996,303
General and administrative expenses 3,500,113 3,205,645 10,253,966 9,470,433
Research and development expenses 1,245,405 1,282,439 3,593,582 3,680,246
Total operating expenses 8,978,405 8,381,236 25,901,387 24,146,982
OPERATING INCOME 1,523,917 1,906,586 5,106,621 3,549,718
INTEREST INCOME 23,744 8,876 99,396 18,495
INTEREST EXPENSE (59,939) (136,168) (248,835) (342,643)
INCOME BEFORE INCOME TAX EXPENSE 1,478,722 1,779,294 4,957,182 3,225,570
INCOME TAX EXPENSE 332,400 542,295 848,391 834,823
NET INCOME 1,155,322 1,236,999 4,108,791 2,390,747
NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS 178,718 177,409 535,497 417,418
NET INCOME ATTRIBUTABLE TO NTIC $ 976,604 $ 1,059,590 $ 3,573,294 $ 1,973,329
NET INCOME ATTRIBUTABLE TO NTIC PER COMMON SHARE:        
Basic (in dollars per share) $ 0.1 $ 0.11 $ 0.38 $ 0.21
Diluted (in dollars per share) $ 0.1 $ 0.11 $ 0.36 $ 0.2
WEIGHTED AVERAGE COMMON SHARES ASSUMED OUTSTANDING:        
Basic (in shares) 9,431,134 9,369,923 9,432,684 9,355,776
Diluted (in shares) 10,015,674 9,628,069 9,819,220 9,702,610
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0.07 $ 0.07 $ 0.21 $ 0.21