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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
May 31, 2018
May 31, 2017
May 31, 2018
May 31, 2017
NET SALES:        
Net sales, excluding joint ventures $ 12,044,513 $ 9,360,883 $ 34,479,773 $ 26,552,434
Net sales, to joint ventures 879,324 862,136 2,201,077 2,115,511
Total net sales 12,923,837 10,223,019 36,680,850 28,667,945
Cost of goods sold 8,592,366 6,774,001 24,493,672 19,256,953
Gross profit 4,331,471 3,449,018 12,187,178 9,410,992
JOINT VENTURE OPERATIONS:        
Equity in income from joint ventures 2,246,066 1,686,016 5,793,391 4,343,159
Fees for services provided to joint ventures 1,508,500 1,442,048 4,624,532 3,941,667
Total joint venture operations 3,754,566 3,128,064 10,417,923 8,284,826
OPERATING EXPENSES:        
Selling expenses 2,784,694 2,430,824 8,028,279 6,716,390
General and administrative expenses 1,987,785 1,682,669 6,012,746 5,996,977
Research and development expenses 860,347 733,651 2,581,824 2,118,210
Total operating expenses 5,632,826 4,847,144 16,622,849 14,831,577
OPERATING INCOME 2,453,211 1,729,938 5,982,252 2,864,241
INTEREST INCOME 35,630 10,996 84,569 19,075
INTEREST EXPENSE (3,139) (7,409) (14,007) (15,502)
INCOME BEFORE INCOME TAX EXPENSE 2,485,702 1,733,525 6,052,814 2,867,814
INCOME TAX EXPENSE 181,683 237,801 1,128,583 480,423
NET INCOME 2,304,019 1,495,724 4,924,231 2,387,391
NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS 161,267 143,308 365,006 350,370
NET INCOME ATTRIBUTABLE TO NTIC $ 2,142,752 $ 1,352,416 $ 4,559,225 $ 2,037,021
NET INCOME ATTRIBUTABLE TO NTIC PER COMMON SHARE:        
Basic (in dollars per share) $ 0.47 $ 0.30 $ 1 $ 0.45
Diluted (in dollars per share) $ 0.46 $ 0.30 $ 0.98 $ 0.45
WEIGHTED AVERAGE COMMON SHARES ASSUMED OUTSTANDING:        
Basic (in shares) 4,539,353 4,526,771 4,538,838 4,528,523
Diluted (in shares) 4,707,032 4,591,527 4,663,847 4,571,395
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0.10 $ 0 $ 0.30 $ 0