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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
May 31, 2019
May 31, 2018
May 31, 2019
May 31, 2018
NET SALES:        
Net sales, excluding joint ventures $ 13,780,804 $ 12,044,513 $ 39,998,118 $ 34,479,773
Net sales, to joint ventures 1,112,313 879,324 2,304,455 2,201,077
Total net sales 14,893,117 12,923,837 42,302,573 36,680,850
Cost of goods sold 10,138,353 8,592,366 28,883,589 24,493,672
Gross profit 4,754,764 4,331,471 13,418,984 12,187,178
JOINT VENTURE OPERATIONS:        
Equity in income from joint ventures 1,877,410 2,246,066 5,596,788 5,793,391
Fees for services provided to joint ventures 1,433,823 1,508,500 4,299,032 4,624,532
Total joint venture operations 3,311,233 3,754,566 9,895,820 10,417,923
OPERATING EXPENSES:        
Selling expenses 2,761,488 2,784,694 8,077,663 8,028,279
General and administrative expenses 2,527,192 1,987,785 6,986,526 6,012,746
Research and development expenses 1,005,045 860,347 2,804,739 2,581,824
Total operating expenses 6,293,725 5,632,826 17,868,928 16,622,849
OPERATING INCOME 1,772,272 2,453,211 5,445,876 5,982,252
INTEREST INCOME 24,114 35,630 52,023 84,569
INTEREST EXPENSE (5,165) (3,139) (11,357) (14,007)
INCOME BEFORE INCOME TAX EXPENSE 1,791,221 2,485,702 5,486,542 6,052,814
INCOME TAX EXPENSE 150,257 181,683 652,331 1,128,583
NET INCOME 1,640,964 2,304,019 4,834,211 4,924,231
NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS 158,815 161,267 453,435 365,006
NET INCOME ATTRIBUTABLE TO NTIC $ 1,482,149 $ 2,142,752 $ 4,380,776 $ 4,559,225
NET INCOME ATTRIBUTABLE TO NTIC PER COMMON SHARE:        
Basic (in dollars per share) $ 0.16 $ 0.24 $ 0.48 $ 0.50
Diluted (in dollars per share) $ 0.16 $ 0.23 $ 0.46 $ 0.49
WEIGHTED AVERAGE COMMON SHARES ASSUMED OUTSTANDING:        
Basic (in shares) 9,084,354 9,078,706 9,085,584 9,077,676
Diluted (in shares) 9,392,444 9,414,064 9,440,858 9,327,694
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0.06 $ 0.05 $ 0.18 $ 0.15