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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Feb. 28, 2021
Feb. 29, 2020
Feb. 28, 2021
Feb. 29, 2020
NET SALES:        
Net sales, excluding joint ventures $ 12,255,941 $ 12,988,153 $ 24,454,749 $ 27,033,937
Net sales, to joint ventures 526,941 245,630 1,107,245 831,246
Total net sales 12,782,882 13,233,783 25,561,994 27,865,183
Cost of goods sold 8,531,679 8,687,301 16,845,000 18,492,385
Gross profit 4,251,203 4,546,482 8,716,994 9,372,798
JOINT VENTURE OPERATIONS:        
Equity in income from joint ventures 1,920,012 1,360,804 3,745,724 2,654,794
Fees for services provided to joint ventures 1,462,684 1,256,213 2,799,245 2,614,538
Total joint venture operations 3,382,696 2,617,017 6,544,969 5,269,332
OPERATING EXPENSES:        
Selling expenses 2,832,008 3,110,240 5,573,776 5,997,532
General and administrative expenses 1,958,974 2,345,113 4,052,956 4,394,800
Research and development expenses 1,075,180 1,006,395 2,150,917 1,968,036
Total operating expenses 5,866,162 6,461,748 11,777,649 12,360,368
OPERATING INCOME 1,767,737 701,751 3,484,314 2,281,762
INTEREST INCOME 15,638 55,042 85,176 104,080
INTEREST EXPENSE (5,249) (9,377) (7,617) (14,821)
INCOME BEFORE INCOME TAX EXPENSE 1,778,126 747,416 3,561,873 2,371,021
INCOME TAX EXPENSE 274,660 463,594 653,250 727,660
NET INCOME 1,503,466 283,822 2,908,623 1,643,361
NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS 190,891 103,988 333,649 250,977
NET INCOME ATTRIBUTABLE TO NTIC $ 1,312,575 $ 179,834 $ 2,574,974 $ 1,392,384
NET INCOME ATTRIBUTABLE TO NTIC PER COMMON SHARE:        
Basic (in dollars per share) $ 0.14 $ 0.02 $ 0.28 $ 0.15
Diluted (in dollars per share) $ 0.13 $ 0.02 $ 0.26 $ 0.15
WEIGHTED AVERAGE COMMON SHARES ASSUMED OUTSTANDING:        
Basic (in shares) 9,104,636 9,097,236 9,104,623 9,095,604
Diluted (in shares) 9,867,918 9,461,727 9,756,268 9,383,867
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0.065 $ 0.065 $ 0.065 $ 0.13