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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
May 31, 2023
May 31, 2022
May 31, 2023
May 31, 2022
NET SALES:        
Net sales $ 20,969,726 $ 18,964,921 $ 59,193,317 $ 53,906,973
Cost of goods sold 13,280,584 12,722,833 38,747,865 36,977,620
Gross profit 7,689,142 6,242,088 20,445,452 16,929,353
JOINT VENTURE OPERATIONS:        
Equity in income from joint ventures 1,346,658 1,364,597 3,664,793 3,662,178
Fees for services provided to joint ventures 1,361,311 1,329,988 3,795,862 3,835,755
Total joint venture operations 2,707,969 2,694,585 7,460,655 7,497,933
OPERATING EXPENSES:        
Selling expenses 3,723,165 3,450,308 10,649,316 9,659,457
General and administrative expenses 3,150,643 2,560,487 9,365,431 7,675,622
Research and development expenses 1,150,711 1,102,942 3,401,885 3,557,437
Total operating expenses 8,024,519 7,113,737 23,416,632 20,892,516
OPERATING INCOME 2,372,592 1,822,936 4,489,475 3,534,770
REMEASUREMENT GAIN ON ACQUISITION OF EQUITY METHOD INVESTEE 0 0 0 3,951,550
INTEREST INCOME 8,876 15,925 18,495 36,777
INTEREST EXPENSE (136,168) (23,784) (342,643) (34,079)
INCOME BEFORE INCOME TAX EXPENSE 2,245,300 1,815,077 4,165,327 7,489,018
INCOME TAX EXPENSE 542,295 604,314 834,823 1,260,437
NET INCOME 1,703,005 1,210,763 3,330,504 6,228,581
NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS 177,409 210,596 417,418 551,808
NET INCOME ATTRIBUTABLE TO NTIC $ 1,525,596 $ 1,000,167 $ 2,913,086 $ 5,676,773
NET INCOME ATTRIBUTABLE TO NTIC PER COMMON SHARE:        
Basic (in dollars per share) $ 0.16 $ 0.11 $ 0.31 $ 0.62
Diluted (in dollars per share) $ 0.16 $ 0.11 $ 0.30 $ 0.59
WEIGHTED AVERAGE COMMON SHARES ASSUMED OUTSTANDING:        
Basic (in shares) 9,369,923 9,227,912 9,355,776 9,216,216
Diluted (in shares) 9,628,069 9,578,797 9,702,610 9,682,646
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0.07 $ 0.07 $ 0.21 $ 0.21