Consolidated Statements of Operations (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|
May 31, 2022 |
May 31, 2021 |
May 31, 2022 |
May 31, 2021 |
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| NET SALES: | ||||||||
| Net sales, excluding joint ventures | $ 18,436,253 | $ 14,164,604 | $ 51,654,355 | $ 38,619,353 | ||||
| Net sales, to joint ventures | 528,668 | 1,253,920 | 2,252,618 | 2,361,165 | ||||
| Total net sales | 18,964,921 | 15,418,524 | 53,906,973 | 40,980,518 | ||||
| Cost of goods sold | 12,722,833 | 10,152,582 | 36,977,620 | [1] | 26,997,582 | [1] | ||
| Gross profit | 6,242,088 | 5,265,942 | 16,929,353 | 13,982,936 | ||||
| JOINT VENTURE OPERATIONS: | ||||||||
| Equity in income from joint ventures | 1,364,597 | 2,033,536 | 3,662,178 | 5,779,260 | ||||
| Fees for services provided to joint ventures | 1,329,988 | 1,589,621 | 3,835,755 | 4,388,866 | ||||
| Total joint venture operations | 2,694,585 | 3,623,157 | 7,497,933 | 10,168,126 | ||||
| OPERATING EXPENSES: | ||||||||
| Selling expenses | 3,450,308 | 3,171,657 | 9,659,457 | 8,745,433 | ||||
| General and administrative expenses | 2,560,487 | 2,072,195 | 7,675,622 | 6,125,151 | ||||
| Research and development expenses | 1,102,942 | 1,066,493 | 3,557,437 | 3,217,410 | ||||
| Total operating expenses | 7,113,737 | 6,310,345 | 20,892,516 | 18,087,994 | ||||
| OPERATING INCOME | 1,822,936 | 2,578,754 | 3,534,770 | 6,063,068 | ||||
| REMEASUREMENT GAIN ON ACQUISITION OF EQUITY METHOD INVESTEE | 0 | 0 | 3,951,550 | 0 | ||||
| INTEREST INCOME | 15,925 | 10,676 | 36,777 | 95,852 | ||||
| INTEREST EXPENSE | (23,784) | (3,044) | (34,079) | (10,661) | ||||
| INCOME BEFORE INCOME TAX EXPENSE | 1,815,077 | 2,586,386 | 7,489,018 | 6,148,259 | ||||
| INCOME TAX EXPENSE | 604,314 | 276,338 | 1,260,437 | 929,588 | ||||
| NET INCOME | 1,210,763 | 2,310,048 | 6,228,581 | 5,218,671 | ||||
| NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS | 210,596 | 256,132 | 551,808 | 589,781 | ||||
| NET INCOME ATTRIBUTABLE TO NTIC | $ 1,000,167 | $ 2,053,916 | $ 5,676,773 | $ 4,628,890 | ||||
| NET INCOME ATTRIBUTABLE TO NTIC PER COMMON SHARE: | ||||||||
| Basic (in dollars per share) | $ 0.11 | $ 0.23 | $ 0.62 | $ 0.51 | ||||
| Diluted (in dollars per share) | $ 0.11 | $ 0.21 | $ 0.59 | $ 0.47 | ||||
| WEIGHTED AVERAGE COMMON SHARES ASSUMED OUTSTANDING: | ||||||||
| Basic (in shares) | 9,227,912 | 9,109,861 | 9,216,216 | 9,107,243 | ||||
| Diluted (in shares) | 9,578,797 | 9,972,000 | 9,682,646 | 9,829,052 | ||||
| CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) | $ 0.07 | $ 0.065 | $ 0.21 | $ 0.13 | ||||
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