Northern Technologies International Corp. - NTIC STOCK NEWS

Northern Technologies International (NASDAQ: NTIC), a developer of corrosion inhibiting products and bio-based polymer resin compounds, has declared a quarterly cash dividend of $0.07 per share. The dividend will be payable on August 14, 2024, to shareholders of record at the close of business on July 31, 2024. This announcement demonstrates NTIC's commitment to returning value to shareholders and may indicate confidence in the company's financial stability and future prospects.

Northern Technologies International (NASDAQ: NTIC) announced its financial results for Q3 fiscal 2024. Consolidated net sales fell 1.4% to $20.69M. ZERUST® industrial net sales decreased by 4.4% to $13.48M, and ZERUST® oil and gas net sales dropped 31.9% to $1.36M. However, Natur-Tec® product net sales surged 20.1% to a record $5.85M. NTIC China net sales grew by 6.7% to $3.54M. Gross profit margin rose by 210 basis points to 38.2%. Joint venture operating income slipped 3.6% to $2.61M. Net income attributable to NTIC declined 7.8% to $0.98M, or $0.10 per diluted share. Operating expenses increased to 43.4% of net sales. Year-to-date, consolidated net sales grew by 4.3% to $61.71M, with Natur-Tec® sales up by 22.5%. Cash provided by operating activities surged 116% to $7.58M for the nine months ended May 31, 2024.

Northern Technologies International (NASDAQ: NTIC) is set to release its fiscal 2024 third-quarter financial results on July 11, 2024, before the market opens.

Following the release, a conference call will be held at 9:00 a.m. Eastern Time with President and CEO Patrick Lynch, and CFO Matt Wolsfeld. The call will review the financial results and outlook, followed by a Q&A session.

Investors and analysts can join the call by registering through the provided URL. A webcast will also be available and archived for one year on NTIC's Investor Relations webpage.

Northern Technologies International (NASDAQ: NTIC) is set to join the Russell 3000 Index at the conclusion of the 2024 Russell U.S. Indexes annual reconstitution, effective July 1, 2024. This inclusion reflects the company's market capitalization as of April 30, 2024. Membership in the Russell 3000 Index entails automatic inclusion in either the Russell 1000 or Russell 2000 Index, alongside the relevant growth and value style indexes. NTIC's recent growth, highlighted by record second-quarter fiscal 2024 ZERUST® and Natur-Tec® sales, and improved gross margins, underscores the significance of this development. The Russell U.S. Indexes are critical benchmarks for investment managers, with $10.5 trillion in assets tied to them as of December 2023.

Northern Technologies International (NASDAQ: NTIC) declares a quarterly cash dividend of $0.07 per share, reinforcing shareholder value and financial stability.

Northern Technologies International (NASDAQ: NTIC) reported strong financial results for the second quarter of fiscal 2024, showing significant growth in net sales, gross profit, and net income. The company achieved record sales in various product categories, with a notable increase in ZERUST® oil and gas sales and Natur-Tec® product sales. NTIC's joint venture operating income also saw a positive growth. The company's focus on cost reduction and operational efficiency is driving profitability improvements and positive cash flow generation. Overall, NTIC anticipates continued sales growth and enhanced profitability for fiscal 2024.

Northern Technologies International (NASDAQ: NTIC) will release its fiscal 2024 second quarter financial results on April 11, 2024, followed by a conference call with management. Investors can access the news release and webcast on NTIC's webpage.

Northern Technologies International Corporation (NTIC) declared a quarterly cash dividend of $0.07 per share, payable on February 14, 2024, to shareholders of record at the close of business on January 31, 2024.

Northern Technologies International Corporation (NTIC) reported its financial results for the first quarter of fiscal 2024, showing a 1.1% increase in consolidated net sales to a record of $20,182,000. The company experienced stable demand across its ZERUST® industrial and Natur-Tec markets, with an increase in gross margin and net income. However, ZERUST® oil and gas net sales decreased by 7.4% to $1,502,000, and NTIC China net sales decreased by 1.8% to $3,679,000. The joint venture operating income decreased by 0.8% to $2,351,000, and operating expenses as a percent of net sales increased to 41.2% from 39.6% in the same period last fiscal year.