Northern Technologies International Corporation Reports Financial Results for Second Quarter Fiscal 2025
Northern Technologies International (NTIC) reported challenging Q2 fiscal 2025 results with notable declines across key metrics. Consolidated net sales decreased 8.5% to $19.07 million, with ZERUST® industrial sales down 3.7%, ZERUST® oil and gas sales falling 28.5%, and Natur-Tec® sales declining 11.8%. Only NTIC China showed growth, increasing 8.1% to $3.74 million.
The company's profitability metrics weakened, with gross profit margin dropping 440 basis points to 35.6%. Net income attributable to NTIC fell significantly to $434,000 ($0.04 per diluted share) from $1.7 million ($0.17 per diluted share) in the prior year. The company received a one-time Employee Retention Credit payment of $1.14 million.
In response to these headwinds, NTIC announced a reduction in its quarterly dividend to $0.01 per share and is focusing on debt reduction. Management expects a rebound in Natur-Tec® and ZERUST® oil and gas sales in the second half of the fiscal year.
Northern Technologies International (NTIC) ha riportato risultati deludenti per il secondo trimestre dell'anno fiscale 2025, con cali significativi in vari indicatori chiave. Le vendite nette consolidate sono diminuite dell'8,5%, raggiungendo 19,07 milioni di dollari, con le vendite industriali ZERUST® in calo del 3,7%, le vendite di ZERUST® per il settore oil and gas in calo del 28,5% e le vendite di Natur-Tec® in diminuzione dell'11,8%. Solo NTIC Cina ha mostrato una crescita, aumentando dell'8,1% a 3,74 milioni di dollari.
I parametri di redditività dell'azienda sono peggiorati, con il margine di profitto lordo che è sceso di 440 punti base, attestandosi al 35,6%. L'utile netto attribuibile a NTIC è diminuito significativamente a 434.000 dollari (0,04 dollari per azione diluita) rispetto a 1,7 milioni di dollari (0,17 dollari per azione diluita) dell'anno precedente. L'azienda ha ricevuto un pagamento una tantum di credito per la retention dei dipendenti di 1,14 milioni di dollari.
In risposta a queste difficoltà, NTIC ha annunciato una riduzione del suo dividendo trimestrale a 0,01 dollari per azione e si sta concentrando sulla riduzione del debito. La direzione si aspetta un recupero delle vendite di Natur-Tec® e ZERUST® per il settore oil and gas nella seconda metà dell'anno fiscale.
Northern Technologies International (NTIC) reportó resultados desafiantes para el segundo trimestre del año fiscal 2025, con caídas notables en métricas clave. Las ventas netas consolidadas disminuyeron un 8,5% a 19,07 millones de dólares, con ventas industriales de ZERUST® cayendo un 3,7%, ventas de ZERUST® en el sector de petróleo y gas disminuyendo un 28,5%, y ventas de Natur-Tec® bajando un 11,8%. Solo NTIC China mostró crecimiento, aumentando un 8,1% a 3,74 millones de dólares.
Los indicadores de rentabilidad de la empresa se debilitaron, con el margen de beneficio bruto cayendo 440 puntos básicos al 35,6%. El ingreso neto atribuible a NTIC cayó significativamente a 434,000 dólares (0,04 dólares por acción diluida) desde 1,7 millones de dólares (0,17 dólares por acción diluida) en el año anterior. La empresa recibió un pago único de crédito por retención de empleados de 1,14 millones de dólares.
En respuesta a estos desafíos, NTIC anunció una reducción en su dividendo trimestral a 0,01 dólares por acción y se está enfocando en la reducción de deudas. La dirección espera una recuperación en las ventas de Natur-Tec® y ZERUST® en el sector de petróleo y gas en la segunda mitad del año fiscal.
노던 테크놀로지스 인터내셔널(NTIC)는 2025 회계연도 2분기 실적이 도전적이었다고 보고하며 주요 지표에서 눈에 띄는 감소가 있었습니다. 통합 순매출은 8.5% 감소하여 1,907만 달러에 이르렀으며, ZERUST® 산업 매출은 3.7% 감소하고, ZERUST® 석유 및 가스 매출은 28.5% 감소했으며, Natur-Tec® 매출은 11.8% 감소했습니다. NTIC 중국만이 8.1% 성장하여 374만 달러에 도달했습니다.
회사의 수익성 지표는 약화되었으며, 총 이익률은 440bp 하락하여 35.6%가 되었습니다. NTIC에 귀속된 순이익은 전년의 170만 달러(희석 주당 0.17달러)에서 43만 달러(희석 주당 0.04달러)로 크게 감소했습니다. 회사는 114만 달러의 일회성 직원 유지 보상금을 받았습니다.
이러한 어려움에 대응하여 NTIC는 분기 배당금을 주당 0.01달러로 줄이고 부채 감소에 집중하고 있다고 발표했습니다. 경영진은 회계연도 하반기에 Natur-Tec®와 ZERUST® 석유 및 가스 매출이 반등할 것으로 예상하고 있습니다.
Northern Technologies International (NTIC) a rapporté des résultats difficiles pour le deuxième trimestre de l'exercice 2025, avec des baisses notables dans des indicateurs clés. Les ventes nettes consolidées ont diminué de 8,5% pour atteindre 19,07 millions de dollars, avec des ventes industrielles ZERUST® en baisse de 3,7%, des ventes de ZERUST® dans le secteur pétrolier et gazier en chute de 28,5%, et des ventes de Natur-Tec® en déclin de 11,8%. Seule NTIC Chine a montré une croissance, augmentant de 8,1% pour atteindre 3,74 millions de dollars.
Les indicateurs de rentabilité de l'entreprise se sont détériorés, le taux de marge brute ayant chuté de 440 points de base à 35,6%. Le revenu net attribuable à NTIC a chuté de manière significative à 434 000 dollars (0,04 dollar par action diluée) contre 1,7 million de dollars (0,17 dollar par action diluée) l'année précédente. L'entreprise a reçu un paiement unique de crédit de rétention des employés de 1,14 million de dollars.
En réponse à ces défis, NTIC a annoncé une réduction de son dividende trimestriel à 0,01 dollar par action et se concentre sur la réduction de la dette. La direction s'attend à un rebond des ventes de Natur-Tec® et ZERUST® dans le secteur pétrolier et gazier au cours de la seconde moitié de l'exercice.
Northern Technologies International (NTIC) berichtete herausfordernde Ergebnisse für das zweite Quartal des Geschäftsjahres 2025, mit bemerkenswerten Rückgängen in wichtigen Kennzahlen. Die konsolidierten Nettoumsätze sanken um 8,5% auf 19,07 Millionen Dollar, wobei die ZERUST® Industrieverkäufe um 3,7% zurückgingen, die ZERUST® Verkäufe im Öl- und Gassektor um 28,5% fielen und die Natur-Tec® Verkäufe um 11,8% abnahmen. Nur NTIC China verzeichnete ein Wachstum von 8,1% auf 3,74 Millionen Dollar.
Die Rentabilitätskennzahlen des Unternehmens schwächten sich ab, wobei die Bruttogewinnmarge um 440 Basispunkte auf 35,6% fiel. Der Nettogewinn, der NTIC zuzurechnen ist, fiel erheblich auf 434.000 Dollar (0,04 Dollar pro verwässerter Aktie) von 1,7 Millionen Dollar (0,17 Dollar pro verwässerter Aktie) im Vorjahr. Das Unternehmen erhielt eine einmalige Zahlung von 1,14 Millionen Dollar aus dem Mitarbeiterbindungsprogramm.
Als Reaktion auf diese Herausforderungen kündigte NTIC eine Reduzierung der vierteljährlichen Dividende auf 0,01 Dollar pro Aktie an und konzentriert sich auf die Schuldenreduzierung. Das Management erwartet eine Erholung der Verkäufe von Natur-Tec® und ZERUST® im Öl- und Gassektor in der zweiten Hälfte des Geschäftsjahres.
- NTIC China net sales increased 8.1% to $3.735 million
- Cash provided by operating activities was $3.199 million for the six months
- Received $1.14 million Employee Retention Credit payment
- Consolidated net sales decreased 8.5% to $19.07 million
- ZERUST® oil and gas sales declined 28.5% to $1.55 million
- Gross profit margin decreased 440 basis points to 35.6%
- Net income fell to $434,000 from $1.7 million year-over-year
- Joint venture operating income decreased 31.8% to $1.69 million
- Operating expenses increased 2.4% to $8.82 million
- Quarterly dividend reduced to $0.01 per share
Insights
NTIC's Q2 FY2025 results reflect significant deterioration across most financial metrics, with consolidated net sales declining
The company's core businesses showed concerning weakness: ZERUST® industrial sales fell
Particularly worrying is the
Management's decision to slash the quarterly dividend to just
The modest operating cash flow of
MINNEAPOLIS, April 10, 2025 (GLOBE NEWSWIRE) -- Northern Technologies International Corporation (NASDAQ: NTIC), a leading developer of corrosion inhibiting products and services, as well as bio-based and biodegradable polymer resin compounds, today reported its financial results for the second quarter of fiscal 2025.
Second quarter fiscal 2025 financial and operating highlights include (with growth rates on a fiscal quarter year-over-year basis):
- Consolidated net sales decreased
8.5% to$19,072,000 - ZERUST® industrial net sales decreased
3.7% to$12,562,000 - ZERUST® oil and gas net sales decreased
28.5% to$1,549,000 - Natur-Tec® product net sales decreased
11.8% to$4,960,000 - NTIC China net sales increased
8.1% to$3,735,000 - Gross profit, as a percent of net sales, decreased 440 basis points to
35.6% - Joint venture operating income decreased
31.8% to$1,691,000 - Operating expenses increased
2.4% to$8,820,000 - NTIC recognized
$1,140,000 in other income due to the receipt of an Employee Retention Credit (ERC) payment - Net income attributable to NTIC was
$434,000 , compared to$1,701,000 - Net income per diluted share attributable to NTIC was
$0.04 , compared to$0.17 - Cash provided by operating activities was
$3,199,000 for the six months ended February 28, 2025
“NTIC’s second-quarter performance demonstrates the increasing intensity of the headwinds we are currently facing,
including recent changes in U.S. trade and economic policies, the seasonality of our industrial and oil and gas businesses, and the timing of certain Natur-Tec® orders. Despite these current headwinds, we believe we are poised for a rebound in Natur-Tec® and ZERUST® oil and gas sales in the second half of the fiscal year,” said G. Patrick Lynch, President and CEO of NTIC.
“As we navigate this dynamic global environment, we are unwavering in our commitment to delivering long-term value. Our disciplined approach to managing cash, including temporarily adjusting our quarterly dividend to
NTIC’s consolidated net sales decreased
The following tables set forth NTIC’s net sales by product category for the three and six months ended February 28, 2025 and February 29, 2024, by segment:
| Three Months Ended | ||||||||||||||
| February 28, 2025 | % of Net Sales | February 29, 2024 | % of Net Sales | % Change | ||||||||||
| ZERUST® industrial net sales | $ | 12,562,853 | 65.9 | % | $ | 13,050,767 | 62.6 | % | (3.7 | %) | ||||
| ZERUST® oil & gas net sales | 1,549,164 | 8.1 | % | 2,167,328 | 10.4 | % | (28.5 | %) | ||||||
| Total ZERUST® net sales | $ | 14,112,017 | 74.0 | % | $ | 15,218,095 | 73.0 | % | (7.3 | %) | ||||
| Total Natur-Tec® net sales | 4,960,049 | 26.0 | % | 5,624,443 | 27.0 | % | (11.8 | %) | ||||||
| Total net sales | $ | 19,072,066 | 100.0 | % | $ | 20,842,538 | 100.0 | % | (8.5 | %) | ||||
| Six Months Ended | ||||||||||||||
| February 28, 2025 | % of Net Sales | February 29, 2024 | % of Net Sales | % Change | ||||||||||
| ZERUST® industrial net sales | $ | 26,525,105 | 65.6 | % | $ | 26,954,198 | 65.7 | % | (1.6 | %) | ||||
| ZERUST® oil & gas net sales | 3,062,715 | 7.6 | % | 3,669,642 | 8.9 | % | (16.5 | %) | ||||||
| Total ZERUST® net sales | $ | 29,587,820 | 73.2 | % | $ | 30,623,840 | 74.6 | % | (3.4 | %) | ||||
| Total Natur-Tec® net sales | 10,822,639 | 26.8 | % | 10,400,373 | 25.4 | % | 4.1 | % | ||||||
| Total net sales | $ | 40,410,459 | 100.0 | % | $ | 41,024,213 | 100.0 | % | (1.5 | %) | ||||
NTIC’s joint venture operating income decreased
Operating expenses, as a percent of net sales, for the second quarter of fiscal 2025 were
NTIC recognized
Net income attributable to NTIC for the second quarter of fiscal 2025 was
NTIC’s non-GAAP adjusted net income, as set forth in the GAAP reconciliation at the end of this release, was a loss of
NTIC had working capital of
At February 28, 2025, the Company had
Conference Call and Webcast
NTIC will host a conference call today at 8:00 a.m. Central Time to review its results of operations for the second quarter of fiscal year 2025 and its outlook, followed by a question-and-answer session. The conference call will be available to interested parties through a webcast. To join the live call and ask a question, a participant must register using the URL below.
https://register-conf.media-server.com/register/BI0367281b6c4e4339964df49370573727
Once registered, the participant will receive a dial-in number and unique PIN number to access the call.
The audio-only webcast can be accessed at the following link: https://edge.media-server.com/mmc/p/2p6jpccv
A link to the webcast is also available on the Investor Relations section of NTIC’s webpage. Participants are advised to go to the website at least 15 minutes early to register, download and install any necessary audio software. For those unable to participate in the live webcast, a replay of the webcast will be archived and accessible for approximately one year on the Investor Relations section of NTIC’s webpage.
About Northern Technologies International Corporation
Northern Technologies International Corporation develops and markets proprietary, environmentally beneficial products and services in over 65 countries either directly or via a network of subsidiaries, joint ventures, independent distributors and agents. NTIC’s primary business is corrosion prevention marketed mainly under the ZERUST® brand. NTIC has been selling its proprietary ZERUST® rust and corrosion inhibiting products and services to the automotive, electronics, electrical, mechanical, military and retail consumer markets for over 50 years and more recently has also targeted and expanded into the oil and gas industry. NTIC offers worldwide on-site technical consulting for rust and corrosion prevention issues. NTIC’s technical service consultants work directly with the end users of NTIC’s products to analyze their specific needs and develop systems to meet their technical requirements. NTIC also markets and sells a portfolio of bio-based and biodegradable polymer resin compounds and finished products marketed under the Natur-Tec® brand.
Forward-Looking Statements
Statements contained in this release that are not historical information are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include NTIC’s beliefs that it is poised for a strong rebound in Natur-Tec® and ZERUST® oil and gas sales in the second half of the fiscal year, that its disciplined approach to managing cash, including temporarily adjusting its quarterly dividend to
Use of Non-GAAP Financial Measures
In addition to the financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), this release contains non-GAAP financial measures, including adjusted net income attributable to NTIC and adjusted net income attributable to NTIC per diluted share. NTIC’s reasons for use of these measures, reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures and other information are included at the end of this release. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for NTIC’s financial results prepared in accordance with GAAP.
NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS AS OF FEBRUARY 28, 2025 (UNAUDITED)
AND AUGUST 31, 2024 (AUDITED)
| February 28, 2025 | August 31, 2024 | |||||||
| ASSETS | ||||||||
| CURRENT ASSETS: | ||||||||
| Cash and cash equivalents | $ | 5,090,630 | $ | 4,952,184 | ||||
| Receivables: | ||||||||
| Trade, less allowance for credit losses | ||||||||
| of | 15,418,555 | 19,187,079 | ||||||
| Fees for services provided to joint ventures | 957,220 | 1,235,016 | ||||||
| Income taxes | 911,609 | 392,293 | ||||||
| Inventories, net | 14,985,166 | 14,390,844 | ||||||
| Prepaid expenses | 2,261,632 | 1,421,803 | ||||||
| Total current assets | $ | 39,624,812 | 41,579,219 | |||||
| PROPERTY AND EQUIPMENT, NET | $ | 14,814,389 | $ | 16,265,653 | ||||
| OTHER ASSETS: | ||||||||
| Investments in joint ventures | 25,041,302 | 25,397,287 | ||||||
| Deferred income tax, net | 469,295 | 544,464 | ||||||
| Intangible assets, net | 8,666,639 | 5,682,945 | ||||||
| Goodwill | 4,782,376 | 4,782,376 | ||||||
| Operating lease right of use assets | 296,401 | 424,558 | ||||||
| Total other assets | 39,256,013 | 36,831,630 | ||||||
| Total assets | $ | 93,695,214 | $ | 94,676,502 | ||||
| LIABILITIES AND EQUITY | ||||||||
| CURRENT LIABILITIES: | ||||||||
| Line of credit | $ | 5,354,664 | $ | 4,291,608 | ||||
| Term loan | 2,746,121 | 2,820,835 | ||||||
| Accounts payable | 7,255,046 | 6,393,355 | ||||||
| Income taxes payable | 226,087 | 327,781 | ||||||
| Accrued liabilities: | ||||||||
| Payroll and related benefits | 1,779,611 | 3,163,372 | ||||||
| Other | 686,809 | 574,876 | ||||||
| Current portion of operating leases | 160,048 | 325,116 | ||||||
| Total current liabilities | $ | 18,208,386 | $ | 17,896,943 | ||||
| LONG-TERM LIABILITIES: | ||||||||
| Deferred income tax, net | 1,504,796 | 1,504,796 | ||||||
| Operating leases, less current portion | 136,353 | 99,442 | ||||||
| Total long-term liabilities | $ | 1,641,149 | $ | 1,604,238 | ||||
| COMMITMENTS AND CONTINGENCIES | ||||||||
| EQUITY: | ||||||||
| Preferred stock, no par value; authorized 10,000 shares; none issued and outstanding | — | — | ||||||
| Common stock, | ||||||||
| February 28, 2025 and August 31, 2024; issued and outstanding 9,470,507 and 9,466,980, respectively | 189,410 | 189,340 | ||||||
| Additional paid-in capital | 24,334,299 | 23,615,564 | ||||||
| Retained earnings | 53,440,749 | 53,771,211 | ||||||
| Accumulated other comprehensive loss | (8,218,805 | ) | (6,382,124 | ) | ||||
| Stockholders’ equity | 69,745,653 | 71,193,991 | ||||||
| Non-controlling interests | 4,100,026 | 3,981,330 | ||||||
| Total equity | 73,845,679 | 75,175,321 | ||||||
| Total liabilities and equity | $ | 93,695,214 | $ | 94,676,502 | ||||
NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
FOR THE THREE AND SIX MONTHS ENDED FEBRUARY 28, 2025 AND FEBRUARY 29, 2024
| Three Months Ended | Six Months Ended | ||||||||||||||
| February 28, 2025 | February 29, 2024 | February 28, 2025 | February 29, 2024 | ||||||||||||
| NET SALES: | |||||||||||||||
| Net sales | $ | 19,072,066 | $ | 20,842,538 | $ | 40,410,459 | $ | 41,024,213 | |||||||
| Cost of goods sold | 12,276,482 | 12,503,374 | 25,451,922 | 25,350,775 | |||||||||||
| Gross profit | 6,795,584 | 8,339,164 | 14,958,537 | 15,673,438 | |||||||||||
| JOINT VENTURE OPERATIONS: | |||||||||||||||
| Equity in income from joint ventures | 620,730 | 1,177,990 | 1,750,323 | 2,280,231 | |||||||||||
| Fees for services provided to joint ventures | 1,070,263 | 1,303,059 | 2,354,382 | 2,552,017 | |||||||||||
| Total joint venture operations | 1,690,993 | 2,481,049 | 4,104,705 | 4,832,248 | |||||||||||
| OPERATING EXPENSES: | |||||||||||||||
| Selling expenses | 3,872,028 | 4,134,894 | 8,139,682 | 7,820,952 | |||||||||||
| General and administrative expenses | 3,658,583 | 3,236,792 | 7,517,526 | 6,753,853 | |||||||||||
| Research and development expenses | 1,288,899 | 1,242,256 | 2,632,296 | 2,348,177 | |||||||||||
| Total operating expenses | 8,819,510 | 8,613,942 | 18,289,504 | 16,922,982 | |||||||||||
| OPERATING (LOSS) INCOME | (332,933 | ) | 2,206,271 | 773,738 | 3,582,704 | ||||||||||
| INTEREST INCOME | 210,156 | 29,210 | 235,723 | 75,652 | |||||||||||
| INTEREST EXPENSE | (139,155 | ) | (77,758 | ) | (259,375 | ) | (188,896 | ) | |||||||
| OTHER INCOME | 1,139,756 | — | 1,139,756 | — | |||||||||||
| INCOME BEFORE INCOME TAX EXPENSE | 877,824 | 2,157,723 | 1,889,842 | 3,469,460 | |||||||||||
| INCOME TAX EXPENSE | 275,197 | 289,195 | 493,068 | 515,991 | |||||||||||
| NET INCOME | 602,627 | 1,868,528 | 1,396,774 | 2,953,469 | |||||||||||
| NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS | 168,308 | 167,359 | 401,364 | 356,779 | |||||||||||
| NET INCOME ATTRIBUTABLE TO NTIC | $ | 434,319 | $ | 1,701,169 | $ | 995,410 | $ | 2,596,690 | |||||||
| NET INCOME ATTRIBUTABLE TO NTIC PER COMMON SHARE: | |||||||||||||||
| Basic | $ | 0.05 | $ | 0.18 | $ | 0.11 | $ | 0.28 | |||||||
| Diluted | $ | 0.04 | $ | 0.17 | $ | 0.10 | $ | 0.27 | |||||||
| WEIGHTED AVERAGE COMMON SHARES | |||||||||||||||
| ASSUMED OUTSTANDING: | |||||||||||||||
| Basic | 9,470,507 | 9,427,598 | 9,474,034 | 9,427,588 | |||||||||||
| Diluted | 9,753,437 | 9,723,671 | 9,757,350 | 9,715,121 | |||||||||||
CASH DIVIDENDS DECLARED PER COMMON SHARE | $ | 0.07 | $ | 0.07 | $ | 0.14 | $ | 0.14 | |||||||
NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP MEASURES
(UNAUDITED, IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)
The accompanying press release contains certain non-GAAP financial measures, including adjusted net income attributable to NTIC and adjusted net income attributable to NTIC per diluted share, which are not calculated or presented in accordance with accounting principles generally accepted in the United States (GAAP). These non-GAAP financial measures are supplemental information and in addition to the financial measures presented in the accompanying release that are calculated and presented in accordance with GAAP. NTIC uses non-GAAP financial measures as supplemental measures of performance and believes these measures facilitate operating performance comparisons from period to period and company to company by factoring out potential differences caused by non-recurring, unusual or infrequent charges not related to NTIC’s regular, ongoing business. NTIC also believes that the presentation of certain non-GAAP financial measures provides useful information to investors in evaluating the company’s operations, period over period. Such non-GAAP financial measures should not be considered superior to, as a substitute for, or as an alternative to, and should be considered in conjunction with, the GAAP financial measures presented in the release. The non-GAAP financial measures in the accompanying release may differ from similar measures used by other companies.
The following is a reconciliation of NTIC’s reported net income attributable to NTIC and reported net income attributable to NTIC per diluted common share to adjusted net income attributable to NTIC and adjusted net income attributable to NTIC per diluted common share, in each case, as adjusted to exclude the contribution from the receipt of an ERC payment and amortization expense.
| Three Months Ended | Six Months Ended | ||||||||||||
| February 28, | February 29, | February 28, | February 29, | ||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||
| Net income attributable to NTIC, as reported | $ | 434,319 | $ | 1,701,169 | $ | 995,410 | $ | 2,596,690 | |||||
| Adjustments for adjusted net income: | |||||||||||||
| Other income from ERC | (1,139,756 | ) | - | (1,139,756 | ) | - | |||||||
| Bonus expense impact from ERC | 300,000 | - | 300,000 | - | |||||||||
| Amortization expense | 105,783 | 105,783 | 211,566 | 211,566 | |||||||||
| Non-GAAP adjusted net income | $ | (299,654 | ) | $ | 1,806,952 | $ | 367,220 | $ | 2,808,256 | ||||
| Weighted average shares outstanding (diluted) | 9,753,437 | 9,723,671 | 9,757,350 | 9,715,121 | |||||||||
| Diluted net income per share, as reported | 0.04 | 0.17 | 0.10 | 0.27 | |||||||||
| Adjustments for adjusted net income, net of tax impact, per diluted share 1 | (0.09 | ) | 0.01 | (0.06 | ) | 0.02 | |||||||
| Non-GAAP diluted adjusted net income per share | $ | (0.03 | ) | $ | 0.19 | $ | 0.04 | $ | 0.29 | ||||
| 1 Includes adjustments related to the items noted above, net of tax | |||||||||||||
Investor and Media Contact:
Matthew Wolsfeld, CFO
NTIC
(763) 225-6600
FAQ
What caused NTIC's revenue decline in Q2 2025?
How much did NTIC's earnings per share drop in Q2 2025?
What strategic actions is NTIC taking to address current challenges?
How did NTIC's joint venture performance change in Q2 2025?
What was NTIC's cash position at the end of Q2 2025?
