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Overview of Northern Technologies International Corporation (NTIC)
Northern Technologies International Corporation (NTIC) is a United States-based enterprise with an extensive history of utilizing material science to develop corrosion prevention and environmentally beneficial products for industrial and consumer applications. From its inception in 1970, the company has evolved from its roots in oil analyzer instruments into a diversified global provider of clean and green technologies.
Business Segments and Core Offerings
NTIC operates through two main segments:
- ZERUST Products and Services: This segment is dedicated to corrosion inhibition and control, offering a robust portfolio that addresses the challenges faced by industries such as automotive, electronics, electrical, mechanical, military, retail consumer markets, and oil and gas. NTIC provides on-site technical consulting and customized solutions for corrosion prevention that cater to the specific needs of its clients.
- Natur-Tec Products: Focused on sustainability, this segment markets a range of bio-based and biodegradable polymer resin compounds along with finished products. These offerings are designed with environmental impact in mind, serving niche markets that prioritize compostable and compost-friendly materials.
Global Reach and Operational Excellence
NTIC’s business model leverages a global network of subsidiaries, joint venture partners, independent distributors, and agents across more than 65 countries. By integrating expertise from diverse markets, the company is able to tailor its technical service consulting and product innovation to meet regional demands. This strategy not only reinforces the company’s market position but also underpins its reputation for perseverance and integrity in commercializing clean technologies for niche markets.
Market Position and Competitive Landscape
Operating in the industries of corrosion control and sustainable materials, NTIC distinguishes itself through the depth of its technical knowledge, extensive experience, and global partnerships. The company’s long-standing commitment to developing innovative solutions helps it address complex challenges that customers face in harsh industrial environments. Its dual brand approach allows NTIC to diversify its revenue streams while meeting the specific needs of different market segments.
Technical Expertise and Industry Integration
The company showcases a nuanced understanding of industrial processes by combining on-site technical expertise with advanced material science innovations. This integration enables NTIC to provide practical, science-based solutions that improve operational efficiency and asset longevity, reinforcing its role as a trusted partner in corrosion management and sustainable product development.
Summary
In summary, Northern Technologies International Corporation stands out as a knowledgeable, agile, and technically sophisticated player in the industrial and environmental technology sectors. Its strategic focus on corrosion prevention and biodegradable materials, along with a comprehensive network of global partnerships, underscores its enduring commitment to quality, performance, and environmental stewardship.
Northern Technologies International Corporation (NASDAQ: NTIC) announced a quarterly cash dividend of $0.07 per share, payable on May 17, 2023, to shareholders on record by May 3, 2023. The corporation specializes in corrosion prevention and bio-based polymer resins, offering its products and services globally, particularly under the ZERUST® and Natur-Tec® brands. The company serves various markets, including automotive, electronics, and oil and gas, providing technical consulting for corrosion issues for almost 50 years.
Northern Technologies International Corporation (NASDAQ: NTIC) reported its financial results for Q2 fiscal 2023, marking a 9.1% increase in consolidated net sales to a record $18,271,000. ZERUST® net sales rose 10.2% to $14,459,000, with significant growth in the oil and gas sector, which spiked 212.4% to $1,805,000. However, NTIC China net sales fell 31.0% to $2,872,000. Net income attributable to NTIC jumped to $885,000 or $0.09 per diluted share, compared to $183,000 last year. Overall, operating expenses increased to 41.0% of net sales, influenced by higher personnel costs. NTIC anticipates improved sales from NTIC China and Natur-Tec in the upcoming quarters, projecting a strong fiscal 2023 finish.
Northern Technologies International Corporation (NTIC) will release its fiscal 2023 second quarter financial results on April 13, 2023, before market open. The company invites investors and analysts to join a conference call at 9:00 a.m. ET on the same day for a review of the results and outlook, followed by a Q&A session. Participants can register through a provided URL to receive dial-in details. NTIC is known for its environmentally beneficial products, primarily focused on corrosion prevention under the ZERUST® brand, servicing over 65 countries. The company also offers bio-based products under the Natur-Tec® brand. Detailed results and presentations will be available on NTIC’s Investor Relations webpage.
Northern Technologies International Corporation (NASDAQ: NTIC) has declared a quarterly cash dividend of $0.07 per share, scheduled for payment on February 15, 2023, to shareholders on record as of February 1, 2023. The company specializes in corrosion prevention products and bio-based polymer resin compounds, marketed primarily under the ZERUST® and Natur-Tec® brands. With over 45 years of expertise, NTIC operates in over 60 countries, targeting various sectors, including automotive and oil and gas. The firm also provides technical consulting services for corrosion prevention, enhancing its product offerings.
Northern Technologies International Corporation (NASDAQ: NTIC) reported its fiscal Q1 2023 results, showing a 9.7% increase in consolidated net sales to a record $19,953,000. Key highlights include a 66.9% increase in ZERUST® Oil & Gas net sales and a 21.6% increase in Natur-Tec product sales. However, net income fell to $502,000 ($0.05 per diluted share) from $4,494,000 ($0.46 per diluted share) year-over-year. Despite challenges in joint ventures, the company remains optimistic about achieving record sales in 2023, focusing on controlling expenses and enhancing profitability.
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