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Northern Technologies International Corp. (NTIC), founded in 1970 and headquartered in Lino Lakes, Minnesota, is a pioneer in the development of environmentally beneficial material science. The company initially focused on oil analyzer instruments before expanding its portfolio to become a global leader in corrosion inhibiting products and services. NTIC operates under two main segments: ZERUST® and Nature-Tec®. The ZERUST® brand is renowned for its corrosion prevention solutions, catering to industries such as automotive, electronics, military, and oil & gas. Additionally, NTIC offers bio-based and biodegradable polymer resin compounds through its Nature-Tec® brand.
NTIC has a robust global presence, reaching over 65 countries via subsidiaries, joint ventures, and independent distributors. The company's success is largely attributed to its innovative products, strategic partnerships, and a dedicated workforce.
Recent achievements include record net sales for the third quarter of fiscal 2023, driven by increased demand for both ZERUST® and Nature-Tec® products. Despite supply chain challenges and economic pressures in European and Asian markets, NTIC has managed to rebuild its gross margins and generate positive operating cash flow. The company's consolidated net sales for fiscal 2023 reached $79,903,000, a 7.7% increase from the previous year.
NTIC's joint venture operating income also saw a significant boost, increasing by 39.6% in the fourth quarter of fiscal 2023. The company remains focused on long-term growth strategies, including geographic expansion and investment in infrastructure. NTIC's strong balance sheet, with substantial working capital and strategic investments, positions it well for continued growth and profitability in fiscal 2024.
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.
Northern Technologies International Corporation (NASDAQ: NTIC) plans to release its fiscal 2023 first quarter financial results on January 12, 2023, before market opening. The company will hold a conference call at 9:00 A.M. ET the same day, featuring insights from Patrick Lynch, President and CEO, and Matt Wolsfeld, CFO, followed by a Q&A session.
NTIC develops environmentally beneficial products, primarily focusing on corrosion prevention under the ZERUST® brand. The company has a global presence in over 60 countries and has expanded its services into the oil and gas sector.
Northern Technologies International Corporation (NASDAQ: NTIC) reported record net sales for fiscal 2022, increasing 31.3% to $74.16 million. Key drivers included a 26.1% rise in Zerust® sales and a 52.7% jump in Natur-Tec® sales. However, NTIC's joint venture operating income fell by 21.9%, with China sales decreasing by 9.2%. Net income attributable to NTIC rose slightly to $6.33 million, with diluted earnings per share at $0.66. The company maintains a solid balance sheet, ending the year with $5.33 million in cash, despite facing supply chain challenges.
Northern Technologies International Corporation (NASDAQ: NTIC) announced that CFO Matthew Wolsfeld will present at the Southwest IDEAS Investor Conference on November 16, 2022, at the Westin Dallas Downtown, Texas. The presentation starts at 1:30 PM and can be accessed via the conference website. NTIC specializes in corrosion prevention products and services marketed mainly under the ZERUST® brand, with a strong presence in various sectors including automotive and oil and gas. The IDEAS Investor Conference aims to connect quality companies with investment professionals.
Northern Technologies International Corporation (NASDAQ: NTIC) announced plans to release its fiscal 2022 fourth quarter financial results on November 14, 2022, before market opening. A conference call with management, featuring President Patrick Lynch and CFO Matt Wolsfeld, will follow at 9:00 a.m. ET to discuss the results and future outlook. Investors can register for the call and access it via a provided link. NTIC, known for its ZERUST® corrosion prevention products, operates in over 60 countries and has recently expanded into the oil and gas sector.
Northern Technologies International Corporation (NASDAQ: NTIC) announced a quarterly cash dividend of $0.07 per share, payable on November 16, 2022, to shareholders of record by November 3, 2022. NTIC specializes in corrosion inhibiting products and bio-based polymer resin compounds, operating in over 60 countries. The company has been a leader in corrosion prevention for over 45 years, targeting markets such as automotive and oil and gas. Their proprietary products include the ZERUST® brand for rust and corrosion inhibition, and Natur-Tec® for biodegradable products.
Northern Technologies International Corporation (NTIC) has secured a significant contract with BP Exploration to provide chemical corrosion protection services for 12 storage tanks through December 2025. This contract marks the largest for NTIC's ZERUST Vapor Corrosion Inhibitor solutions to date, building on their previous installations for BP in Georgia, Azerbaijan, and Turkey. NTIC anticipates further growth and installations worldwide, bolstered by favorable technical reports validating their technology.
Northern Technologies International Corporation (NASDAQ: NTIC) has announced a cash dividend of $0.07 per share, payable on August 17, 2022, to shareholders on record by August 3, 2022. This declaration reflects the company's commitment to shareholder returns amidst its focus on developing corrosion inhibiting products and environmentally friendly polymer compounds. NTIC operates in over 60 countries and has expanded its focus to include the oil and gas sector while continuing its successful ZERUST® brand offerings.
Northern Technologies International Corporation (NASDAQ: NTIC) reported robust third-quarter fiscal 2022 results, achieving record consolidated net sales of $18.965 million, a 23.0% increase year-over-year. Key highlights include a 16.7% rise in ZERUST® net sales and a notable 47.0% growth in oil and gas sales. However, net income decreased to $1 million from $2.054 million in the prior year. Operating expenses improved to 37.5% of net sales. NTIC’s outlook remains cautiously optimistic with an anticipated rebound in profitability, especially in China.
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