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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 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.
Northern Technologies International Corporation (NTIC) plans to release its fiscal 2022 third quarter financial results on July 7, 2022, before market opening. A conference call with management will also take place the same day at 9:00 a.m. ET. Patrick Lynch, the CEO, and Matt Wolsfeld, the CFO, will discuss the results and provide an outlook for the company. The call will be open for questions after the presentation. Interested parties can register for the call and access the webcast via NTIC’s Investor Relations website.
Northern Technologies International Corporation (NASDAQ: NTIC) has declared a quarterly cash dividend of $0.07 per share. This dividend is payable on May 18, 2022, to shareholders of record as of May 4, 2022. NTIC specializes in corrosion inhibiting products and bio-based materials, operating in over 60 countries for over 45 years. Their notable ZERUST® brand serves various markets including automotive and oil & gas, providing technical consulting services alongside their product offerings.
Northern Technologies International Corporation (NASDAQ: NTIC) reported a 31% increase in net sales for Q2 FY2022, reaching $16.75 million, driven by robust demand across product categories. Although Zerust® sales grew 27.6% to $13.12 million, net income fell to $183,000 from $1.31 million year-over-year, with EPS declining from $0.13 to $0.02. Adjusted net income stood at $392,000 or $0.04 per share. The company is optimistic about H2 FY2022 due to improved pricing strategies to offset rising raw material and labor costs.
Northern Technologies International Corporation (NASDAQ: NTIC) will release its fiscal 2022 second quarter financial results on April 7, 2022, before the market opens. A conference call is scheduled for the same day at 9:00 a.m. Eastern Time, featuring CEO Patrick Lynch and CFO Matt Wolsfeld discussing the results and future outlook. Investors can access the live audio webcast and participate in a Q&A session. NTIC specializes in corrosion prevention products marketed under the ZERUST® brand and operates in over 60 countries.
Northern Technologies International Corporation (NASDAQ: NTIC) announced a quarterly cash dividend of $0.07 per share, payable on February 16, 2022, to shareholders of record by February 2, 2022. NTIC specializes in corrosion prevention and offers bio-based and biodegradable polymer resins, operating in over 60 countries with a focus on markets such as automotive, electronics, and oil and gas. The company has a history of more than 40 years in corrosion inhibiting products, primarily marketed under the ZERUST® brand.
Northern Technologies International Corporation (NASDAQ: NTIC) reported a record net sales of $18.19 million for Q1 fiscal 2022, a 42.4% year-over-year increase. ZERUST® sales rose 41.1% to $14.42 million, with significant growth in oil and gas sectors. However, net income per diluted share increased to $0.46, up from $0.13, influenced by a one-time gain related to the acquisition of Zerust India. Operating expenses rose to $7.07 million, but improved as a percentage of sales. Higher raw material and labor costs impacted profitability. The balance sheet remains robust with $8.05 million in cash and equivalents.
Northern Technologies International Corporation (NASDAQ: NTIC) will release its fiscal 2022 first quarter financial results on January 6, 2022, before market opening. A conference call led by CEO Patrick Lynch and CFO Matt Wolsfeld is scheduled for the same day at 9:00 a.m. ET to discuss the results and outlook, followed by a Q&A session. Investors can access the live audio webcast on NTIC's Investor Relations webpage. The company focuses on environmentally beneficial products, primarily in corrosion prevention under the ZERUST® brand.
Northern Technologies International Corporation (NASDAQ: NTIC) reported strong financial results for the fourth quarter and fiscal year ended August 31, 2021. Consolidated net sales rose 18.6% year-over-year to $56.49 million, with a notable 54.7% increase in Q4 sales. ZERUST® product sales surged 32.1% to $45.55 million. Net income attributed to NTIC reached $6.28 million, translating to $0.64 per share, reversing last year’s losses. The company maintains a strong balance sheet with no debt and $7.68 million in cash, signaling a positive outlook for fiscal 2022.
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