NTIC Q3 FY2021 net sales hit record $15.4M; net income of $2.1M vs loss year ago

NORTHERN TECHNOLOGIES INTERNATIONAL CORP

2021-Q3 EPS reported $0.47 revenue$40,980,518

Consolidated net sales up 58.2% YoY to $15.4M; net income of $2.1M ($0.21 diluted EPS) vs net loss of $965,000 ($0.11 loss per share).
ZERUST industrial net sales +61.4% to $10.1M; oil & gas +141.0% to $1.0M; Natur-Tec +27.3% to $3.0M.
Joint venture operating income rose 114.6% to $3.6M; JV net sales up 70.2% to $32.0M.
Balance sheet: no debt, cash and securities $11.0M, working capital $29.7M.
Management expects continued YoY sales and earnings growth in Q4 fiscal 2021.

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