NTIC Q2 fiscal 2022 record sales $16.75M but net income drops to $183k from $1.3M YoY

NORTHERN TECHNOLOGIES INTERNATIONAL CORP

2022-Q2 EPS reported $0.48 revenue$34,942,052

Consolidated net sales record $16.75M, up 31% YoY, driven by higher demand and Zerust India acquisition.
Net income attributable to NTIC fell to $183k ($0.02 diluted EPS) vs $1.313M ($0.13) last year; adjusted EPS $0.04.
Joint venture operating income down 35.9% to $2.17M on higher raw material, freight, and labor costs.
Zerust India acquisition (remaining 50% for $6.25M) contributed $2.23M in Q2 sales; consolidated since Sep 1, 2021.
Cash $7.5M, working capital $25.3M; management expects H2 improvement from pricing adjustments.

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