NTIC Q3 FY2023 net sales up 10.6% to record $20.97M; net income +52.5%

NORTHERN TECHNOLOGIES INTERNATIONAL CORP

2023-Q3 EPS reported $0.30 revenue$59,193,317

Consolidated net sales rose 10.6% YoY to a quarterly record $20.97M.
ZERUST oil & gas net sales surged 32.7% to record $2.0M; Natur-Tec up 7.8%.
Net income attributable to NTIC increased 52.5% to $1.53M ($0.16 diluted EPS).
Non-GAAP adjusted diluted EPS was $0.17 vs $0.12 prior year.
Operating cash flow $1.30M; working capital $23.7M as of May 31, 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

NORTHERN TECHNOLOGIES INTERNATIONAL CORP reported third quarter of fiscal 2023 results: revenue $20,970,000, net income $1,526,000, EPS $0.16 per diluted share.

Period: third quarter of fiscal 2023
Revenue: $20,970,000
Net income: $1,526,000
EPS: $0.16 per diluted share
Result: reported results

Exact text from the filing

Third quarter fiscal 2023 highlights include (with growth rates compared to third quarter of fiscal 2022): Consolidated net sales increased 10.6% to a quarterly record of $20,970,000 ZERUST ® industrial net sales increased 9.0% to a quarterly record of $14,103,000 ZERUST ® oil and gas net sales increased 32.7% to a quarterly record of $1,997,000 Natur-Tec ® product net sales increased 7.8% to a quarterly record of $4,869,000 NTIC China net sales decreased 8.4% to $3,318,000 Joint venture operating income increased 0.5% to $2,708,000 Net income attributable to NTIC increased 52.5% to $1,526,000, compared to $1,000,000 during prior year period Net income per diluted share attributable to NTIC was $0.16, compared to $0.11 during prior year period

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Source: SEC EDGAR

accession 0001171843-23-004472

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