NTIC Q1 fiscal 2024 net income up 78%, record sales $20.2M

NORTHERN TECHNOLOGIES INTERNATIONAL CORP

2024-Q1 EPS reported $0.09 revenue$20,181,675

Consolidated net sales rose 1.1% to a first-quarter record of $20.18M.
Gross margin improved 450 bps to 36.3%; net income attributable to NTIC was $896k ($0.09/diluted share).
Non-GAAP adjusted net income was $1.0M ($0.10/diluted) vs $608k ($0.06) a year ago.
ZERUST industrial sales hit a Q1 record of $13.9M; Natur-Tec sales also a record at $4.78M.
Management expects top-line growth across all product categories in fiscal 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NORTHERN TECHNOLOGIES INTERNATIONAL CORP reported first quarter of fiscal 2024 results: revenue $20,182,000, net income $896,000, EPS $0.09 per diluted share.

Period: first quarter of fiscal 2024
Revenue: $20,182,000
Net income: $896,000
EPS: $0.09 per diluted share
Result: reported results

Exact text from the filing

2024 financial and operating highlights include (with growth rates on a fiscal quarter year-over-year basis): Consolidated net sales increased 1.1% to a first quarter record of $20,182,000 ZERUST ® industrial net sales increased 1.1% to a first quarter record of $13,903,000 ZERUST ® oil and gas net sales decreased 7.4% to $1,502,000 Natur-Tec ® product net sales

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Source: SEC EDGAR

accession 0001171843-24-000208

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