NTIC reports record FY2024 sales $85.1M; net income up 86% to $5.4M

NORTHERN TECHNOLOGIES INTERNATIONAL CORP

Full-year net sales $85,060,000 (+6.5% YoY); net income $5,409,000 ($0.55 diluted) vs $2,912,000 ($0.30) prior year.
Q4 net sales $23,349,000 (+12.7% YoY); Q4 net income $1,836,000 ($0.19 diluted) vs $939,000 ($0.10).
ZERUST oil & gas sales record $9,229,000 (+18.3%); Natur-Tec record $21,967,000 (+20.9%).
Joint venture operating income fell 18.6% to $9,475,000, partly due to a $2M prior-year China liquidation gain.
Gross profit margin improved 490 bps to 39.7%; working capital $23.7M; non-GAAP adjusted EPS $0.59 vs $0.27.

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