XML 20 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Aug. 31, 2017
Aug. 31, 2016
NET SALES:    
Net sales, excluding joint ventures $ 36,346,645 $ 30,211,660
Net sales, to joint ventures 3,222,478 2,721,905
Total net sales 39,569,123 32,933,565
Cost of goods sold 26,316,511 22,320,156
Gross profit 13,252,612 10,613,409
JOINT VENTURE OPERATIONS:    
Equity in income from joint ventures 5,898,908 4,743,831
Fees for services provided to joint ventures 5,452,687 5,137,710
Total joint venture operations 11,351,595 9,881,541
OPERATING EXPENSES:    
Selling expenses 9,283,310 6,255,353
General and administrative expenses 7,807,563 8,232,369
Research and development expenses 2,912,393 4,724,596
Total operating expenses 20,003,266 19,212,318
OPERATING INCOME 4,600,941 1,282,632
INTEREST INCOME 43,539 42,115
INTEREST EXPENSE (20,382) (13,261)
IMPAIRMENT ON INVESTMENT AT CARRYING VALUE (Note 7) (1,883,668)
INCOME (LOSS) BEFORE INCOME TAX EXPENSE 4,624,098 (572,182)
INCOME TAX EXPENSE 699,519 626,120
NET INCOME (LOSS) 3,924,579 (1,198,302)
NET INCOME (LOSS) ATTRIBUTABLE TO NON-CONTROLLING INTERESTS 502,453 (330,788)
NET INCOME (LOSS) ATTRIBUTABLE TO NTIC $ 3,422,126 $ (867,514)
NET INCOME (LOSS) ATTRIBUTABLE TO NTIC PER COMMON SHARE:    
Basic (in dollars per share) $ 0.76 $ (0.19)
Diluted (in dollars per share) $ 0.75 $ (0.19)
WEIGHTED AVERAGE COMMON SHARES    
Basic (in shares) 4,528,611 4,537,504
Diluted (in shares) 4,577,359 4,537,504