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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Nov. 30, 2023
Nov. 30, 2022
NET SALES:    
Net sales $ 20,181,675 $ 19,952,766
Cost of goods sold 12,847,401 13,599,642
Gross profit 7,334,274 6,353,124
JOINT VENTURE OPERATIONS:    
Equity in income from joint ventures 1,102,241 1,189,404
Fees for services provided to joint ventures 1,248,958 1,181,805
Total joint venture operations 2,351,199 2,371,209
OPERATING EXPENSES:    
Selling expenses 3,686,058 3,507,434
General and administrative expenses 3,517,061 3,130,599
Research and development expenses 1,105,921 1,256,724
Total operating expenses 8,309,040 7,894,757
OPERATING INCOME 1,376,433 829,576
INTEREST INCOME 46,442 6,168
INTEREST EXPENSE (111,138) (91,331)
INCOME BEFORE INCOME TAX EXPENSE 1,311,737 744,413
INCOME TAX EXPENSE 226,796 110,733
NET INCOME 1,084,941 633,680
NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS 189,420 131,438
NET INCOME ATTRIBUTABLE TO NTIC $ 895,521 $ 502,242
NET INCOME ATTRIBUTABLE TO NTIC PER COMMON SHARE:    
Basic (in dollars per share) $ 0.09 $ 0.05
Diluted (in dollars per share) $ 0.09 $ 0.05
WEIGHTED AVERAGE COMMON SHARES ASSUMED OUTSTANDING:    
Basic (in shares) 9,427,588 9,317,680
Diluted (in shares) 9,706,581 9,718,931
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0.07 $ 0.07