Northern Technologies International Corporation (NASDAQ: NTIC), a
leading developer of corrosion inhibiting products and services, as
well as bio-based and biodegradable polymer resin compounds, today
reported its financial results for the third quarter of fiscal
2023.
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
- Consolidated balance sheet as of May 31, 2023 is strong with
working capital of $23,739,000
“Positive momentum across virtually every segment of our
business is propelling us forward, as we have capitalized on
favorable global demand trends for our corrosion inhibiting
products and services and our bioplastic solutions. Therefore, net
sales for the quarter ended May 31, 2023 set a new quarterly
record, which included record top-line results across our ZERUST®
Industrial, ZERUST® oil and gas, and Natur-Tec® segments,” said G.
Patrick Lynch, President and CEO of NTIC.
Mr. Lynch continued, “Our third quarter results also reflect the
success of the countermeasures we’ve put in place against supply
chain issues, significant raw material cost increases, and
challenges across our European and Asian markets. Consequently, we
have made considerable progress rebuilding our gross margins on
both a sequential and year-over-year basis to 36.7%. In addition,
for the three months ended May 31, 2023, we generated $1,301,000 of
operating cash flow driven primarily with stronger profitability
and waning inventory levels. We believe we remain well positioned
for a strong finish to fiscal 2023 and we are excited by the
direction our business is headed as a result of the successful
long-term growth strategies we are pursuing,” concluded Mr.
Lynch.
NTIC’s consolidated net sales increased 10.6% to
$20,970,000 during the three months ended May 31, 2023, compared to
$18,965,000 for the three months ended May 31, 2022. The
year-over-year increase in consolidated net sales was primarily a
result of sales growth across all the Company’s market segments due
to higher customer demand and targeted price increases on certain
products. For the nine months ended May 31, 2023,
consolidated net sales increased 9.8% to $59,193,000, compared to
$53,907,000 for the same period last fiscal year.
The following tables set forth NTIC’s net sales by product
category for the three and nine months ended May 31, 2023 and 2022,
by segment:
|
Three Months Ended May 31, |
|
|
2023 |
% of Net Sales |
|
2022 |
% of Net Sales |
% Change |
ZERUST® industrial net sales |
$ |
14,103,292 |
67.2% |
$ |
12,941,651 |
68.3% |
9.0% |
ZERUST® oil & gas net
sales |
|
1,997,382 |
9.6% |
|
1,505,181 |
7.9% |
32.7% |
Total ZERUST® net sales |
$ |
16,100,674 |
76.8% |
$ |
14,446,832 |
76.2% |
11.4% |
Total Natur-Tec® net sales |
|
4,869,052 |
23.2% |
|
4,518,089 |
23.8% |
7.8% |
Total net sales |
$ |
20,969,726 |
100.0% |
$ |
18,964,921 |
100.0% |
10.6% |
|
Nine Months Ended May 31 |
|
|
2023 |
% of Net Sales |
|
2022 |
% of Net Sales |
% Change |
ZERUST® industrial net sales |
$ |
40,504,908 |
68.4% |
$ |
38,933,476 |
72.2% |
4.0% |
ZERUST® oil & gas net
sales |
|
5,424,514 |
9.2% |
|
3,054,918 |
5.7% |
77.6% |
Total ZERUST® net sales |
$ |
45,929,422 |
77.6% |
$ |
41,988,394 |
77.9% |
9.4% |
Total Natur-Tec® net sales |
|
13,263,895 |
22.4% |
|
11,918,579 |
22.1% |
11.3% |
Total net sales |
$ |
59,193,317 |
100.0% |
$ |
53,906,973 |
100.0% |
9.8% |
NTIC’s joint venture operating income increased
0.5% to $2,708,000 during the three months ended May 31, 2023,
compared to joint venture operating income of $2,695,000 during the
three months ended May 31, 2022. Net sales of NTIC’s joint
ventures, which are not consolidated with NTIC’s financial results,
decreased 1.1% to $26,313,000 during the three months ended May 31,
2023, compared to $26,594,000 for the three months ended May 31,
2022. Year-to-date, NTIC’s joint venture operating income decreased
0.5% to $7,461,000, compared to joint venture operating income of
$7,498,000 during the nine months ended May 31, 2022. Net sales of
NTIC’s joint ventures decreased 2.2% to $76,525,000 during the nine
months ended May 31, 2023, compared to $78,219,000 for the nine
months ended May 31, 2022.
Operating expenses, as a percent of net sales,
for the third quarter of fiscal 2023 were 38.3%, compared to 37.5%
for the same period last fiscal year. Year-to-date, operating
expenses, as a percent of net sales, were 39.6%, compared to 38.8%
for the same period last fiscal year. Higher year-over-year
operating expenses for the three and nine-months ended May 31, 2023
were driven primarily by increased personnel expenses and other
inflationary increases in expenses. Additionally, NTIC
is now consolidating the majority owned subsidiary formed to assume
the operations of a former joint venture in Taiwan compared to
prior periods.
Net income attributable to NTIC for the third
quarter of fiscal 2023 of $1,526,000, or $0.16 per diluted share,
compared to net income of $1,000,000, or $0.11 per diluted share,
for the same period last fiscal year. For the nine months ended May
31, 2023, net income attributable to NTIC decreased to $2,913,000,
or $0.30 per diluted share, from $5,677,000, or $0.59 per diluted
share, for the same period last fiscal year.
NTIC’s non-GAAP adjusted net income, as set
forth in the GAAP reconciliation at the end of this release, was
$1,631,000, or $0.17 per diluted share, for the third quarter of
fiscal 2023, compared to $1,106,000, or $0.12 per diluted share,
for the same quarter last fiscal year. Year-to-date, NTIC’s
non-GAAP adjusted net income, as set forth in the GAAP
reconciliation at the end of this release, was $3,230,000, or $0.33
per diluted share, compared to $2,279,000, or $0.24 per diluted
share, for the same quarter last fiscal year.
NTIC’s consolidated balance sheet remains
strong, with working capital of $23,739,000 as of May 31, 2023,
including $6,195,000 in cash and cash equivalents, and an
outstanding revolving line of credit and term loan balance of
$8,013,000 compared to $23,169,000 of working capital as of August
31, 2022, including $5,334,000 in cash and cash equivalents and
$6,000 in available for sale securities, and $5,900,000 outstanding
line of credit balance.
At May 31, 2023, the Company had $22,855,000 of
investments in joint ventures, of which over $12,100,000, or 53.2%,
is cash, with the remaining balance primarily invested in other
working capital.
Conference Call and Webcast
NTIC will host a conference call today at 8:00
a.m. Central Time to review its results of operations for the third
quarter of fiscal 2023 and its outlook, followed by a
question-and-answer session. The conference call will be available
to interested parties through a webcast. To join the live call and
ask a question, a participant must register using the URL
below.
https://register.vevent.com/register/BIc8dcf004fd0c4e4188d77930f579b8cf
Once registered, the participant will receive a
dial-in number and unique PIN number to access the call.
The audio-only webcast can be accessed at the
following link: https://edge.media-server.com/mmc/p/3o4wxyqy. A
link to the webcast is also available on the Investor Relations
section of NTIC’s webpage. Participants are advised to go to the
website at least 15 minutes early to register, download and install
any necessary audio software. For those unable to participate in
the live webcast, a replay of the webcast will be archived and
accessible for approximately one year on the Investor Relations
section of NTIC’s webpage.
About Northern Technologies
International Corporation
Northern Technologies International Corporation develops and
markets proprietary, environmentally beneficial products and
services in over 65 countries either directly or via a network of
subsidiaries, joint ventures, independent distributors and agents.
NTIC’s primary business is corrosion prevention marketed mainly
under the ZERUST® brand. NTIC has been selling its proprietary
ZERUST® rust and corrosion inhibiting products and services to the
automotive, electronics, electrical, mechanical, military and
retail consumer markets for almost 50 years and more recently has
also targeted and expanded into the oil and gas industry. NTIC
offers worldwide on-site technical consulting for rust and
corrosion prevention issues. NTIC’s technical service consultants
work directly with the end users of NTIC’s products to analyze
their specific needs and develop systems to meet their technical
requirements. NTIC also markets and sells a portfolio of bio-based
and biodegradable polymer resin compounds and finished products
marketed under the Natur-Tec® brand.
Investor and Media Contact:Matthew Wolsfeld,
CFONTIC(763) 225-6600
Forward-Looking Statements
Statements contained in this release that are not
historical information are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Such statements include NTIC’s expectations that it believes it is
well positioned for a strong finish to fiscal 2023 and other
statements that can be identified by words such as “believes,”
“continues,” “expects,” “anticipates,” “intends,” “potential,”
“outlook,” “will,” “may,” “would,” “should,” “guidance” or words of
similar meaning, and the use of future dates. Such forward-looking
statements are based upon the current beliefs and expectations of
NTIC’s management and are inherently subject to risks and
uncertainties that could cause actual results to differ materially
from those projected or implied. Such potential risks and
uncertainties include, but are not limited to, in no particular
order: the health of the U.S. and worldwide economies, including in
particular the U.S. automotive industry and its evolution towards
electric vehicles; the effect of economic uncertainty, recessionary
indicators, inflation, increased interest rates and turmoil in the
global credit, financial and banking markets or perception thereof;
effect of supply chain disruptions; effect of COVID-19; dependence
on joint ventures, relationships with joint venture partners and
their success, including fees and dividend distributions; risks
associated with international operations, including NTIC China,
exposure to exchange rate fluctuations, tariffs and trade disputes;
effect of economic slowdown and political unrest, including the
Russia and Ukraine war; the level of growth in NTIC’s markets;
NTIC’s investments in research and development efforts; acceptance
of existing and new products; timing of purchase orders under
supply contracts; variability in sales to oil and gas customers and
effect on quarterly financial results; increased competition; costs
and effects of complying with changes in tax, fiscal, government
and other regulatory policies, and rules relating to environmental,
health and safety matters; and NTIC’s reliance on its intellectual
property rights and the absence of infringement of the intellectual
property rights of others. More detailed information on these and
additional factors which could affect NTIC’s operating and
financial results is described in NTIC’s filings with the
Securities and Exchange Commission, including its annual report on
Form 10-K for the fiscal year ended August 31, 2022 and subsequent
quarterly reports on Form 10-Q. NTIC urges all interested parties
to read these reports to gain a better understanding of the many
business and other risks that it faces. Additionally, NTIC
undertakes no obligation to publicly release the results of any
revisions to these forward-looking statements, which may be made to
reflect events or circumstances occurring after the date hereof or
to reflect the occurrence of unanticipated events.
Use of Non-GAAP Financial
Measures
In addition to the financial measures prepared in
accordance with U.S. generally accepted accounting principles
(GAAP), this release contains non-GAAP financial measures,
including adjusted net income attributable to NTIC and adjusted net
income attributable to NTIC per diluted share. NTIC’s reasons for
use of these measures, reconciliations of these non-GAAP financial
measures to the most directly comparable GAAP measures and other
information are included at the end of this release. Non-GAAP
financial measures have limitations as analytical tools and should
not be considered in isolation or as a substitute for NTIC’s
financial results prepared in accordance with GAAP.
NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION AND
SUBSIDIARIES CONSOLIDATED BALANCE SHEETS AS OF MAY
31, 2023 (UNAUDITED) AND AUGUST
31, 2022 (AUDITED) |
|
|
May 31, 2023 |
|
August 31, 2022 |
ASSETS |
|
|
|
CURRENT ASSETS: |
|
|
|
|
Cash and cash equivalents |
$ |
6,195,194 |
|
|
$ |
5,333,890 |
|
|
Available for sale securities |
|
— |
|
|
|
5,590 |
|
|
Receivables: |
|
|
|
|
Trade, excluding joint ventures, less allowance for doubtful
accounts |
|
|
|
|
of $439,000 as of May 31, 2023 and August 31, 2022 |
|
15,311,650 |
|
|
|
14,136,930 |
|
|
Trade, joint ventures |
|
668,847 |
|
|
|
697,861 |
|
|
Fees for services provided to joint ventures |
|
1,226,010 |
|
|
|
1,765,117 |
|
|
Income taxes |
|
155,828 |
|
|
|
— |
|
|
Inventories |
|
13,900,812 |
|
|
|
16,341,729 |
|
|
Prepaid expenses |
|
1,831,566 |
|
|
|
1,953,764 |
|
|
Total current assets |
$ |
39,289,907 |
|
|
$ |
40,234,881 |
|
|
|
|
|
|
PROPERTY AND EQUIPMENT, NET |
$ |
13,810,930 |
|
|
$ |
12,170,493 |
|
OTHER ASSETS: |
|
|
|
|
Investments in joint ventures |
|
22,855,448 |
|
|
|
21,814,754 |
|
|
Intangible asset, net |
|
6,281,625 |
|
|
|
6,633,878 |
|
|
Goodwill |
|
4,782,376 |
|
|
|
4,782,376 |
|
|
Operating lease right of use asset |
|
293,137 |
|
|
|
557,571 |
|
|
Total other assets |
|
34,212,586 |
|
|
|
33,788,579 |
|
|
Total assets |
$ |
87,313,423 |
|
|
$ |
86,193,953 |
|
|
|
|
|
|
LIABILITIES AND EQUITY |
|
|
|
CURRENT LIABILITIES: |
|
|
|
|
Accounts payable |
$ |
4,687,675 |
|
|
$ |
7,796,494 |
|
|
Term loan |
|
2,812,504 |
|
|
|
— |
|
|
Line of credit |
|
5,200,000 |
|
|
|
5,900,000 |
|
|
Income taxes payable |
|
—- |
|
|
|
30,742 |
|
|
Accrued liabilities: |
|
|
|
|
Payroll and related benefits |
|
2,035,785 |
|
|
|
2,297,543 |
|
|
Other |
|
734,414 |
|
|
|
667,292 |
|
|
Current portion of operating leases |
|
80,183 |
|
|
|
373,330 |
|
|
Total current liabilities |
$ |
15,550,561 |
|
|
$ |
17,065,401 |
|
LONG-TERM LIABILITIES: |
|
|
|
Deferred income tax, net |
|
1,618,960 |
|
|
|
1,700,015 |
|
|
Operating leases, less current portion |
|
212,954 |
|
|
|
184,241 |
|
|
Total long-term liabilities |
$ |
1,831,914 |
|
|
$ |
1,884,256 |
|
|
|
|
|
|
COMMITMENTS AND CONTINGENCIES |
|
|
|
|
|
|
|
|
EQUITY: |
|
|
|
|
Preferred stock, no par value; authorized 10,000 shares; none
issued and outstanding |
|
— |
|
|
|
— |
|
|
Common stock, $0.02 par value per share; authorized 15,000,000
shares as of |
|
|
|
|
May 31, 2023 and August 31, 2022; issued and outstanding 9,369,925
and 9,232,483, respectively |
|
187,398 |
|
|
|
184,650 |
|
|
Additional paid-in capital |
|
21,426,721 |
|
|
|
19,939,131 |
|
|
Retained earnings |
|
51,662,515 |
|
|
|
50,716,613 |
|
|
Accumulated other comprehensive loss |
|
(6,879,447 |
) |
|
|
(7,245,132 |
) |
|
Stockholders’ equity |
|
66,397,187 |
|
|
|
63,595,262 |
|
|
Non-controlling interests |
|
3,533,761 |
|
|
|
3,649,034 |
|
|
Total equity |
|
69,930,948 |
|
|
|
67,244,296 |
|
|
Total liabilities and equity |
$ |
87,313,423 |
|
|
$ |
86,193,953 |
|
NORTHERN
TECHNOLOGIES INTERNATIONAL CORPORATION AND
SUBSIDIARIESCONSOLIDATED STATEMENTS OF
OPERATIONS (UNAUDITED)FOR THE
THREE AND NINE MONTHS ENDED MAY 31, 2023 AND 2022 |
|
Three Months Ended May 31, |
|
Nine Months Ended May 31, |
|
|
2023 |
|
|
|
2022 |
|
|
|
2023 |
|
|
|
2022 |
|
NET SALES: |
|
|
|
|
|
|
|
Net sales |
$ |
20,969,726 |
|
|
$ |
18,964,921 |
|
|
$ |
59,193,317 |
|
|
$ |
53,906,973 |
|
Cost of goods sold |
|
13,280,584 |
|
|
|
12,722,833 |
|
|
|
38,747,865 |
|
|
|
36,977,620 |
|
Gross profit |
|
7,689,142 |
|
|
|
6,242,088 |
|
|
|
20,445,452 |
|
|
|
16,929,353 |
|
|
|
|
|
|
|
|
|
JOINT VENTURE OPERATIONS: |
|
|
|
|
|
|
|
Equity in income from joint ventures |
|
1,346,658 |
|
|
|
1,364,597 |
|
|
|
3,664,793 |
|
|
|
3,662,178 |
|
Fees for services provided to joint ventures |
|
1,361,311 |
|
|
|
1,329,988 |
|
|
|
3,795,862 |
|
|
|
3,835,755 |
|
Total joint venture operations |
|
2,707,969 |
|
|
|
2,694,585 |
|
|
|
7,460,655 |
|
|
|
7,497,933 |
|
|
|
|
|
|
|
|
|
OPERATING EXPENSES: |
|
|
|
|
|
|
|
Selling expenses |
|
3,723,165 |
|
|
|
3,450,308 |
|
|
|
10,649,316 |
|
|
|
9,659,457 |
|
General and administrative expenses |
|
3,150,643 |
|
|
|
2,560,487 |
|
|
|
9,365,431 |
|
|
|
7,675,622 |
|
Research and development expenses |
|
1,150,711 |
|
|
|
1,102,942 |
|
|
|
3,401,885 |
|
|
|
3,557,437 |
|
Total operating expenses |
|
8,024,519 |
|
|
|
7,113,737 |
|
|
|
23,416,632 |
|
|
|
20,892,516 |
|
|
|
|
|
|
|
|
|
OPERATING INCOME |
|
2,372,592 |
|
|
|
1,822,936 |
|
|
|
4,489,475 |
|
|
|
3,534,770 |
|
|
|
|
|
|
|
|
|
REMEASUREMENT GAIN ON
ACQUISITION OF EQUITY METHOD INVESTEE |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3,951,550 |
|
|
|
|
|
|
|
|
|
INTEREST INCOME |
|
8,876 |
|
|
|
15,925 |
|
|
|
18,495 |
|
|
|
36,777 |
|
INTEREST EXPENSE |
|
(136,168 |
) |
|
|
(23,784 |
) |
|
|
(342,643 |
) |
|
|
(34,079 |
) |
|
|
|
|
|
|
|
|
INCOME BEFORE INCOME TAX
EXPENSE |
|
2,245,300 |
|
|
|
1,815,077 |
|
|
|
4,165,327 |
|
|
|
7,489,018 |
|
|
|
|
|
|
|
|
|
INCOME TAX EXPENSE |
|
542,295 |
|
|
|
604,314 |
|
|
|
834,823 |
|
|
|
1,260,437 |
|
|
|
|
|
|
|
|
|
NET INCOME |
|
1,703,005 |
|
|
|
1,210,763 |
|
|
|
3,330,504 |
|
|
|
6,228,581 |
|
|
|
|
|
|
|
|
|
NET INCOME ATTRIBUTABLE TO
NON- CONTROLLING INTERESTS |
|
177,409 |
|
|
|
210,596 |
|
|
|
417,418 |
|
|
|
551,808 |
|
|
|
|
|
|
|
|
|
NET INCOME ATTRIBUTABLE TO
NTIC |
$ |
1,525,596 |
|
|
$ |
1,000,167 |
|
|
$ |
2,913,086 |
|
|
$ |
5,676,773 |
|
|
|
|
|
|
|
|
|
NET INCOME ATTRIBUTABLE TO
NTIC PER COMMON SHARE: |
|
|
|
|
|
|
|
Basic |
$ |
0.16 |
|
|
$ |
0.11 |
|
|
$ |
0.31 |
|
|
$ |
0.62 |
|
Diluted |
$ |
0.16 |
|
|
$ |
0.11 |
|
|
$ |
0.30 |
|
|
$ |
0.59 |
|
|
|
|
|
|
|
|
|
WEIGHTED AVERAGE COMMON
SHARES |
|
|
|
|
|
|
|
ASSUMED OUTSTANDING: |
|
|
|
|
|
|
|
Basic |
|
9,369,923 |
|
|
|
9,227,912 |
|
|
|
9,355,776 |
|
|
|
9,216,216 |
|
Diluted |
|
9,628,069 |
|
|
|
9,578,797 |
|
|
|
9,702,610 |
|
|
|
9,682,646 |
|
CASH DIVIDENDS DECLARED PER
COMMON SHARE |
$ |
0.07 |
|
|
$ |
0.07 |
|
|
$ |
0.21 |
|
|
$ |
0.21 |
|
NORTHERN TECHNOLOGIES
INTERNATIONAL CORPORATION AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP
MEASURES (UNAUDITED, IN
THOUSANDS, EXCEPT SHARE AND PER SHARE
AMOUNTS)
The accompanying press release contains certain
non-GAAP financial measures, including adjusted net income
attributable to NTIC and adjusted net income attributable to NTIC
per diluted share, which are not calculated or presented in
accordance with accounting principles generally accepted in the
United States (GAAP). These non-GAAP financial measures are
information supplemental and in addition to the financial measures
presented in the accompanying release that are calculated and
presented in accordance with GAAP. NTIC uses non-GAAP financial
measures as supplemental measures of performance and believes these
measures facilitate operating performance comparisons from period
to period and company to company by factoring out potential
differences caused by non-recurring, unusual or infrequent charges
not related to NTIC’s regular, ongoing business. NTIC also believes
that the presentation of certain non-GAAP financial measures
provides useful information to investors in evaluating the
company’s operations, period over period. Such non-GAAP financial
measures should not be considered superior to, as a substitute for,
or as an alternative to, and should be considered in conjunction
with, the GAAP financial measures presented in the release. The
non-GAAP financial measures in the accompanying release may differ
from similar measures used by other companies.
The following is a reconciliation of NTIC’s
reported net income attributable to NTIC and reported net income
attributable to NTIC per diluted common share to adjusted net
income attributable to NTIC and adjusted net income attributable to
NTIC per diluted common share, in each case, as adjusted to exclude
the net one-time gain related to the acquisition of the remaining
50% ownership interest of ZERUST® India and
certain other adjustments as described below.
|
Three Months Ended May 31, |
|
Nine Months Ended May 31, |
|
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
|
|
|
|
|
|
|
|
Net income attributable to NTIC, as reported |
$ |
1,525,596 |
|
$ |
1,000,167 |
|
$ |
2,913,086 |
|
$ |
5,676,773 |
|
Adjustments for adjusted net income: |
|
|
|
|
|
|
|
Expenses related to ZERUST® India transaction |
|
- |
|
|
- |
|
|
- |
|
|
115,000 |
|
Gain on purchase of ZERUST® India |
|
- |
|
|
- |
|
|
- |
|
|
(4,612,638 |
) |
Cumulative foreign currency adjustment |
|
- |
|
|
- |
|
|
- |
|
|
661,088 |
|
Amortization expense |
|
105,783 |
|
|
105,350 |
|
|
317,349 |
|
|
317,350 |
|
Tax impact of adjusted items |
|
- |
|
|
- |
|
|
- |
|
|
121,000 |
|
Non-GAAP adjusted net
income |
$ |
1,631,379 |
|
$ |
1,105,517 |
|
$ |
3,230,435 |
|
$ |
2,278,573 |
|
|
|
|
|
|
|
|
|
Weighted average shares
outstanding (diluted) |
|
9,628,069 |
|
|
9,578,797 |
|
|
9,702,610 |
|
|
9,682,646 |
|
Diluted net income per share,
as reported |
|
0.16 |
|
|
0.11 |
|
|
0.30 |
|
|
0.59 |
|
Adjustments for adjusted net
income, net of tax impact, per diluted share 1 |
|
0.01 |
|
|
0.01 |
|
|
0.03 |
|
|
(0.35 |
) |
Non-GAAP diluted adjusted net
income per share |
$ |
0.17 |
|
$ |
0.12 |
|
$ |
0.33 |
|
$ |
0.24 |
|
|
|
|
|
|
|
|
|
1 Includes
adjustments related to the items noted above, net of tax |
Northern Technologies (NASDAQ:NTIC)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Northern Technologies (NASDAQ:NTIC)
Gráfica de Acción Histórica
De May 2023 a May 2024