Core Insights - Northern Technologies International Corporation (NTIC) reported record first-quarter consolidated sales of 20,182,000 in the same period last year [3][5] - The growth was primarily driven by strong sales in Natur-Tec® products, which saw a 22.8% increase, and stable performance in ZERUST® oil and gas and industrial sales [3][5] - NTIC's CEO expressed cautious optimism regarding the continued improvement in global trends within ZERUST® industrial markets throughout fiscal 2025 [1] Financial Performance - Consolidated net sales increased to 13,962,000 (up 0.4%) and ZERUST® oil and gas net sales at 5,863,000, marking a significant increase of 22.8% [5][21] - NTIC China reported its highest quarterly sales in nearly three years, amounting to 9,470,000, primarily due to strategic investments in ZERUST® oil and gas sales infrastructure [2][5] - Gross profit margin improved by 200 basis points to 38.3%, reflecting successful quality system improvement initiatives [2][5] - Net income attributable to NTIC decreased to 0.06 per diluted share, compared to 0.09 per diluted share in the prior year [8][21] Joint Ventures and Cash Flow - Joint venture operating income increased by 2.7% to 23,837,000 [6][21] - Cash provided by operating activities for the first quarter was 22,183,000, with cash and cash equivalents of 94,037,655 and total liabilities of $19,730,606 [9][19]
Northern Technologies International Corporation Reports Financial Results for First Quarter Fiscal 2025