Welcome to our dedicated page for Northern Techn news (Ticker: NTIC), a resource for investors and traders seeking the latest updates and insights on Northern Techn stock.
Northern Technologies International Corporation reports developments in corrosion prevention and sustainable polymer materials through its ZERUST and Natur-Tec businesses. Its recurring updates cover ZERUST rust and corrosion inhibiting products and technical consulting for automotive, industrial, military, retail consumer, and oil and gas customers, including international subsidiary and joint venture activity.
Company news also includes quarterly financial results by product category, sales trends for NTIC China and oil and gas applications, cash dividend actions, and Natur-Tec projects involving bio-based, biodegradable, and compostable polymer resin compounds and finished products for packaging applications.
Northern Technologies International Corporation (NTIC) has secured a significant contract with BP Exploration to provide chemical corrosion protection services for 12 storage tanks through December 2025. This contract marks the largest for NTIC's ZERUST Vapor Corrosion Inhibitor solutions to date, building on their previous installations for BP in Georgia, Azerbaijan, and Turkey. NTIC anticipates further growth and installations worldwide, bolstered by favorable technical reports validating their technology.
Northern Technologies International Corporation (NASDAQ: NTIC) has announced a cash dividend of $0.07 per share, payable on August 17, 2022, to shareholders on record by August 3, 2022. This declaration reflects the company's commitment to shareholder returns amidst its focus on developing corrosion inhibiting products and environmentally friendly polymer compounds. NTIC operates in over 60 countries and has expanded its focus to include the oil and gas sector while continuing its successful ZERUST® brand offerings.
Northern Technologies International Corporation (NASDAQ: NTIC) reported robust third-quarter fiscal 2022 results, achieving record consolidated net sales of $18.965 million, a 23.0% increase year-over-year. Key highlights include a 16.7% rise in ZERUST® net sales and a notable 47.0% growth in oil and gas sales. However, net income decreased to $1 million from $2.054 million in the prior year. Operating expenses improved to 37.5% of net sales. NTIC’s outlook remains cautiously optimistic with an anticipated rebound in profitability, especially in China.
Northern Technologies International Corporation (NTIC) plans to release its fiscal 2022 third quarter financial results on July 7, 2022, before market opening. A conference call with management will also take place the same day at 9:00 a.m. ET. Patrick Lynch, the CEO, and Matt Wolsfeld, the CFO, will discuss the results and provide an outlook for the company. The call will be open for questions after the presentation. Interested parties can register for the call and access the webcast via NTIC’s Investor Relations website.
Northern Technologies International Corporation (NASDAQ: NTIC) has declared a quarterly cash dividend of $0.07 per share. This dividend is payable on May 18, 2022, to shareholders of record as of May 4, 2022. NTIC specializes in corrosion inhibiting products and bio-based materials, operating in over 60 countries for over 45 years. Their notable ZERUST® brand serves various markets including automotive and oil & gas, providing technical consulting services alongside their product offerings.
Northern Technologies International Corporation (NASDAQ: NTIC) reported a 31% increase in net sales for Q2 FY2022, reaching $16.75 million, driven by robust demand across product categories. Although Zerust® sales grew 27.6% to $13.12 million, net income fell to $183,000 from $1.31 million year-over-year, with EPS declining from $0.13 to $0.02. Adjusted net income stood at $392,000 or $0.04 per share. The company is optimistic about H2 FY2022 due to improved pricing strategies to offset rising raw material and labor costs.
Northern Technologies International Corporation (NASDAQ: NTIC) will release its fiscal 2022 second quarter financial results on April 7, 2022, before the market opens. A conference call is scheduled for the same day at 9:00 a.m. Eastern Time, featuring CEO Patrick Lynch and CFO Matt Wolsfeld discussing the results and future outlook. Investors can access the live audio webcast and participate in a Q&A session. NTIC specializes in corrosion prevention products marketed under the ZERUST® brand and operates in over 60 countries.
Northern Technologies International Corporation (NASDAQ: NTIC) announced a quarterly cash dividend of $0.07 per share, payable on February 16, 2022, to shareholders of record by February 2, 2022. NTIC specializes in corrosion prevention and offers bio-based and biodegradable polymer resins, operating in over 60 countries with a focus on markets such as automotive, electronics, and oil and gas. The company has a history of more than 40 years in corrosion inhibiting products, primarily marketed under the ZERUST® brand.
Northern Technologies International Corporation (NASDAQ: NTIC) reported a record net sales of $18.19 million for Q1 fiscal 2022, a 42.4% year-over-year increase. ZERUST® sales rose 41.1% to $14.42 million, with significant growth in oil and gas sectors. However, net income per diluted share increased to $0.46, up from $0.13, influenced by a one-time gain related to the acquisition of Zerust India. Operating expenses rose to $7.07 million, but improved as a percentage of sales. Higher raw material and labor costs impacted profitability. The balance sheet remains robust with $8.05 million in cash and equivalents.
Northern Technologies International Corporation (NASDAQ: NTIC) will release its fiscal 2022 first quarter financial results on January 6, 2022, before market opening. A conference call led by CEO Patrick Lynch and CFO Matt Wolsfeld is scheduled for the same day at 9:00 a.m. ET to discuss the results and outlook, followed by a Q&A session. Investors can access the live audio webcast on NTIC's Investor Relations webpage. The company focuses on environmentally beneficial products, primarily in corrosion prevention under the ZERUST® brand.