Northern Technologies International Corporation (NASDAQ: NTIC) shares barely moved Thursday. The company, 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 first quarter of fiscal 2026.
First-quarter fiscal 2026 financial and operating highlights include (with growth rates on a fiscal quarter year-over-year basis):
• Consolidated net sales increased 9.2% to a quarterly record of $23,309,000
• ZERUST® industrial net sales increased 6.9% to a quarterly record of $14,923,000
• ZERUST® oil and gas net sales increased 58.1% to a first quarter record of $2,394,000
• Natur-Tec® product net sales increased 2.2% to a quarterly record of $5,993,000
• NTIC China net sales increased 23.5% to a quarterly record of $4,935,000
• Gross profit, as a percentage of net sales, decreased 230 basis points to 36.0%
• Joint venture operating income decreased 5.1% to $2,291,000
• Operating income decreased 15.6% to $934,000.
• Net income attributable to NTIC was $238,000, compared to $561,000
Said CEO Patrick Lynch, “We delivered record consolidated net sales during first quarter, driven by the strongest year-over-year growth rate we’ve had since fiscal 2024. This performance was supported by higher sales across key sectors, including ZERUST® oil and gas, NTIC China, and North American Natur-Tec® sales. ZERUST® oil and gas achieved record first quarter sales, marking the second consecutive quarter with more than $2 million in revenue, reflecting improving demand from both new and existing customers.”
NTIC shares opened Thursday lower by a nickel to $8.69.
