Quarterly ResultJul 9, 2026, 08:06 AM
Northern Technologies Q3 Net Loss $0.03/Share; Record Sales $24.2M
AI Summary
Northern Technologies International Corporation reported its third fiscal quarter 2026 results, with consolidated net sales reaching a record $24,216,000, up 12.6% year-over-year. Despite record sales driven by strong demand for ZERUST® and Natur-Tec® products, the company posted a net loss of $263,000, or $0.03 per diluted share, primarily due to increased raw material costs and competitive pricing pressure which reduced gross margin by 477 basis points. The company also announced plans to sell its Beachwood, Ohio facility, with an expected closing in fiscal 2027 for over $1.0 million.
Key Highlights
- Consolidated net sales increased 12.6% to a record $24,216,000.
- Net loss attributable to NTIC was $263,000, compared to net income of $122,000 last year.
- Net loss per diluted share attributable to NTIC was $0.03, compared to net income of $0.01 last year.
- Gross profit, as a percentage of net sales, decreased 477 basis points to 33.6%.
- ZERUST® oil and gas net sales increased 72.3% to a record $2,219,000.
- Joint venture operating income increased 12.2% to $2,551,000.
- Company committed to sell its Beachwood, Ohio facility, expected to close in fiscal 2027 for over $1.0 million.
Price Impact
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