10-Q Filing

NORTHERN TECHNOLOGIES INTERNATIONAL CORP CIK: 875582 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001171843-12-000110`
Period End Date	20111130
Filing Date	20120113
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	ntic-20111130.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 86 Income Statement 52 Cash Flow Statement 57

Balance Sheet 86 line items

Line Item	Tag	Value	Unit	Period
Trade, allowance (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$20.00K	USD	Point-in-time
Trade, allowance (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$20.00K	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.27M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.41M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10,000.00	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10,000.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.78M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Trade excluding joint ventures, less allowance for doubtful accounts of $20,000 at November 30, 2011 and August 31, 2011	`TradeReceivablesExcludingJointVenturesNetCurrent`	$2.52M	USD	Point-in-time
Trade excluding joint ventures, less allowance for doubtful accounts of $20,000 at November 30, 2011 and August 31, 2011	`TradeReceivablesExcludingJointVenturesNetCurrent`	$2.85M	USD	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.02	USD	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.02	USD	Point-in-time
Trade joint ventures	`TradeReceivablesJointVenturesCurrent`	$1.01M	USD	Point-in-time
Trade joint ventures	`TradeReceivablesJointVenturesCurrent`	$1.15M	USD	Point-in-time
Fees for services provided to joint ventures	`FeesReceivableForServicesProvidedToJointVenturesCurrent`	$2.13M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Fees for services provided to joint ventures	`FeesReceivableForServicesProvidedToJointVenturesCurrent`	$2.17M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	4.40M	shares	Point-in-time
Inventories	`InventoryNet`	$3.97M	USD	Point-in-time
Inventories	`InventoryNet`	$3.84M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	4.35M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$364.81K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$711.44K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.40M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.35M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$221.60K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$221.60K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.33M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.49M	USD	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$3.64M	USD	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$3.59M	USD	Point-in-time
Investments in joint ventures	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$20.56M	USD	Point-in-time
Investments in joint ventures	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$18.76M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.41M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.41M	USD	Point-in-time
Patents and trademarks, net	`FiniteLivedIntangibleAssetsNet`	$903.04K	USD	Point-in-time
Patents and trademarks, net	`FiniteLivedIntangibleAssetsNet`	$909.03K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$39.65K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$41.75K	USD	Point-in-time
AssetsNoncurrent	`AssetsNoncurrent`	$21.12M	USD	Point-in-time
AssetsNoncurrent	`AssetsNoncurrent`	$22.91M	USD	Point-in-time
Assets	`Assets`	$39.04M	USD	Point-in-time
Assets	`Assets`	$40.04M	USD	Point-in-time
Current portion of note payable	`NotesPayableCurrent`	$76.12K	USD	Point-in-time
Current portion of note payable	`NotesPayableCurrent`	$76.12K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.03M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$195.76K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$160.42K	USD	Point-in-time
Payroll and related benefits	`EmployeeRelatedLiabilitiesCurrent`	$710.74K	USD	Point-in-time
Payroll and related benefits	`EmployeeRelatedLiabilitiesCurrent`	$1.63M	USD	Point-in-time
Deferred joint venture royalties	`DeferredRevenueCurrent`	$288.00K	USD	Point-in-time
Deferred joint venture royalties	`DeferredRevenueCurrent`	$288.00K	USD	Point-in-time
Other	`OtherAccruedLiabilitiesCurrent`	$237.06K	USD	Point-in-time
Other	`OtherAccruedLiabilitiesCurrent`	$182.92K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.97M	USD	Point-in-time
NOTE PAYABLE, NET OF CURRENT PORTION (Note 6)	`LongTermNotesPayable`	$1.01M	USD	Point-in-time
NOTE PAYABLE, NET OF CURRENT PORTION (Note 6)	`LongTermNotesPayable`	$990.50K	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, no par value; authorized 10,000 shares; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par value; authorized 10,000 shares; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.02 par value per share; authorized 10,000,000 shares; issued and outstanding 4,397,324 and 4,353,058, respectively	`CommonStockValue`	$87.06K	USD	Point-in-time
Common stock, $0.02 par value per share; authorized 10,000,000 shares; issued and outstanding 4,397,324 and 4,353,058, respectively	`CommonStockValue`	$87.95K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$10.85M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$10.14M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$22.77M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$21.81M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.50M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.32M	USD	Point-in-time
Stockholders equity	`StockholdersEquity`	$35.02M	USD	Point-in-time
Stockholders equity	`StockholdersEquity`	$34.53M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$58.65K	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$91.80K	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$34.63M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$35.08M	USD	Point-in-time
LiabilitiesAndStockholdersEquity	`LiabilitiesAndStockholdersEquity`	$40.04M	USD	Point-in-time
LiabilitiesAndStockholdersEquity	`LiabilitiesAndStockholdersEquity`	$39.04M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net sales, excluding joint ventures	`NetSalesExcludingJointVentures`	$3.45M	USD	1 Quarter
Net sales, excluding joint ventures	`NetSalesExcludingJointVentures`	$4.28M	USD	1 Quarter
Net sales, to joint ventures	`NetSalesToJointVentures`	$554.47K	USD	1 Quarter
Net sales, to joint ventures	`NetSalesToJointVentures`	$652.14K	USD	1 Quarter
NET SALES	`SalesRevenueNet`	$4.83M	USD	1 Quarter
NET SALES	`SalesRevenueNet`	$4.10M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$2.69M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$3.21M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.41M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.62M	USD	1 Quarter
Equity in income of joint ventures	`IncomeLossFromEquityMethodInvestments`	$1.36M	USD	1 Quarter
Equity in income of joint ventures	`IncomeLossFromEquityMethodInvestments`	$1.70M	USD	1 Quarter
Fees for services provided to joint ventures	`FeesForServicesProvidedToJointVentures`	$1.45M	USD	1 Quarter
Fees for services provided to joint ventures	`FeesForServicesProvidedToJointVentures`	$1.45M	USD	1 Quarter
OtherOperatingIncome	`OtherOperatingIncome`	$3.15M	USD	1 Quarter
OtherOperatingIncome	`OtherOperatingIncome`	$2.80M	USD	1 Quarter
Selling expenses	`SellingExpense`	$1.11M	USD	1 Quarter
Selling expenses	`SellingExpense`	$999.05K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.10M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.27M	USD	1 Quarter
Expenses incurred in support of joint ventures	`OtherCostOfOperatingRevenue`	$200.26K	USD	1 Quarter
Expenses incurred in support of joint ventures	`OtherCostOfOperatingRevenue`	$228.72K	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$814.30K	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$1.19M	USD	1 Quarter
OperatingExpenses	`OperatingExpenses`	$3.53M	USD	1 Quarter
OperatingExpenses	`OperatingExpenses`	$3.39M	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$1.03M	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$1.03M	USD	1 Quarter
INTEREST INCOME	`InvestmentIncomeInterest`	$8.06K	USD	1 Quarter
INTEREST INCOME	`InvestmentIncomeInterest`	$3.93K	USD	1 Quarter
INTEREST EXPENSE	`InterestExpense`	$5.97K	USD	1 Quarter
INTEREST EXPENSE	`InterestExpense`	$23.23K	USD	1 Quarter
OTHER INCOME	`OtherIncome`	$6.83K	USD	1 Quarter
OTHER INCOME	`OtherIncome`	$6.92K	USD	1 Quarter
INCOME BEFORE INCOME TAX EXPENSE	`IncomeLossIncludingPortionAttributableToNoncontrollingInterest`	$1.02M	USD	1 Quarter
INCOME BEFORE INCOME TAX EXPENSE	`IncomeLossIncludingPortionAttributableToNoncontrollingInterest`	$1.04M	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$106.00K	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$122.00K	USD	1 Quarter
NET INCOME	`ProfitLoss`	$935.42K	USD	1 Quarter
NET INCOME	`ProfitLoss`	$894.87K	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST	`NetIncomeLossAttributableToNoncontrollingInterest`	$-23.34K	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST	`NetIncomeLossAttributableToNoncontrollingInterest`	$-4.91K	USD	1 Quarter
NET INCOME ATTRIBUTABLE TO NTIC	`NetIncomeLoss`	$958.76K	USD	1 Quarter
NET INCOME ATTRIBUTABLE TO NTIC	`NetIncomeLoss`	$899.78K	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.21	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.22	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.21	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.22	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.36M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.26M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.43M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.32M	shares	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$935.42K	USD	1 Quarter
Net income	`ProfitLoss`	$894.87K	USD	1 Quarter
Expensing of fair value of stock options vested	`StockOptionPlanExpense`	$72.52K	USD	1 Quarter
Expensing of fair value of stock options vested	`StockOptionPlanExpense`	$44.14K	USD	1 Quarter
Depreciation expense	`Depreciation`	$80.89K	USD	1 Quarter
Depreciation expense	`Depreciation`	$85.49K	USD	1 Quarter
Amortization expense	`AdjustmentForAmortization`	$38.71K	USD	1 Quarter
Amortization expense	`AdjustmentForAmortization`	$39.72K	USD	1 Quarter
Equity in income from joint ventures	`IncomeLossFromEquityMethodInvestments`	$1.36M	USD	1 Quarter
Equity in income from joint ventures	`IncomeLossFromEquityMethodInvestments`	$1.70M	USD	1 Quarter
Trade, excluding joint ventures	`IncreaseDecreaseInTradeReceivablesExcludingJointVentures`	$-363.75K	USD	1 Quarter
Trade, excluding joint ventures	`IncreaseDecreaseInTradeReceivablesExcludingJointVentures`	$410.03K	USD	1 Quarter
Trade, joint ventures	`IncreaseDecreaseInTradeReceivablesJointVentures`	$-144.16K	USD	1 Quarter
Trade, joint ventures	`IncreaseDecreaseInTradeReceivablesJointVentures`	$277.93K	USD	1 Quarter
Fees for services receivables, joint ventures	`IncreaseDecreaseInFeesReceivableForServicesProvidedToJointVentures`	$404.94K	USD	1 Quarter
Fees for services receivables, joint ventures	`IncreaseDecreaseInFeesReceivableForServicesProvidedToJointVentures`	$38.88K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$1.40K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$326.33K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$158.23K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$260.60K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$349.11K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-309.84K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-489.03K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-27.04K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-17.51K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-118.98K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-235.37K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.99M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.79M	USD	1 Quarter
Investment in joint ventures	`PaymentsToAcquireInterestInJointVenture`	$38.22K	USD	1 Quarter
Dividends received from joint ventures	`ProceedsFromDividendsReceived`	$1.37M	USD	1 Quarter
Dividends received from joint ventures	`ProceedsFromDividendsReceived`	$2.03M	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$51.03K	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$75.27K	USD	1 Quarter
Additions to patents	`PaymentsToAcquireIntangibleAssets`	$44.70K	USD	1 Quarter
Additions to patents	`PaymentsToAcquireIntangibleAssets`	$10.24K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.94M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.24M	USD	1 Quarter
Repayment of note payable	`RepaymentsOfNotesPayable`	$9.21K	USD	1 Quarter
Repayment of note payable	`RepaymentsOfNotesPayable`	$19.03K	USD	1 Quarter
Proceeds from employee stock purchase plan	`ProceedsFromStockPlans`	$17.75K	USD	1 Quarter
Proceeds from employee stock purchase plan	`ProceedsFromStockPlans`	$22.41K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$261.33K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.38K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$269.87K	USD	1 Quarter
EFFECT OF EXCHANGE RATE CHANGES ON CASH:	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-12.55K	USD	1 Quarter
EFFECT OF EXCHANGE RATE CHANGES ON CASH:	`EffectOfExchangeRateOnCashAndCashEquivalents`	$4.34K	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-473.72K	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$141.01K	USD	1 Quarter
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.27M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.30M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.41M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.78M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.27M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.30M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.41M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.78M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.