Northern Technologies International posts record Q1sales on oil & gas strength
Northern Technologies International Corporation (NASDAQ:NTIC) reported consolidated net sales of $23.309 million for its fiscal first quarter of 2026, a 9.2% increase from the prior-year period and marking a new quarterly record.
Growth was led by standout performances in key segments, with ZERUST oil & gas sales surging 58.1% to $2.394 million and NTIC China contributing $4.935 million, up 23.5%.
ZERUST industrial sales rose 6.9% to $14.923 million, while Natur-Tec sales edged up 2.2% to $5.993 million.
Gross margin contracted 230 basis points to 36%, contributing to a 15.6% decline in operating income to $0.934 million.
Net income attributable to NTIC fell to $0.238 million, or $0.03 per diluted share, from $0.561 million a year earlier.
On a non-GAAP adjusted basis, net income was $0.344 million, or $0.04 per diluted share.
Income from joint ventures decreased 5.1% to $2.291 million.
The company ended the quarter with working capital of $19.441 million, including $6.390 million in cash and $12.022 million in debt.
Management expressed optimism for the balance of fiscal 2026, anticipating sequential gross margin improvement alongside continued sales growth across its global corrosion prevention and bioplastics portfolio.
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