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Why Materials Stock Northern Technologies Shares Are Diving Today
Northern Technologies International Corporation (NASDAQ:NTIC) shares are trading lower after the company reported the third quarter of fiscal 2024 results.
Net sales fell 1.4% Y/Y to $20.7 million, missing the estimate of $23.0 million. ZERUST industrial net sales fell 4.4% Y/Y to $13.5 million, and ZERUST oil and gas net sales fell 31.9% Y/Y to $1.36 million.
Natur-Tec product net sales rose 20.1% Y/Y to $5.85 million, and NTIC China net sales rose 6.7% Y/Y to $3.54 million.
Gross profit margin expanded 210 basis ...