Northern Technologies International Corporation Reports Net Income Increases 105.4% YoY

Northern Technologies International Corporation NTIC today reported its financial results for the first quarter of fiscal 2011. Highlights of NTIC's financial and operating results include: Net income increased 105.4%, to $894,874, or $0.21 per diluted common share, for the three months ended November 30, 2010 compared to $435,705, or $0.10 per diluted common share, for the three months ended November 30, 2009. NTIC's consolidated net sales increased 51.2% to $4,098,441 during the three months ended November 30, 2010 compared to the three months ended November 30, 2009. NTIC's consolidated net sales during the three months ended November 30, 2010 included $517,140 of sales made by Zerust Brazil. NTIC has consolidated the financial results of Zerust Brazil in NTIC's consolidated financial statements for first quarter fiscal 2011 and expects to continue to do so going forward. Sales by NTIC's joint ventures increased 39.1% to $27,101,587 in the three months ended November 30, 2010 compared to $19,480,538 in the three months ended November 30, 2009. NTIC received a Department of Defense Phase I contract worth $70,000 for the development of marine biodegradable, biobased, non-plastic waste bags.