Northern Technologies International Corp. (NTIC), Wednesday, reported a lower profit for the second quarter on higher raw material costs.
The Circle Pines, Minnesota-based company reported a second-quarter net profit attributable to NTIC of $606 thousands or $0.14 per share, compared to $949 thousands or $0.22 per share last year.
Total revenues for the quarter rose 4.1 percent to $4.97 million from $4.78 million in the prior-year quarter, primarily due to increased demand and sales of Natur-Tec products.
Looking ahead to full-year 2012, the company expects net profit attributable to NTIC to range between $4.7 million and $5.0 million or $1.08 and $1.14 per share. Revenues for the year are anticipated in the range of $23.0 million to $24.5 million.
by RTT Staff Writer
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