Northern Technologies International Incorporated (NASDAQ:NTIC) Q3 2023 Earnings Conference Call July 13, 2023 9:00 AM ET

Company Participants

Patrick Lynch - President, Chief Executive Officer

Matthew Wolsfeld - Chief Financial Officer, Corporate Secretary

Vineet Dalal - Vice President, Natur-Tec

Conference Call Participants

Timothy Clarkson - Van Clemens

Gus Richard - Northland Capital Markets

Richard Hillman - private investor

Gregory Weaver - Invicta Capital Management

Unknown Analyst -

Operator

Good morning ladies and gentlemen. Thank you for standing by. Welcome to Northern Technologies International Corporation third quarter 2023 earnings conference call and webcast.

At this time, all participants are on a listen-only mode. After the speakers’ presentation, there will be a question and answer session. To ask a question during the session, you will need to press star-one-one on your telephone. You will then hear an automated message advising your hand is raised. Please note that today’s conference is being recorded.

As part of the discussion today, the representatives from NTIC will be making certain forward-looking statements regarding NTIC’s future financial and operating results, as well as their business plans, objectives and expectations. Please be advised that these forward-looking statements are covered under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and that NTIC decided to avail itself of the protections of the Safe Harbor of these statements.

Please also be advised that actual results could differ materially from those stated or implied by the forward-looking statements due to certain risks and uncertainties, including those described in NTIC’s most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and recent press releases. Please read these reports and other future filings that NTIC will make with the SEC. NTIC disclaims any duty to update or revise these forward-looking statements.

I will now hand the conference over to your speaker host for today, Mr. Patrick Lynch, Chief Executive Officer. Please go ahead, sir.

Patrick Lynch

Good morning. I am Patrick Lynch, NTIC’s CEO, and I’m here with Matt Wolsfeld, NTIC’s CFO.

Please note that a press release regarding our third quarter fiscal 2023 financial results was issued earlier this morning and is available at NTIC.com.

During today’s call, we will review various key aspects of our fiscal 2023 third quarter financial results, provide a brief business update, and then conclude with a question and answer session.

Record top line sales for our Zerust industrial, Zerust Oil & Gas, and Natur-Tec segments in turn pushed total sales for the third quarter to a new quarterly record as well. It would appear, therefore, that our strong third quarter performance not only revalidates the efficacy of our long term growth strategies, but also the value that our corrosion inhibiting products and services and bio-plastic solutions provide to our growing customer base. I am proud of these results as they show that our team members and joint venture partners have been working hard to support the complex needs of our global customers while also navigating extremely dynamic currents.