Northern Technologies International Corporation (NASDAQ:NTIC) Q2 2023 Earnings Conference Call April 13, 2023 9:00 AM ET

Company Participants

Patrick Lynch - CEO

Matt Wolsfeld - CFO

Conference Call Participants

Gus Richard - Northland Capital Markets

Tim Clarkson - Van Clemens & Co.

Operator

Good day, and thank you for standing by. Welcome to the Northern Technologies International Corporation Second Quarter 2023 Earnings Conference Call. [Operator Instructions] Please be advised 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 desires to avail itself of the protections of the Safe Harbor for 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 its forward-looking statements.

I would now like to hand the conference over to your speaker today, Patrick Lynch, Chief Executive Officer. Please go ahead.

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 second 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 second quarter financial results, provide a brief business update and then conclude with a question-and-answer session.

For almost 20 years now, NTIC has been singularly focused on building a solid foundation comprised of an experienced and committed leadership team, as well as a constantly growing portfolio of solutions to answer their diverse and evolving needs of our global customer base. We have continually invested in our business by adding capabilities, enhancing our operations and opportunistically buying out select joint venture partners. This in turn has enabled us to pursue long-term growth strategies aimed at diversifying our end-markets, product categories and geographic footprint.

Our second quarter financial performance reflects the success of these initiatives and the resilience of our platform as stable demand for our Zerust Industrial products and services in North America, coupled with growing interest in our Natur-Tec and Zerust Oil & Gas products, both in the U.S. and abroad, provided yet another new sales record in the second quarter. Even as we continue to navigate an extremely complex operating environment comprised of, but not limited to, persistent inflation, raw-material cost increases, geopolitical conflicts in Europe and the lingering effects of the COVID-19 pandemic in Asia.