Northern Technologies International Corp. (NASDAQ:NTIC) Q4 2023 Results Conference Call November 21, 2023 9:00 AM ET
Company Participants
Patrick Lynch - CEO
Matt Wolsfeld - CFO
Conference Call Participants
Tim Clarkson - Van Clemens & Company Inc.
Walter Ramsley - Walrus Partners
Operator
Good day and thank you for standing by. Welcome to Northern Technologies International Corporation Fourth Quarter Fiscal Year 2023 Earnings Conference Call and Webcast. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [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 decided 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 hand the conference over to your speaker host for today, Patrick Lynch, CEO. 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 fourth quarter and full year 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 fourth quarter and full year financial results, provide a brief business update, and then conclude with a question-and-answer session.
Fiscal 2023 marked NTIC's third year of consecutive record sales, despite the economic challenges growing in both Europe and China as well as rising interest rates in the U.S. Our continued sales growth success demonstrates increasing value we provide our global customers as well as the efficacy of our strategic focus on diversifying our products end markets and geographies.
I am particularly encouraged by our top-line results within the large oil and gas and compostable plastics markets. While fiscal 2023 proved to be highly successful with respect to diversifying our product mix and our end markets. At the same time, we also found sales conditions for our core ZERUST industrial solutions to be very challenging in both Europe and China.