Northern Technologies International Corporation announced unaudited consolidated earnings results for the first quarter ended November 30, 2017. For the quarter, the company reported total net sales of $11,543,038 compared to $9,702,023 a year ago. Operating income was $1,284,613 compared to $525,466 a year ago. Interest income was $24,056 compared to $3,563 a year ago. Income before income tax expense was $1,303,580 compared to $524,406 a year ago. Net income attributable to the company was $1,083,626 or $0.24 per basic and diluted share compared to $297,639 or $0.07 per basic and diluted share a year ago.

For the fiscal year ending August 31, 2018, the company continues to expect its net sales to be in the range of $46.0 million to $47.0 million. The company also continues to anticipate net income attributable to the company to be in the range of $5.0 million to $5.3 million, or $1.10 to $1.15 per diluted share. The company's annual net income guidance does not take into consideration any non-cash write down to its deferred tax asset that the company expects will occur in the second quarter of fiscal 2018 as a result of the recent enactment of the Tax Cuts and Jobs Act.