Northern Technologies International Corp. Concludes New Contract with Petrobras According to BAC Company Report16 Oct 2012 • by Natalie Aster
LONDON – Earlier in September Northern Technologies International Corporation (NTIC) announced signing of a new contract between Petróleo Brasileiro S.A. and its Brazilian subsidiary Zerust Prevenção de Corrosão S.A. Zerust Prevenção will supply ZERUST® products for Petrobras' off-shore platforms in a single shipment. The value of the contract comprised USD 3.7 M. Brazilian oil miner has analyzed ZERUST® efficiency and performance and decided to continue cooperation with NTIC’s subsidiary. It will be a third time for Zerust Prevenção to provide ZERUST® anti-corrosion solutions to Petrobras.
NTIC has been successful in its financial recovery from the weak year ended August 2011. For the quarter ended May 2012 revenue comprised USD 7.8 M, gross profit equaled USD 3.7 M, operating and net income amounted to USD 2.4 M and USD 1.5 M, respectively. USA was the main revenue bringer with 58% share in total revenues. ZERUST® brought about 92% of the total amount, Natur-Tec® products added 8%.
The outlook for the financial year ended August 2012 states revenue between USD 23 M and USD 24.5 M, which is a potential improvement by 17.9% or 25.6% against the previous period.
Founded in 1970 and headquartered in Circle Pines, MN (USA), NTIC engages in development of anti-corrosion solutions with presence in over 50 countries. Company’s brands are Zerust® and Natur-Tec®. NTIC is public and trades on NASDAQ under the ticker NTIC.
Get the disclosure of the company’s business, products, financials, competitors and more from the report “Northern Technologies International Corp. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
Title: Northern Technologies International Corp. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Oct, 2012
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