NTIC Reports Q1 Revenue of $23.3M, Up 9.2%

Reports Q1 revenue $23.3M, up 9.2%. "We delivered record consolidated net sales during first quarter, driven by the strongest year-over-year growth rate we've had since fiscal 2024. This performance was supported by higher sales across key sectors, including ZERUST oil and gas, NTIC China, and North American Natur-Tec sales. ZERUST oil and gas achieved record first quarter sales, marking the second consecutive quarter with more than $2M in revenue, reflecting improving demand from both new and existing customers. With favorable demand trends across many of our core markets and geographies, we believe we are well positioned for continued sales growth in fiscal 2026," said G. Patrick Lynch, CEO. "Improving profitability is a key priority for fiscal 2026. Operating expenses as a percentage of sales were 41.8% for the first quarter, reflecting the third consecutive quarterly improvement in holding down operating expenses. We expect quarterly sales to grow faster than operating expenses as we continue to leverage recent investments in new employees and facilities across our global operations. Although consolidated gross margin declined modestly during the quarter, due to a supplier lead-time issue, we believe this will only have a near-term impact. We expect gross margin to improve sequentially during fiscal 2026. Overall, the start to fiscal 2026 is encouraging, and we anticipate higher year-over-year profitability as we benefit from higher sales, expanding gross margin, and controlled operating expenses," concluded Mr. Lynch.