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Northern Technologies International Corp Lowers FY 2013 Guidance


Thursday, 11 Apr 2013 08:00am EDT 

Northern Technologies International Corp announced that it now believes Petrobras intends to place a larger number of smaller orders on a quarterly basis rather than one large order. As a result, the Company now anticipates that the revenues from the phase 3 contract will be recognized more evenly on a quarterly basis during the remainder of fiscal 2013 and fiscal 2014. This decreases some of the volatility in expected revenues and earnings, however, it also adversely impacts anticipated fiscal 2013 revenues and earnings. As a result of this change in order size, the Company is updating is previous guidance and now expects net sales will range between $24.0 million and $25.0 million, inclusive of sales made by NTIC's majority-owned subsidiary in Brazil, for fiscal 2013. The Company expects net income to range between $2.7 million and $3.0 million, or between $0.62 and $0.68 per diluted common share, for the fiscal 2013. 

Company Quote

18.97
0.48 +2.60%
21 Oct 2014