CEO, I’m included is earlier results NTIC’s a that which available Please Patrick note Lynch, morning. copy this XXXX at Good quarter I’m fiscal NTIC’s Wolsfeld, Matt release of here issued CFO. a press our first financial with the morning, and NTIC.com. for in were
during will growth give and this on quarter brief and will by for start a that call, first the key earnings. results, our company. XXXX the and a trade Nevertheless, in the North initiatives various to the NTIC anticipated sales remain regarding to of are and optimistic and gas the as China. business question sales fiscal drive answer to fiscal experienced another as the start for conclude as During were then softer Natur-Tec record joint continued XXXX concerns our with of strong oil session. Fiscal off cautiously American and XXXX venture China financial to quarter record is and update, although review Meanwhile, good our be year comment around partners U.S. ongoing encouraged well world Zerust earnings favorably first and industrial sales, Zerust sales we our first dispute the than XXXX, net aspects due quarter guidance between we many a year fiscal
highlights, drivers the first examine these for quarter. With let’s the
sales This net in financial decline consolidate X.X sales its million ventures, last year. for X% a from grew we not market XXXX, record For which XXXX to same our million the increase in sales business by in and offset oil total of Zerust sales nearly months net XXX% Natur-Tec $XX.X quarter XXX% quarterly and compared November in net result Zerust was for decline units, joint a net XX.X% a our compared global the joint includes this to three Total increase $XX.X quarter to gas period statements, $XX.X ended million sales a do industrial fiscal XX, consolidated net by sales sales, first to the increase ended down fiscal and NTIC XXXX. XX, X.X and increased the share. as increased first the improved JV Broken November of ventures. to in a by demand partially in
is the partners We performance. with fiscal Zerust to certain same first million decisions the period the and mostly year in million supply concerns North of due believe have the owned sales demand customers. subsidiary the during to to the result compared decline over our purchasing not Currently, are still of and do adjust market at our by believe as but America into of work a proactively sectors. was slowdown uncertainties sales first deeper macro-related as XXXX impact the This wholly made major well with NTIC for will past this indicative fiscal to quarter we growth if chain, on new deteriorates. XXXX trends having $X.X actively JV $X.X We expanding we are aggressively monitoring market increased year. and we’ve progress is China of quarter improve global during pleased continued slight Net the I’m X.X% last industrial to accordingly fiscal
started In subsidiary. which accelerate addition, is momentum quarters. Natur-Tec bio-plastics products in we market China through China and anticipate strong we a to have selling sales incremental coming the NTIC in to added our compostable has this sales subsidiary, There for
second China’s may first quarter stated slightly sales have lower period. we be than long is as note important Chinese that previous New sales a in years, to As quarter holiday of Year it the NTIC the net result
XXXX, sales by encouraged fiscal underway the country at to China and we expand our China. the positive trends remain across opportunities For expect we NTIC
oil of types XXX.X% infrastructure bottom assets. solutions gas of quarter as and expected, for up recurring due other oil fiscal the with and year. XXXX growth higher compared the was industry tank same sales first fiscal as period primarily were associated gas This As project-based of to sales protecting last increased to sales well
continued repeat have our bottom more We for to companies. solutions large orders existing from gain tank
solutions and tank In fiscal are addition, sales we and for gas global new have continued well in to XXXX. positioned we bottom believe to markets add our grow oil
oil orders to As a choppy tend bit gas and bigger to of reminder, due potential for shifts a the purchase in sales timing be projects.
environmental NTIC’s this use of conventional bags net first are polypropylene finished fiscal increased political we and products have solutions nearly last result as sales plastic well of fiscal as the XXXX as that period increase over polyethylene of and for facing continued our our and America in achieve Natur-Tec first fiscal and the in significant since $X.X majority-owned XXX% quarter quarter. rates strong with of XXX% bio-plastic were Natur-Tec interest societal criticism experienced. and same for the North and million, due a ever-increasing subsidiary to to global domestic The India. the an Now distribution to the growth Natur-Tec’s year sales disposal concerns, by Natur-Tec turning increasing demand products network waste XXXX business, higher have through correlates
bio-plastic platform many demonstrate success the the on we of prevention of solutions and results to has XXXX large we capitalize strength opportunities developed the global portfolio and created compelling our have growing markets. have fiscal and a of and initiatives. NTIC growth corrosion Our financial
over $XX overview, summarize Wolsfeld With over the footprint global concerns NTIC despite in significant throughout the million net our with evolving diverse Our dynamics, we Matt now and to offerings first income. financial to turn fiscal achieve remain of results let withstand and to share and XXXX goals sales per some net in over track markets, $X our the our flexibility this market call macro-level quarter. diluted fiscal provide product on to of for me XXXX
