Northern Tech profit up 42%

  • Article by: STEVE ALEXANDER , Star Tribune
  • Updated: July 11, 2012 - 10:52 AM

Northern Technologies International, which markets corrosion prevention products, booked its largest delivery ever in Brazil.

Northern Technologies International, which makes industrial corrosion prevention products, reported a 42 percent third-quarter earnings increase, to $1.45 million, on sales of $7.8 million, up 53 percent.

The Circle Pines-based firm, which makes corrosion inhibitors and rust-removers, said the sales boost occurred in North America and in Brazil, where a $3 million order from Petroleo Brasileiro S.A. represented the company's largest-ever single delivery.

Nine-month earnings were $3 million, up 5 percent, and revenue was $17.6 million, up 26 percent.

The company projected that its full-year 2012 earnings will range from $3.8 million, or 87 cents a share, to $4.1 million, or 93 cents a share. Sales are expected to range from $23 million to $24.5 million.

Steve Alexander • 612-673-4553

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