Joint venture

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Joint venture

A legal arrangement in which two or more parties undertake to share the risks and rewards of a project on an agreed upon basis.

joint venture

A collaborative undertaking by two or more persons or organizations for a specific project (or projects) having many of the legal characteristics of a partnership.
References in periodicals archive ?
NTIC's income from its corporate joint ventures and holding companies increased 87.
May 31, 2008 August 31, 2007 Current assets $52,535,155 $42,767,569 Total assets 60,071,889 49,312,491 Current liabilities 20,807,784 14,939,496 Noncurrent liabilities 5,088,937 4,971,199 Joint ventures' equity 34,175,168 29,401,796 Northern Technologies International Corporation's share of Corporate Joint Ventures' equity $16,193,141 $13,602,842 Three Months Ended Nine Months Ended May 31, May 31, May 31, May 31, 2008 2007 2008 2007 Net sales $30,802,632 $19,992,979 $79,893,753 $59,265,028 Gross profit 13,840,622 9,780,323 36,383,556 28,705,348 Net income 2,174,841 $1,769,563 5,434,476 4,903,342 NTIC's share of equity in income of Corporate Joint Ventures $1,139,140 $754,286 $3,006,996 $2,384,020 Use of Non-GAAP Financial Measures
NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION AND SUBSIDIARIES November 30, November 30, 2007 2006 NORTH AMERICAN OPERATIONS: Net sales $3,485,585 $4,617,374 Cost of sales 2,093,691 2,945,055 Gross profit 1,391,894 1,672,319 Operating expenses: 1,865,069 1,676,962 NORTH AMERICAN OPERATING LOSS (473,175) (4,643) INCOME FROM ALL CORPORATE JOINT VENTURES AND HOLDING COMPANIES 1,209,302 451,811 INTEREST INCOME 495 935 INTEREST EXPENSE (31,523) (42,881) OTHER INCOME 7,930 2,093 GAIN ON SALE OF ASSETS 1,529 724,495 MINORITY INTEREST 21,638 (9,586) INCOME BEFORE INCOME TAX EXPENSE 736,196 1,122,224 INCOME TAX EXPENSE 78,000 132,000 NET INCOME $658,196 $990,224 NET INCOME PER COMMON SHARE: Basic $0.
November 30, August 31, 2007 2007 Current assets $48,001,145 $42,767,569 Total assets 54,939,063 49,312,491 Current liabilities 17,167,450 14,939,496 Noncurrent liabilities 5,564,480 4,971,199 Joint ventures' equity 32,207,133 29,401,796 Northern Technologies International Corporation's share of Corporate Joint Ventures' equity $15,240,974 $13,602,842 November 30, November 30, 2007 2006 Net sales $23,944,115 $18,879,432 Gross profit 11,009,748 9,068,677 Net income 1,697,769 1,624,028 Northern Technologies International Corporation's share of equity in income of Corporate Joint Ventures $1,054,682 $635,219 Use of Non-GAAP Financial Measures
February 28, August 31, 2007 2006 Current assets $36,481,058 $33,954,156 Total assets 42,967,257 39,030,247 Current liabilities 13,733,953 14,323,903 Non-current liabilities 3,522,544 1,496,557 Joint ventures' equity 25,710,645 23,209,788 Northern Technologies International Corporation's share of Corporate Joint Ventures' equity $12,021,431 $10,772,102 February 28, February 28, 2007 2006 Net sales $39,272,049 $31,153,683 Gross profit 18,925,025 14,703,559 Net income 3,133,779 2,742,286 Northern Technologies International Corporation's share of equity in income of Corporate Joint Ventures $1,629,734 $1,315,326 About Northern Technologies International Corporation
18 for the three months ended November 30, 2005 primarily as a result of the $724,495 gain on the sale of assets partially offset by a decrease in equity in income at various industrial chemical corporate joint ventures.
NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION AND SUBSIDIARY November 30, November 30, 2006 2005 NORTH AMERICAN OPERATIONS: Net sales $4,617,374 $4,403,630 Cost of sales 2,945,055 2,729,111 Gross profit 1,672,319 1,674,519 Operating expenses: 1,676,962 1,454,268 NORTH AMERICAN OPERATING (LOSS) INCOME (4,643) 220,251 INCOME FROM ALL CORPORATE JOINT VENTURES AND HOLDING COMPANIES 451,811 677,994 INTEREST INCOME 935 26,801 INTEREST EXPENSE (42,881) (3,649) OTHER INCOME 2,093 - GAIN ON SALE OF ASSET 724,495 - MINORITY INTEREST (9,586) (15,412) INCOME BEFORE INCOME TAX EXPENSE 1,122,224 905,985 INCOME TAX EXPENSE 132,000 272,000 NET INCOME $990,224 $633,985 NET INCOME PER COMMON SHARE: Basic $0.
NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION AND SUBSIDIARY 2006 2005 NORTH AMERICAN OPERATIONS: Net sales $16,604,964 $14,816,672 Cost of sales 10,346,437 8,967,155 Gross profit 6,258,527 5,849,517 Operating expenses: 6,166,942 5,839,069 NORTH AMERICAN OPERATING INCOME 91,585 10,448 INCOME FROM ALL CORPORATE JOINT VENTURES AND HOLDING COMPANIES 1,926,463 1,128,315 INTEREST INCOME 34,251 96,282 INTEREST EXPENSE (94,751) (36,090) OTHER INCOME 3,233 - MINORITY INTEREST 12,284 10,326 INCOME BEFORE INCOME TAX EXPENSE 1,973,065 1,209,281 INCOME TAX EXPENSE 254,000 16,000 NET INCOME $1,719,065 $1,193,281 NET INCOME PER COMMON SHARE: Basic $0.
August 31, August 31, 2006 2005 Current assets $33,954,156 $22,949,103 Total assets 39,030,247 30,345,208 Current liabilities 14,323,903 11,263,369 Noncurrent liabilities 1,496,557 2,273,927 Joint ventures' equity 23,209,788 16,806,617 Northern Technologies International Corporation's share of Corporate Joint Ventures' equity $10,772,102 $8,622,361 August 31, August 31, 2006 2005 Net sales $63,959,090 $57,167,054 Gross profit 29,204,129 26,503,607 Net income 5,209,499 3,714,290 Northern Technologies International Corporation's share of equity in income of Corporate Joint Ventures $2,713,096 $1,968,777 About Northern Technologies International Corporation
NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION AND SUBSIDIARY November 30, November 30, 2005 2004 (Restated) NORTH AMERICAN OPERATIONS: Net sales $4,403,630 $3,832,216 Cost of sales 2,729,111 2,359,588 Gross profit 1,674,519 1,472,628 Operating expenses 1,454,268 1,579,522 NORTH AMERICAN OPERATING INCOME (LOSS) 220,251 (106,894) INCOME FROM ALL CORPORATE JOINT VENTURES AND HOLDING COMPANIES 677,994 339,984 INTEREST INCOME 26,801 14,032 INTEREST EXPENSE (3,649) - MINORITY INTEREST (15,412) (18,802) INCOME BEFORE INCOME BEFORE TAX 905,985 228,320 INCOME TAX EXPENSE (BENEFIT) 272,000 (119,000) NET INCOME $633,985 $347,320 NET INCOME PER COMMON SHARE: Basic $0.
August 31, 2005 August 31, 2004 Net sales $57,167,054 $44,121,671 Gross profit 26,503,607 21,298,915 Net income 3,714,290 2,958,018 Northern Technologies International Corporation's share of equity in income of Corporate Joint Ventures $1,968,777 $1,521,074 November 30, November 30, 2005 2004 Net sales $16,535,347 $14,679,164 Gross profit 7,454,578 6,726,863 Net income 1,539,415 1,070,658 Northern Technologies International Corporation's share of equity in income of Corporate Joint Ventures $729,518 $526,204

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