|
Statements of Cash Flows (USD $)
|
12 Months Ended |
|
Mar. 31, 2013
|
Mar. 31, 2012
|
Mar. 31, 2011
|
| OPERATING ACTIVITIES |
|
|
|
| Net income |
$ 11,828,838 |
$ 11,381,095 |
$ 13,360,945 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Depreciation |
647,163 |
500,121 |
411,547 |
| Stock-based compensation |
66,720 |
80,160 |
76,720 |
| Excess tax benefits |
(15,734) |
0 |
(230,173) |
| Deferred income taxes |
51,262 |
(12,850) |
294,384 |
| Changes in operating assets and liabilities: |
|
|
|
| Accounts receivable |
163,445 |
911,399 |
625,325 |
| Inventories |
(107,216) |
114,481 |
(1,637,430) |
| Prepaid expenses and other assets |
201,705 |
25,454 |
(404,012) |
| Accounts payable and accrued expenses |
(190,881) |
(187,950) |
332,334 |
| Deferred revenue |
0 |
0 |
(20,833) |
| Net cash provided by operating activities |
12,645,302 |
12,811,910 |
12,808,807 |
| INVESTING ACTIVITIES |
|
|
|
| Purchases of fixed assets |
(1,824,324) |
(1,480,237) |
(732,800) |
| Purchases of marketable securities |
(27,209,753) |
(18,501,362) |
(14,742,032) |
| Proceeds from maturities and sales of marketable securities |
17,194,000 |
7,761,980 |
1,580,068 |
| Net cash used in investing activities |
(11,840,077) |
(12,219,619) |
(13,894,764) |
| FINANCING ACTIVITIES |
|
|
|
| Net proceeds from sale of common stock |
144,188 |
36 |
418,705 |
| Excess tax benefits |
15,734 |
0 |
230,173 |
| Net cash provided by financing activities |
159,922 |
36 |
648,878 |
| Increase (decrease) in cash and cash equivalents |
965,147 |
592,327 |
(437,079) |
| Cash and cash equivalents at beginning of period |
1,544,536 |
952,209 |
1,389,288 |
| Cash and cash equivalents at end of period |
2,509,683 |
1,544,536 |
952,209 |
| Supplemental disclosures of cash flow information: |
|
|
|
| Cash (refunded) paid during the period for income taxes |
$ 5,202,616 |
$ 5,207,565 |
$ 6,303,598 |