Statements of Income - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Mar. 31, 2016 |
Mar. 31, 2015 |
Mar. 31, 2014 |
|
| Revenue | |||
| Product sales | $ 24,410,391 | $ 29,894,045 | $ 25,512,028 |
| Contract research and development | 3,306,887 | 690,043 | 422,879 |
| Total revenue | 27,717,278 | 30,584,088 | 25,934,907 |
| Cost of sales | 6,616,852 | 6,019,868 | 5,720,277 |
| Gross profit | 21,100,426 | 24,564,220 | 20,214,630 |
| Expenses | |||
| Selling, general, and administrative | 1,752,962 | 2,312,076 | 2,235,475 |
| Research and development | 3,061,184 | 3,000,193 | 3,585,339 |
| Total expenses | 4,814,146 | 5,312,269 | 5,820,814 |
| Income from operations | 16,286,280 | 19,251,951 | 14,393,816 |
| Interest income | 1,890,817 | 2,187,723 | 2,122,133 |
| Income before taxes | 18,177,097 | 21,439,674 | 16,515,949 |
| Provision for income taxes | 5,884,782 | 7,071,320 | 5,380,074 |
| Net income | $ 12,292,315 | $ 14,368,354 | $ 11,135,875 |
| Net income per share – basic (in dollars per share) | $ 2.53 | $ 2.96 | $ 2.30 |
| Net income per share – diluted (in dollars per share) | 2.53 | 2.95 | $ 2.29 |
| Cash dividends declared per common share (in dollars per share) | $ 4 | $ 2.06 | |
| Weighted average shares outstanding | |||
| Basic (in shares) | 4,850,209 | 4,855,504 | 4,851,460 |
| Diluted (in shares) | 4,852,602 | 4,871,935 | 4,867,691 |