Statements of Cash Flows - USD ($)
|
12 Months Ended |
Mar. 31, 2016 |
Mar. 31, 2015 |
Mar. 31, 2014 |
| OPERATING ACTIVITIES |
|
|
|
| Net income |
$ 12,292,315
|
$ 14,368,354
|
$ 11,135,875
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Depreciation and amortization |
850,970
|
934,371
|
844,339
|
| Stock-based compensation |
21,160
|
58,960
|
53,200
|
| Excess tax benefits |
(352,294)
|
(24,288)
|
(57,472)
|
| Deferred income taxes |
295,827
|
155,713
|
121,881
|
| Changes in operating assets and liabilities |
|
|
|
| Accounts receivable |
719,888
|
(632,400)
|
189,821
|
| Inventories |
537,259
|
(535,159)
|
129,259
|
| Prepaid expenses and other assets |
(159,611)
|
241,363
|
141,871
|
| Accounts payable and accrued expenses |
(611,290)
|
$ 303,152
|
$ (157,350)
|
| Deferred revenue |
714,805
|
|
|
| Net cash provided by operating activities |
14,309,029
|
$ 14,870,066
|
$ 12,401,424
|
| INVESTING ACTIVITIES |
|
|
|
| Purchases of fixed assets |
(287,275)
|
(185,007)
|
(160,718)
|
| Purchases of marketable securities |
(14,568,089)
|
(8,997,086)
|
(22,753,916)
|
| Proceeds from maturities of marketable securities |
19,725,000
|
12,160,000
|
10,055,000
|
| Net cash provided by (used in) investing activities |
4,869,636
|
2,977,907
|
(12,859,634)
|
| FINANCING ACTIVITIES |
|
|
|
| Proceeds from sale of common stock |
292,909
|
302,701
|
416,760
|
| Excess tax benefits |
352,294
|
$ 24,288
|
57,472
|
| Repurchase of common stock |
(2,311,673)
|
|
$ (1,263,405)
|
| Payment of dividends to shareholders |
(19,414,864)
|
$ (10,000,000)
|
|
| Net cash used in financing activities |
(21,081,334)
|
(9,673,011)
|
$ (789,173)
|
| (Decrease) increase in cash and cash equivalents |
(1,902,669)
|
8,174,962
|
(1,247,383)
|
| Cash and cash equivalents at beginning of year |
9,437,262
|
1,262,300
|
2,509,683
|
| Cash and cash equivalents at end of year |
7,534,593
|
9,437,262
|
1,262,300
|
| Supplemental disclosures of cash flow information: |
|
|
|
| Cash paid during the year for income taxes |
$ 5,810,000
|
$ 6,800,000
|
$ 5,263,033
|