|
Statements of Income (USD $)
|
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Revenue | ||||
| Product sales | $ 5,394,758 | $ 6,686,451 | $ 17,975,331 | $ 19,290,839 |
| Contract research and development | 763,768 | 1,277,057 | 2,995,590 | 3,723,123 |
| Total revenue | 6,158,526 | 7,963,508 | 20,970,921 | 23,013,962 |
| Cost of sales | 2,174,878 | 2,461,798 | 7,048,396 | 7,142,528 |
| Gross profit | 3,983,648 | 5,501,710 | 13,922,525 | 15,871,434 |
| Expenses | ||||
| Selling, general , and administrative | 520,044 | 638,223 | 1,742,721 | 1,901,156 |
| Research and development | 718,688 | 330,681 | 1,825,159 | 982,217 |
| Total expenses | 1,238,732 | 968,904 | 3,567,880 | 2,883,373 |
| Income from operations | 2,744,916 | 4,532,806 | 10,354,645 | 12,988,061 |
| Interest income | 591,694 | 512,203 | 1,754,586 | 1,485,664 |
| Income before taxes | 3,336,610 | 5,045,009 | 12,109,231 | 14,473,725 |
| Provision for income taxes | 1,047,519 | 1,661,090 | 3,825,819 | 4,782,699 |
| Net income | $ 2,289,091 | $ 3,383,919 | $ 8,283,412 | $ 9,691,026 |
| Net income per share - basic | $ 0.48 | $ 0.71 | $ 1.73 | $ 2.06 |
| Net income per share - diluted | $ 0.47 | $ 0.70 | $ 1.71 | $ 2.00 |
| Weighted average shares outstanding | ||||
| Basic | 4,807,859 | 4,743,643 | 4,786,790 | 4,714,989 |
| Diluted | 4,873,429 | 4,866,617 | 4,852,360 | 4,837,963 |