|
Statements Of Cash Flows (USD $)
|
6 Months Ended |
|
Sep. 30, 2012
|
Sep. 30, 2011
|
| OPERATING ACTIVITIES |
|
|
| Net income |
$ 5,820,541 |
$ 5,994,321 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation |
291,531 |
235,282 |
| Stock-based compensation |
66,720 |
80,160 |
| Excess tax benefits |
(2,383) |
0 |
| Deferred income taxes |
14,265 |
(18,861) |
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
723,158 |
624,700 |
| Inventories |
(293,112) |
(38,171) |
| Prepaid expenses and other assets |
(127,903) |
(169,689) |
| Accounts payable and accrued expenses |
(60,556) |
(324,240) |
| Net cash provided by operating activities |
6,432,261 |
6,383,502 |
| INVESTING ACTIVITIES |
|
|
| Purchases of fixed assets |
(1,019,269) |
(294,234) |
| Purchases of marketable securities |
(11,979,769) |
(9,504,221) |
| Proceeds from maturities and sales of marketable securities |
6,885,000 |
3,786,980 |
| Net cash used in investing activities |
(6,114,038) |
(6,011,475) |
| FINANCING ACTIVITIES |
|
|
| Net proceeds from sale of common stock |
69,420 |
0 |
| Excess tax benefits |
2,383 |
0 |
| Net cash provided by financing activities |
71,803 |
0 |
| Increase in cash and cash equivalents |
390,026 |
372,027 |
| Cash and cash equivalents at beginning of period |
1,544,536 |
952,209 |
| Cash and cash equivalents at end of period |
1,934,562 |
1,324,236 |
| Supplemental disclosures of cash flow information: |
|
|
| Cash paid during the period for income taxes |
$ 2,920,000 |
$ 2,947,565 |