|
Statements Of Cash Flows (USD $)
|
9 Months Ended |
|
Dec. 31, 2013
|
Dec. 31, 2012
|
| OPERATING ACTIVITIES |
|
|
| Net income |
$ 8,573,650 |
$ 8,719,883 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation |
601,241 |
457,937 |
| Stock-based compensation |
53,200 |
66,720 |
| Excess tax benefits |
(67,044) |
(2,383) |
| Deferred income taxes |
102,118 |
27,320 |
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
731,905 |
63,060 |
| Inventories |
306,689 |
(526,147) |
| Prepaid expenses and other assets |
(262,686) |
(173,167) |
| Accounts payable and accrued expenses |
(221,045) |
(211,143) |
| Net cash provided by operating activities |
9,818,028 |
8,422,080 |
| INVESTING ACTIVITIES |
|
|
| Purchases of fixed assets |
(33,893) |
(1,607,130) |
| Purchases of marketable securities |
(17,879,202) |
(17,438,274) |
| Proceeds from maturities and sales of marketable securities |
8,555,000 |
9,850,000 |
| Net cash used in investing activities |
(9,358,095) |
(9,195,404) |
| FINANCING ACTIVITIES |
|
|
| Net proceeds from sale of common stock |
188,030 |
69,428 |
| Excess tax benefits |
67,044 |
2,383 |
| Repurchase of common stock |
(1,263,405) |
0 |
| Net cash provided by financing activities |
(1,008,331) |
71,811 |
| Increase in cash and cash equivalents |
(548,398) |
(701,513) |
| Cash and cash equivalents at beginning of period |
2,509,683 |
1,544,536 |
| Cash and cash equivalents at end of period |
1,961,285 |
843,023 |
| Supplemental disclosures of cash flow information: |
|
|
| Cash paid during the period for income taxes |
$ 4,213,033 |
$ 4,220,000 |