|
Statements Of Cash Flows (USD $)
|
6 Months Ended |
|
Sep. 30, 2014
|
Sep. 30, 2013
|
| OPERATING ACTIVITIES |
|
|
| Net income |
$ 7,912,732 |
$ 5,796,476 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation |
464,517 |
380,272 |
| Stock-based compensation |
58,960 |
53,200 |
| Excess tax benefits |
(24,288) |
0 |
| Deferred income taxes |
138,992 |
28,457 |
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
(1,346,822) |
(509,632) |
| Inventories |
(182,060) |
236,147 |
| Prepaid expenses and other assets |
(32,252) |
63,341 |
| Accounts payable and other current liabilities |
10,587 |
(54,230) |
| Net cash provided by operating activities |
7,000,366 |
5,994,031 |
| INVESTING ACTIVITIES |
|
|
| Purchases of fixed assets |
(27,710) |
0 |
| Purchases of marketable securities |
(9,280,445) |
(11,533,738) |
| Proceeds from maturities and sales of marketable securities |
4,000,000 |
5,855,000 |
| Net cash used in investing activities |
(5,308,155) |
(5,678,738) |
| FINANCING ACTIVITIES |
|
|
| Net proceeds from sale of common stock |
302,701 |
0 |
| Excess tax benefits |
24,288 |
0 |
| Repurchase of common stock |
0 |
(1,263,405) |
| Net cash provided by financing activities |
326,989 |
(1,263,405) |
| Increase in cash and cash equivalents |
2,019,200 |
(948,112) |
| Cash and cash equivalents at beginning of period |
1,262,300 |
2,509,683 |
| Cash and cash equivalents at end of period |
3,281,500 |
1,561,571 |
| Supplemental disclosures of cash flow information: |
|
|
| Cash paid during the period for income taxes |
$ 3,760,500 |
$ 2,838,033 |