Statements of Cash Flows (Unaudited) - USD ($)
|
3 Months Ended |
Jun. 30, 2015 |
Jun. 30, 2014 |
| OPERATING ACTIVITIES |
|
|
|
| Net income |
$ 3,803,226
|
|
$ 4,037,110
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Depreciation |
206,751
|
|
$ 230,915
|
| Excess tax benefits |
(318,521)
|
|
|
| Deferred income taxes |
311,876
|
|
$ 56,573
|
| Changes in operating assets and liabilities: |
|
|
|
| Accounts receivable |
(75,764)
|
|
(1,459,679)
|
| Inventories |
571,891
|
|
(85,423)
|
| Prepaid expenses and other assets |
(271,633)
|
|
(149,273)
|
| Accounts payable and accrued expenses |
944,896
|
|
1,853,045
|
| Net cash provided by operating activities |
5,172,722
|
|
4,483,268
|
| INVESTING ACTIVITIES |
|
|
|
| Purchases of fixed assets |
(23,057)
|
|
(27,710)
|
| Purchases of marketable securities |
136,978
|
|
(6,404,809)
|
| Proceeds from maturities and sales of marketable securities |
2,400,000
|
|
4,000,000
|
| Net cash provided by (used in) investing activities |
2,513,921
|
|
$ (2,432,519)
|
| Proceeds from sale of common stock |
262,749
|
|
|
| Excess tax benefits |
318,521
|
|
|
| Repurchase of common stock |
(556,787)
|
|
|
| Payment of dividends to shareholders |
(4,857,953)
|
|
|
| Net cash used in financing activities |
(4,833,470)
|
|
|
| Increase in cash and cash equivalents |
2,853,173
|
|
$ 2,050,749
|
| Cash and cash equivalents at beginning of period |
9,437,262
|
[1] |
1,262,300
|
| Cash and cash equivalents at end of period |
$ 12,290,435
|
|
$ 3,313,049
|
| Cash paid during the quarter for income taxes |
|
|
|
|
|