Statements of Income (Unaudited) - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2015 |
Sep. 30, 2014 |
Sep. 30, 2015 |
Sep. 30, 2014 |
|
| Revenue | ||||
| Product sales | $ 6,436,672 | $ 8,113,806 | $ 14,172,537 | $ 16,461,887 |
| Contract research and development | 843,085 | 153,567 | 1,428,139 | 258,521 |
| Total revenue | 7,279,757 | 8,267,373 | 15,600,676 | 16,720,408 |
| Cost of sales | 1,644,514 | 1,609,632 | 3,638,442 | 3,167,978 |
| Gross profit | 5,635,243 | 6,657,741 | 11,962,234 | 13,552,430 |
| Expenses | ||||
| Selling, general, and administrative | 524,631 | 625,599 | 1,009,395 | 1,255,249 |
| Research and development | 628,962 | 787,279 | 1,309,963 | 1,590,707 |
| Total expenses | 1,153,593 | 1,412,878 | 2,319,358 | 2,845,956 |
| Income from operations | 4,481,650 | 5,244,863 | 9,642,876 | 10,706,474 |
| Interest income | 468,531 | 562,923 | 954,329 | 1,111,477 |
| Income before taxes | 4,950,181 | 5,807,786 | 10,597,205 | 11,817,951 |
| Provision for income taxes | 1,639,386 | 1,932,164 | 3,483,184 | 3,905,219 |
| Net income | $ 3,310,795 | $ 3,875,622 | $ 7,114,021 | $ 7,912,732 |
| Net income per share – basic (in dollars per share) | $ 0.68 | $ 0.80 | $ 1.46 | $ 1.63 |
| Net income per share – diluted (in dollars per share) | 0.68 | $ 0.80 | 1.46 | $ 1.63 |
| Cash dividends declared per common share (in dollars per share) | $ 1 | $ 2 | ||
| Weighted average shares outstanding | ||||
| Basic (in shares) | 4,855,398 | 4,855,071 | 4,858,557 | 4,853,068 |
| Diluted (in shares) | 4,858,133 | 4,872,029 | 4,862,431 | 4,868,769 |