Statements of Cash Flows (Unaudited) - USD ($)
|
6 Months Ended |
Sep. 30, 2015 |
Sep. 30, 2014 |
| OPERATING ACTIVITIES |
|
|
|
| Net income |
$ 7,114,021
|
|
$ 7,912,732
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Depreciation |
414,634
|
|
464,517
|
| Stock-based compensation |
21,160
|
|
58,960
|
| Excess tax benefits |
(352,294)
|
|
(24,288)
|
| Deferred income taxes |
340,608
|
|
138,992
|
| Changes in operating assets and liabilities: |
|
|
|
| Accounts receivable |
181,006
|
|
(1,346,822)
|
| Inventories |
594,624
|
|
(182,060)
|
| Prepaid expenses and other assets |
(60,410)
|
|
(32,252)
|
| Accounts payable and accrued expenses |
(412,767)
|
|
10,587
|
| Net cash provided by operating activities |
7,840,582
|
|
7,000,366
|
| INVESTING ACTIVITIES |
|
|
|
| Purchases of fixed assets |
(146,505)
|
|
(27,710)
|
| Purchases of marketable securities |
266,240
|
|
(9,280,445)
|
| Proceeds from maturities and sales of marketable securities |
6,250,000
|
|
4,000,000
|
| Net cash provided by (used in) investing activities |
6,369,735
|
|
(5,308,155)
|
| FINANCING ACTIVITIES |
|
|
|
| Proceeds from sale of common stock |
292,909
|
|
302,701
|
| Excess tax benefits |
352,294
|
|
$ 24,288
|
| Repurchase of common stock |
(1,851,290)
|
|
|
| Payment of dividends to shareholders |
(9,725,174)
|
|
|
| Net cash (used in) provided by financing activities |
(10,931,261)
|
|
$ 326,989
|
| Increase in cash and cash equivalents |
3,279,056
|
|
2,019,200
|
| Cash and cash equivalents at beginning of period |
9,437,262
|
[1] |
1,262,300
|
| Cash and cash equivalents at end of period |
12,716,318
|
|
3,281,500
|
| Supplemental disclosures of cash flow information: |
|
|
|
| Cash paid during the quarter for income taxes |
$ 3,240,000
|
|
$ 3,760,500
|
|
|