Statements of Cash Flows (Unaudited) - USD ($)
|
9 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
| OPERATING ACTIVITIES |
|
|
|
| Net income |
$ 9,691,472
|
|
$ 10,705,638
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Depreciation and amortization |
628,186
|
|
698,820
|
| Stock-based compensation |
21,160
|
|
58,960
|
| Excess tax benefits |
(352,294)
|
|
(24,288)
|
| Deferred income taxes |
305,391
|
|
141,060
|
| Changes in operating assets and liabilities: |
|
|
|
| Accounts receivable |
1,210,285
|
|
476,495
|
| Inventories |
633,581
|
|
(478,791)
|
| Prepaid expenses and other assets |
(328,655)
|
|
(709,502)
|
| Accounts payable and accrued expenses |
(625,422)
|
|
$ (20,142)
|
| Deferred revenue |
714,805
|
|
|
| Net cash provided by operating activities |
11,898,509
|
|
$ 10,848,250
|
| INVESTING ACTIVITIES |
|
|
|
| Purchases of fixed assets |
(177,449)
|
|
(114,139)
|
| Purchases of marketable securities |
(9,613,052)
|
|
(9,136,457)
|
| Proceeds from maturities and sales of marketable securities |
7,825,000
|
|
8,610,000
|
| Net cash used in investing activities |
(1,965,501)
|
|
(640,596)
|
| 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 |
(14,570,019)
|
|
|
| Net cash (used in) provided by financing activities |
(15,776,106)
|
|
$ 326,989
|
| (Decrease) increase in cash and cash equivalents |
(5,843,098)
|
|
10,534,643
|
| Cash and cash equivalents at beginning of period |
9,437,262
|
[1] |
1,262,300
|
| Cash and cash equivalents at end of period |
3,594,164
|
|
11,796,943
|
| Supplemental disclosures of cash flow information: |
|
|
|
| Cash paid during the period for income taxes |
$ 4,490,000
|
|
$ 5,600,000
|
|
|