Statements of Income (Unaudited) - USD ($) |
3 Months Ended | |
|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
|
| Revenue | ||
| Product sales | $ 5,851,214 | $ 7,735,865 |
| Contract research and development | 856,558 | 585,054 |
| Total revenue | 6,707,772 | 8,320,919 |
| Cost of sales | 1,385,178 | 1,993,928 |
| Gross profit | 5,322,594 | 6,326,991 |
| Expenses | ||
| Selling, general, and administrative | 389,915 | 484,764 |
| Research and development | 758,368 | 681,001 |
| Total expenses | 1,148,283 | 1,165,765 |
| Income from operations | 4,174,311 | 5,161,226 |
| Interest income | 437,734 | 485,798 |
| Income before taxes | 4,612,045 | 5,647,024 |
| Provision for income taxes | 1,479,500 | 1,843,798 |
| Net income | $ 3,132,545 | $ 3,803,226 |
| Net income per share – basic (in dollars per share) | $ 0.65 | $ 0.78 |
| Net income per share – diluted (in dollars per share) | 0.65 | 0.78 |
| Cash dividends declared per common share (in dollars per share) | $ 1 | $ 1 |
| Weighted average shares outstanding | ||
| Basic (in shares) | 4,835,010 | 4,854,841 |
| Diluted (in shares) | 4,837,095 | 4,860,848 |