Statements of Income (Unaudited) - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
|
| Revenue | ||||
| Revenue | $ 7,506,075 | $ 6,996,234 | $ 14,613,981 | $ 14,603,900 |
| Cost of sales | 1,352,845 | 1,353,169 | 2,748,850 | 3,151,535 |
| Gross profit | 6,153,230 | 5,643,065 | 11,865,131 | 11,452,365 |
| Expenses | ||||
| Research and development | 971,963 | 1,030,504 | 1,960,989 | 1,936,229 |
| Selling, general, and administrative | 377,448 | 348,363 | 706,209 | 747,724 |
| Total expenses | 1,349,411 | 1,378,867 | 2,667,198 | 2,683,953 |
| Income from operations | 4,803,819 | 4,264,198 | 9,197,933 | 8,768,412 |
| Interest income | 443,325 | 387,860 | 868,095 | 749,638 |
| Income before taxes | 5,247,144 | 4,652,058 | 10,066,028 | 9,518,050 |
| Provision for income taxes | 964,534 | 1,491,023 | 1,838,369 | 3,059,400 |
| Net income | $ 4,282,610 | $ 3,161,035 | $ 8,227,659 | $ 6,458,650 |
| Net income per share – basic (in dollars per share) | $ 0.88 | $ 0.65 | $ 1.70 | $ 1.33 |
| Net income per share – diluted (in dollars per share) | 0.88 | 0.65 | 1.70 | 1.33 |
| Cash dividends declared per common share (in dollars per share) | $ 1 | $ 1 | $ 2 | $ 2 |
| Weighted average shares outstanding | ||||
| Basic (in shares) | 4,843,032 | 4,841,010 | 4,842,524 | 4,841,010 |
| Diluted (in shares) | 4,852,644 | 4,845,632 | 4,851,072 | 4,845,907 |
| Product [Member] | ||||
| Revenue | ||||
| Revenue | $ 7,054,977 | $ 6,387,080 | $ 13,925,623 | $ 13,269,753 |
| Contract Research and Development [Member] | ||||
| Revenue | ||||
| Revenue | $ 451,098 | $ 609,154 | $ 688,358 | $ 1,334,147 |