Statements of Income (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Revenue | ||||
| Revenue | $ 6,269,405 | $ 7,360,789 | $ 20,883,386 | $ 21,964,689 |
| Cost of sales | 1,169,406 | 1,657,700 | 3,918,256 | 4,809,235 |
| Gross profit | 5,099,999 | 5,703,089 | 16,965,130 | 17,155,454 |
| Expenses | ||||
| Research and development | 1,126,975 | 852,739 | 3,087,964 | 2,788,968 |
| Selling, general, and administrative | 268,905 | 313,033 | 975,114 | 1,060,757 |
| Total expenses | 1,395,880 | 1,165,772 | 4,063,078 | 3,849,725 |
| Income from operations | 3,704,119 | 4,537,317 | 12,902,052 | 13,305,729 |
| Interest income | 457,204 | 404,665 | 1,325,299 | 1,154,303 |
| Income before taxes | 4,161,323 | 4,941,982 | 14,227,351 | 14,460,032 |
| Provision for income taxes | 739,918 | 1,370,380 | 2,578,287 | 4,429,780 |
| Net income | $ 3,421,405 | $ 3,571,602 | $ 11,649,064 | $ 10,030,252 |
| Net income per share – basic (in dollars per share) | $ 0.71 | $ 0.74 | $ 2.41 | $ 2.07 |
| Net income per share – diluted (in dollars per share) | 0.71 | 0.74 | 2.40 | 2.07 |
| Cash dividends declared per common share (in dollars per share) | $ 1 | $ 1 | $ 3 | $ 3 |
| Weighted average shares outstanding | ||||
| Basic (in shares) | 4,845,010 | 4,841,369 | 4,843,355 | 4,841,130 |
| Diluted (in shares) | 4,850,507 | 4,847,290 | 4,850,120 | 4,846,036 |
| Product [Member] | ||||
| Revenue | ||||
| Revenue | $ 5,991,241 | $ 6,448,831 | $ 19,916,864 | $ 19,718,584 |
| Contract Research and Development [Member] | ||||
| Revenue | ||||
| Revenue | $ 278,164 | $ 911,958 | $ 966,522 | $ 2,246,105 |