Statements of Income (Unaudited) - USD ($) |
3 Months Ended | |
|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Revenue | ||
| Revenue | $ 4,589,262 | $ 6,294,696 |
| Cost of sales | 836,422 | 1,092,037 |
| Gross profit | 3,752,840 | 5,202,659 |
| Expenses | ||
| Research and development | 880,983 | 973,067 |
| Selling, general, and administrative | 355,011 | 330,009 |
| Total expenses | 1,235,994 | 1,303,076 |
| Income from operations | 2,516,846 | 3,899,583 |
| Interest income | 399,212 | 459,039 |
| Income before taxes | 2,916,058 | 4,358,622 |
| Provision for income taxes | 504,193 | 751,203 |
| Net income | $ 2,411,865 | $ 3,607,419 |
| Net income per share – basic (in dollars per share) | $ 0.50 | $ 0.74 |
| Net income per share – diluted (in dollars per share) | 0.50 | 0.74 |
| Cash dividends declared per common share (in dollars per share) | $ 1 | $ 1 |
| Weighted average shares outstanding | ||
| Basic (in shares) | 4,835,038 | 4,846,010 |
| Diluted (in shares) | 4,835,157 | 4,850,388 |
| Product [Member] | ||
| Revenue | ||
| Revenue | $ 4,358,635 | $ 6,085,364 |
| Contract Research and Development [Member] | ||
| Revenue | ||
| Revenue | $ 230,627 | $ 209,332 |