Statements of Income (Unaudited) - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2020 |
Sep. 30, 2019 |
Sep. 30, 2020 |
Sep. 30, 2019 |
|
| Revenue | ||||
| Revenue | $ 4,380,785 | $ 6,501,945 | $ 8,970,047 | $ 12,796,641 |
| Cost of sales | 941,287 | 1,346,098 | 1,777,709 | 2,438,135 |
| Gross profit | 3,439,498 | 5,155,847 | 7,192,338 | 10,358,506 |
| Expenses | ||||
| Research and development | 815,965 | 926,596 | 1,696,948 | 1,899,663 |
| Selling, general, and administrative | 358,182 | 368,450 | 713,193 | 698,459 |
| Total expenses | 1,174,147 | 1,295,046 | 2,410,141 | 2,598,122 |
| Income from operations | 2,265,351 | 3,860,801 | 4,782,197 | 7,760,384 |
| Interest income | 401,392 | 456,309 | 800,604 | 915,348 |
| Income before taxes | 2,666,743 | 4,317,110 | 5,582,801 | 8,675,732 |
| Provision for income taxes | 444,403 | 495,048 | 948,596 | 1,246,251 |
| Net income | $ 2,222,340 | $ 3,822,062 | $ 4,634,205 | $ 7,429,481 |
| Net income per share – basic (in dollars per share) | $ 0.46 | $ 0.79 | $ 0.96 | $ 1.53 |
| Net income per share – diluted (in dollars per share) | 0.46 | 0.79 | 0.96 | 1.53 |
| Cash dividends declared per common share (in dollars per share) | $ 1 | $ 1 | $ 2 | $ 2 |
| Weighted average shares outstanding | ||||
| Basic (in shares) | 4,834,709 | 4,846,010 | 4,834,872 | 4,846,010 |
| Diluted (in shares) | 4,834,809 | 4,847,881 | 4,834,986 | 4,849,357 |
| Product [Member] | ||||
| Revenue | ||||
| Revenue | $ 4,159,173 | $ 6,187,708 | $ 8,517,808 | $ 12,273,072 |
| Contract Research and Development [Member] | ||||
| Revenue | ||||
| Revenue | $ 221,612 | $ 314,237 | $ 452,239 | $ 523,569 |