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Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenue        
Product sales $ 6,436,672 $ 8,113,806 $ 14,172,537 $ 16,461,887
Contract research and development 843,085 153,567 1,428,139 258,521
Total revenue 7,279,757 8,267,373 15,600,676 16,720,408
Cost of sales 1,644,514 1,609,632 3,638,442 3,167,978
Gross profit 5,635,243 6,657,741 11,962,234 13,552,430
Expenses        
Selling, general, and administrative 524,631 625,599 1,009,395 1,255,249
Research and development 628,962 787,279 1,309,963 1,590,707
Total expenses 1,153,593 1,412,878 2,319,358 2,845,956
Income from operations 4,481,650 5,244,863 9,642,876 10,706,474
Interest income 468,531 562,923 954,329 1,111,477
Income before taxes 4,950,181 5,807,786 10,597,205 11,817,951
Provision for income taxes 1,639,386 1,932,164 3,483,184 3,905,219
Net income $ 3,310,795 $ 3,875,622 $ 7,114,021 $ 7,912,732
Net income per share – basic (in dollars per share) $ 0.68 $ 0.80 $ 1.46 $ 1.63
Net income per share – diluted (in dollars per share) 0.68 $ 0.80 1.46 $ 1.63
Cash dividends declared per common share (in dollars per share) $ 1 $ 2
Weighted average shares outstanding        
Basic (in shares) 4,855,398 4,855,071 4,858,557 4,853,068
Diluted (in shares) 4,858,133 4,872,029 4,862,431 4,868,769