XML 22 R6.htm IDEA: XBRL DOCUMENT v3.3.0.814
Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Sep. 30, 2015
Sep. 30, 2014
OPERATING ACTIVITIES    
Net income $ 7,114,021 $ 7,912,732
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 414,634 464,517
Stock-based compensation 21,160 58,960
Excess tax benefits (352,294) (24,288)
Deferred income taxes 340,608 138,992
Changes in operating assets and liabilities:    
Accounts receivable 181,006 (1,346,822)
Inventories 594,624 (182,060)
Prepaid expenses and other assets (60,410) (32,252)
Accounts payable and accrued expenses (412,767) 10,587
Net cash provided by operating activities 7,840,582 7,000,366
INVESTING ACTIVITIES    
Purchases of fixed assets (146,505) (27,710)
Purchases of marketable securities 266,240 (9,280,445)
Proceeds from maturities and sales of marketable securities 6,250,000 4,000,000
Net cash provided by (used in) investing activities 6,369,735 (5,308,155)
FINANCING ACTIVITIES    
Proceeds from sale of common stock 292,909 302,701
Excess tax benefits 352,294 $ 24,288
Repurchase of common stock (1,851,290)
Payment of dividends to shareholders (9,725,174)
Net cash (used in) provided by financing activities (10,931,261) $ 326,989
Increase in cash and cash equivalents 3,279,056 2,019,200
Cash and cash equivalents at beginning of period 9,437,262 [1] 1,262,300
Cash and cash equivalents at end of period 12,716,318 3,281,500
Supplemental disclosures of cash flow information:    
Cash paid during the quarter for income taxes $ 3,240,000 $ 3,760,500
[1] The March 31, 2015 Balance Sheet is derived from the audited financial statements contained in our Annual Report on Form 10-K for the fiscal year ended March 31, 2015.