Note 7 - Income Taxes (Tables)

12 Months Ended

Mar. 31, 2016

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		Year Ended March 31
		2016			2015		2014
Current taxes
Federal	$	5,754,428		$	6,608,923	$	5,010,734
State		186,822			330,971		304,931
Deferred taxes
Federal		(55,254	)		125,070		61,306
State		(1,214	)		6,356		3,103
Income tax provision	$	5,884,782		$	7,071,320	$	5,380,074

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Year Ended March 31
	2016			2015			2014
Tax expense at U.S. statutory rate	$	6,272,341		$	7,503,886		$	5,667,281
State income taxes, net of Federal benefit		118,057			216,518			199,751
Domestic manufacturing deduction		(476,932	)		(600,207	)		(443,708	)
Municipal interest		(4,171	)		(11,489	)		(28,456	)
Other		(24,513	)		(37,388	)		(14,794	)
Income tax provision	$	5,884,782		$	7,071,320		$	5,380,074

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	March 31
	2016			2015
Vacation accrual	$	118,611		$	114,217
Inventory reserve		90,825			65,394
Depreciationand amortization		(30,174	)		(63,631	)
Stock-based compensation deductions		115,257			107,570
Unrealized gain on marketable securities		(257,545	)		(425,922	)
Other		14,214			28,716
Net deferred tax assets (liabilities)	$	51,188		$	(173,656	)
Reported as:
Deferred tax assets	$	-		$	102,052
Long-term deferred tax assets		51,188			-
Long-term deferred tax liabilities		-			(275,708	)
Net deferred tax assets (liabilities)	$	51,188		$	(173,656	)