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Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenue        
Product sales $ 6,814,384 $ 6,436,672 $ 12,665,598 $ 14,172,537
Contract research and development 488,155 843,085 1,344,713 1,428,139
Total revenue 7,302,539 7,279,757 14,010,311 15,600,676
Cost of sales 1,740,814 1,644,514 3,125,992 3,638,442
Gross profit 5,561,725 5,635,243 10,884,319 11,962,234
Expenses        
Selling, general, and administrative 343,688 524,631 733,603 1,009,395
Research and development 768,188 628,962 1,526,556 1,309,963
Total expenses 1,111,876 1,153,593 2,260,159 2,319,358
Income from operations 4,449,849 4,481,650 8,624,160 9,642,876
Interest income 430,983 468,531 868,717 954,329
Income before taxes 4,880,832 4,950,181 9,492,877 10,597,205
Provision for income taxes 1,575,635 1,639,386 3,055,135 3,483,184
Net income $ 3,305,197 $ 3,310,795 $ 6,437,742 $ 7,114,021
Net income per share – basic (in dollars per share) $ 0.68 $ 0.68 $ 1.33 $ 1.46
Net income per share – diluted (in dollars per share) 0.68 0.68 1.33 1.46
Cash dividends declared per common share (in dollars per share) $ 1 $ 1 $ 2 $ 2
Weighted average shares outstanding        
Basic (in shares) 4,835,564 4,855,398 4,835,289 4,858,557
Diluted (in shares) 4,837,819 4,858,133 4,837,293 4,862,431