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Statements of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Revenue        
Product sales $ 7,116,931 $ 5,025,041 $ 19,782,529 $ 19,197,578
Contract research and development 345,748 990,974 1,690,461 2,419,113
Total revenue 7,462,679 6,016,015 21,472,990 21,616,691
Cost of sales 1,502,848 1,508,361 4,628,840 5,146,803
Gross profit 5,959,831 4,507,654 16,844,150 16,469,888
Expenses        
Selling, general, and administrative 384,322 406,676 1,117,925 1,416,071
Research and development 826,816 738,657 2,353,372 2,048,620
Total expenses 1,211,138 1,145,333 3,471,297 3,464,691
Income from operations 4,748,693 3,362,321 13,372,853 13,005,197
Interest income 395,207 468,367 1,263,924 1,422,696
Income before taxes 5,143,900 3,830,688 14,636,777 14,427,893
Provision for income taxes 1,660,156 1,253,237 4,715,291 4,736,421
Net income $ 3,483,744 $ 2,577,451 $ 9,921,486 $ 9,691,472
Net income per share – basic (in dollars per share) $ 0.72 $ 0.53 $ 2.05 $ 2
Net income per share – diluted (in dollars per share) 0.72 0.53 2.05 2
Cash dividends declared per common share (in dollars per share) $ 1 $ 1 $ 3 $ 3
Weighted average shares outstanding        
Basic (in shares) 4,836,336 4,844,845 4,835,639 4,853,970
Diluted (in shares) 4,839,777 4,846,970 4,837,815 4,857,103