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Statements of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Revenue        
Product sales $ 6,448,831 $ 7,116,931 $ 19,718,584 $ 19,782,529
Contract research and development 911,958 345,748 2,246,105 1,690,461
Total revenue 7,360,789 7,462,679 21,964,689 21,472,990
Cost of sales 1,657,700 1,502,848 4,809,235 4,628,840
Gross profit 5,703,089 5,959,831 17,155,454 16,844,150
Expenses        
Selling, general, and administrative 313,033 384,322 1,060,757 1,117,925
Research and development 852,739 826,816 2,788,968 2,353,372
Total expenses 1,165,772 1,211,138 3,849,725 3,471,297
Income from operations 4,537,317 4,748,693 13,305,729 13,372,853
Interest income 404,665 395,207 1,154,303 1,263,924
Income before taxes 4,941,982 5,143,900 14,460,032 14,636,777
Provision for income taxes 1,370,380 1,660,156 4,429,780 4,715,291
Net income $ 3,571,602 $ 3,483,744 $ 10,030,252 $ 9,921,486
Net income per share – basic (in dollars per share) $ 0.74 $ 0.72 $ 2.07 $ 2.05
Net income per share – diluted (in dollars per share) 0.74 0.72 2.07 2.05
Cash dividends declared per common share (in dollars per share) $ 1 $ 1 $ 3 $ 3
Weighted average shares outstanding        
Basic (in shares) 4,841,369 4,836,336 4,841,130 4,835,639
Diluted (in shares) 4,847,290 4,839,777 4,846,036 4,837,815