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Statements of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Revenue $ 6,464,596 $ 6,269,405 $ 19,261,237 $ 20,883,386
Cost of sales 1,263,806 1,169,406 3,701,941 3,918,256
Gross profit 5,200,790 5,099,999 15,559,296 16,965,130
Research and development 771,468 1,126,975 2,671,131 3,087,964
Selling, general, and administrative 327,989 268,905 1,026,448 975,114
Total expenses 1,099,457 1,395,880 3,697,579 4,063,078
Income from operations 4,101,333 3,704,119 11,861,717 12,902,052
Interest income 443,478 457,204 1,358,826 1,325,299
Income before taxes 4,544,811 4,161,323 13,220,543 14,227,351
Provision for income taxes 814,147 739,918 2,060,398 2,578,287
Net income $ 3,730,664 $ 3,421,405 $ 11,160,145 $ 11,649,064
Net income per share – basic (in dollars per share) $ 0.77 $ 0.71 $ 2.30 $ 2.41
Net income per share – diluted (in dollars per share) 0.77 0.71 2.30 2.40
Cash dividends declared per common share (in dollars per share) $ 1 $ 1 $ 3 $ 3
Basic (in shares) 4,846,010 4,845,010 4,846,010 4,843,355
Diluted (in shares) 4,847,436 4,850,507 4,848,506 4,850,120
Product [Member]        
Revenue $ 6,160,967 $ 5,991,241 $ 18,434,039 $ 19,916,864
Contract Research and Development [Member]        
Revenue $ 303,629 $ 278,164 $ 827,198 $ 966,522