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Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenue        
Revenue $ 4,380,785 $ 6,501,945 $ 8,970,047 $ 12,796,641
Cost of sales 941,287 1,346,098 1,777,709 2,438,135
Gross profit 3,439,498 5,155,847 7,192,338 10,358,506
Expenses        
Research and development 815,965 926,596 1,696,948 1,899,663
Selling, general, and administrative 358,182 368,450 713,193 698,459
Total expenses 1,174,147 1,295,046 2,410,141 2,598,122
Income from operations 2,265,351 3,860,801 4,782,197 7,760,384
Interest income 401,392 456,309 800,604 915,348
Income before taxes 2,666,743 4,317,110 5,582,801 8,675,732
Provision for income taxes 444,403 495,048 948,596 1,246,251
Net income $ 2,222,340 $ 3,822,062 $ 4,634,205 $ 7,429,481
Net income per share – basic (in dollars per share) $ 0.46 $ 0.79 $ 0.96 $ 1.53
Net income per share – diluted (in dollars per share) 0.46 0.79 0.96 1.53
Cash dividends declared per common share (in dollars per share) $ 1 $ 1 $ 2 $ 2
Weighted average shares outstanding        
Basic (in shares) 4,834,709 4,846,010 4,834,872 4,846,010
Diluted (in shares) 4,834,809 4,847,881 4,834,986 4,849,357
Product [Member]        
Revenue        
Revenue $ 4,159,173 $ 6,187,708 $ 8,517,808 $ 12,273,072
Contract Research and Development [Member]        
Revenue        
Revenue $ 221,612 $ 314,237 $ 452,239 $ 523,569