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Statements of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2020
Dec. 31, 2019
Revenue        
Revenue $ 6,533,362 $ 6,464,596 $ 15,503,409 $ 19,261,237
Cost of sales 1,075,048 1,263,806 2,852,757 3,701,941
Gross profit 5,458,314 5,200,790 12,650,652 15,559,296
Expenses        
Research and development 702,216 771,468 2,399,164 2,671,131
Selling, general, and administrative 311,356 327,989 1,024,549 1,026,448
Total expenses 1,013,572 1,099,457 3,423,713 3,697,579
Income from operations 4,444,742 4,101,333 9,226,939 11,861,717
Interest income 365,498 443,478 1,166,102 1,358,826
Income before taxes 4,810,240 4,544,811 10,393,041 13,220,543
Provision for income taxes 884,531 814,147 1,833,127 2,060,398
Net income $ 3,925,709 $ 3,730,664 $ 8,559,914 $ 11,160,145
Net income per share – basic (in dollars per share) $ 0.81 $ 0.77 $ 1.77 $ 2.30
Net income per share – diluted (in dollars per share) 0.81 0.77 1.77 2.30
Cash dividends declared per common share (in dollars per share) $ 1 $ 1 $ 3 $ 3
Weighted average shares outstanding        
Basic (in shares) 4,833,232 4,846,010 4,834,324 4,846,010
Diluted (in shares) 4,833,261 4,847,436 4,834,411 4,848,506
Product [Member]        
Revenue        
Revenue $ 6,332,349 $ 6,160,967 $ 14,850,157 $ 18,434,039
Contract Research and Development [Member]        
Revenue        
Revenue $ 201,013 $ 303,629 $ 653,252 $ 827,198