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STATEMENTS OF INCOME (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Revenue        
Product sales $ 6,366,009 $ 7,200,385 $ 22,183,223 $ 24,787,885
Contract research and development 390,251 201,293 537,727 668,024
Total revenue 6,756,260 7,401,678 22,720,950 25,455,909
Cost of sales 1,355,067 1,478,372 5,034,556 5,533,000
Gross profit 5,401,193 5,923,306 17,686,394 19,922,909
Expenses        
Research and development 540,895 700,609 1,920,095 1,972,505
Selling, general, and administrative 389,311 403,449 1,298,211 1,210,395
Total expenses 930,206 1,104,058 3,227,820 3,182,900
Provision for credit losses     9,514 0
Income from operations 4,470,987 4,819,248 14,458,574 16,740,009
Interest income 491,671 406,092 1,440,289 1,040,528
Income before taxes 4,962,658 5,225,340 15,898,863 17,780,537
Provision for income taxes 778,236 994,016 2,587,145 3,318,723
Net income $ 4,184,422 $ 4,231,324 $ 13,311,718 $ 14,461,814
Net income per share - basic $ 0.87 $ 0.88 $ 2.75 $ 2.99
Net income per share - diluted 0.87 0.88 2.75 2.99
Cash dividends declared per common share $ 1.00 $ 1.00 $ 3.00 $ 3.00
Weighted average shares outstanding        
Weighted Average Number of Shares Outstanding, Basic 4,833,401 4,830,826 4,832,992 4,830,826
Weighted Average Number of Shares Outstanding, Diluted 4,837,230 4,832,368 4,839,725 4,831,168