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STATEMENTS OF INCOME (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue        
Product sales $ 7,117,122 $ 10,514,539 $ 15,817,214 $ 17,587,500
Contract research and development 16,154 203,285 147,476 466,731
Total revenue 7,133,276 10,717,824 15,964,690 18,054,231
Cost of sales 1,599,866 2,402,781 3,679,489 4,054,628
Gross profit 5,533,410 8,315,043 12,285,201 13,999,603
Expenses        
Research and development 683,208 669,978 1,379,200 1,271,896
Selling, general, and administrative 433,785 435,625 908,900 806,946
Provision for credit losses (202,926) 9,514
Total expenses 914,067 1,105,603 2,297,614 2,078,842
Income from operations 4,619,343 7,209,440 9,987,587 11,920,761
Interest income 512,092 351,375 948,618 634,436
Income before taxes 5,131,435 7,560,815 10,936,205 12,555,197
Provision for income taxes 407,869 1,470,442 1,808,909 2,324,707
Net income $ 4,723,566 $ 6,090,373 $ 9,127,296 $ 10,230,490
Net income per share – basic $ 0.98 $ 1.26 $ 1.89 $ 2.12
Net income per share – diluted 0.98 1.26 1.89 2.12
Cash dividends declared per common share $ 1.00 $ 1.00 $ 2.00 $ 2.00
Weighted average shares outstanding        
Basic 4,833,401 4,830,826 4,832,786 4,830,826
Diluted 4,840,770 4,830,956 4,840,688 4,830,927
Net income $ 4,723,566 $ 6,090,373 $ 9,127,296 $ 10,230,490