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Consolidated Statements of Operations (unaudited) (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenues:        
Net sales $ 3,378 $ 1,683 $ 12,128 $ 13,457
Royalties 2,307,073 1,810,436 6,698,355 4,461,683
Licensing revenues 137,774 109,276 926,324 4,265,327
Consulting fees 0 0 0 46,667
Total Revenues 2,448,225 1,921,395 7,636,807 8,787,134
Costs and expenses:        
Research and development 293,221 224,150 947,119 707,015
General and administrative 1,375,477 1,245,145 3,614,125 4,172,687
Total Cost and Expenses 1,668,698 1,469,295 4,561,244 4,879,702
Operating income 779,527 452,100 3,075,563 3,907,432
Other income (expense):        
Interest income 8,292 7,813 27,556 41,061
Other income (expense) 0 0 0 14,479
Total other income (expense) 8,292 7,813 27,556 55,540
Income before expense for income tax 787,819 459,913 3,103,119 3,962,972
Income tax benefit (expense) (316,772) (190,077) (1,223,000) 2,567,328
Net income $ 471,047 $ 269,836 $ 1,880,119 $ 6,530,300
Basic net income per share (in dollars per share) $ 0.07 $ 0.04 $ 0.30 $ 1.03
Diluted net income per share (in dollars per share) $ 0.07 $ 0.04 $ 0.27 $ 0.92
Shares used in computation of basic net income per share (in shares) 6,343,210 6,362,951 6,341,031 6,337,237
Shares used in computation of diluted net income per share (in shares) 6,961,652 7,085,945 6,985,290 7,133,341