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Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenue        
Revenue $ 6,501,945 $ 7,506,075 $ 12,796,641 $ 14,613,981
Cost of sales 1,346,098 1,352,845 2,438,135 2,748,850
Gross profit 5,155,847 6,153,230 10,358,506 11,865,131
Expenses        
Research and development 926,596 971,963 1,899,663 1,960,989
Selling, general, and administrative 368,450 377,448 698,459 706,209
Total expenses 1,295,046 1,349,411 2,598,122 2,667,198
Income from operations 3,860,801 4,803,819 7,760,384 9,197,933
Interest income 456,309 443,325 915,348 868,095
Income before taxes 4,317,110 5,247,144 8,675,732 10,066,028
Provision for income taxes 495,048 964,534 1,246,251 1,838,369
Net income $ 3,822,062 $ 4,282,610 $ 7,429,481 $ 8,227,659
Net income per share – basic (in dollars per share) $ 0.79 $ 0.88 $ 1.53 $ 1.70
Net income per share – diluted (in dollars per share) 0.79 0.88 1.53 1.70
Cash dividends declared per common share (in dollars per share) $ 1 $ 1 $ 2 $ 2
Weighted average shares outstanding        
Basic (in shares) 4,846,010 4,843,032 4,846,010 4,842,524
Diluted (in shares) 4,847,881 4,852,644 4,849,357 4,851,072
Product [Member]        
Revenue        
Revenue $ 6,187,708 $ 7,054,977 $ 12,273,072 $ 13,925,623
Contract Research and Development [Member]        
Revenue        
Revenue $ 314,237 $ 451,098 $ 523,569 $ 688,358