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Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenue $ 6,823,462 $ 4,380,785 $ 13,976,625 $ 8,970,047
Cost of sales 1,544,134 941,287 3,313,715 1,777,709
Gross profit 5,279,328 3,439,498 10,662,910 7,192,338
Expenses        
Research and development 707,997 815,965 1,516,139 1,696,948
Selling, general, and administrative 483,116 358,182 949,734 713,193
Total expenses 1,191,113 1,174,147 2,465,873 2,410,141
Income from operations 4,088,215 2,265,351 8,197,037 4,782,197
Interest income 294,858 401,392 584,578 800,604
Income before taxes 4,383,073 2,666,743 8,781,615 5,582,801
Provision for income taxes 736,566 444,403 1,555,542 948,596
Net income $ 3,646,507 $ 2,222,340 $ 7,226,073 $ 4,634,205
Net income per share – basic (in dollars per share) $ 0.75 $ 0.46 $ 1.50 $ 0.96
Net income per share – diluted (in dollars per share) 0.75 0.46 1.49 0.96
Cash dividends declared per common share (in dollars per share) $ 1.00 $ 1.00 $ 2.00 $ 2.00
Weighted average shares outstanding        
Weighted average common shares outstanding – basic (in shares) 4,833,232 4,834,709 4,833,232 4,834,872
Diluted (in shares) 4,836,603 4,834,809 4,836,621 4,834,986
Revenue $ 6,823,462 $ 4,380,785 $ 13,976,625 $ 8,970,047
Cost of sales 1,544,134 941,287 3,313,715 1,777,709
Gross profit 5,279,328 3,439,498 10,662,910 7,192,338
Product [Member]        
Revenue 6,630,012 4,159,173 13,583,778 8,517,808
Weighted average shares outstanding        
Revenue 6,630,012 4,159,173 13,583,778 8,517,808
Contract Research and Development [Member]        
Revenue 193,450 221,612 392,847 452,239
Weighted average shares outstanding        
Revenue $ 193,450 $ 221,612 $ 392,847 $ 452,239