Document And Entity Information
Document And Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2017 | Apr. 28, 2017 | Sep. 30, 2016 | |
Document Information [Line Items] | |||
Entity Registrant Name | NVE CORP /NEW/ | ||
Entity Central Index Key | 724,910 | ||
Trading Symbol | nvec | ||
Current Fiscal Year End Date | --03-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 4,841,010 | ||
Entity Public Float | $ 144 | ||
Document Type | 10-K | ||
Document Period End Date | Mar. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Balance Sheets
Balance Sheets - USD ($) | Mar. 31, 2017 | Mar. 31, 2016 |
Current assets | ||
Cash and cash equivalents | $ 8,199,364 | $ 7,534,593 |
Marketable securities, short-term | 19,591,833 | 19,697,384 |
Accounts receivable, net of allowance for uncollectible accounts of $15,000 | 3,436,802 | 2,244,086 |
Inventories | 3,358,298 | 3,205,233 |
Prepaid expenses and other assets | 607,283 | 734,524 |
Total current assets | 35,193,580 | 33,415,820 |
Fixed assets | ||
Machinery and equipment | 9,007,455 | 8,840,033 |
Leasehold improvements | 1,644,419 | 1,539,965 |
10,651,874 | 10,379,998 | |
Less accumulated depreciation and amortization | 9,238,626 | 8,688,285 |
Net fixed assets | 1,413,248 | 1,691,713 |
Long-term deferred tax assets | 357,055 | 51,188 |
Marketable securities, long-term | 56,810,923 | 65,695,335 |
Total assets | 93,774,806 | 100,854,056 |
Current liabilities | ||
Accounts payable | 376,275 | 317,990 |
Accrued payroll and other | 576,313 | 556,674 |
Deferred revenue | 142,733 | 714,805 |
Total current liabilities | 1,095,321 | 1,589,469 |
Shareholders’ equity | ||
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,841,010 issued and outstanding as of March 31, 2017 and 4,835,010 issued and outstanding as of March 31, 2016 | 48,410 | 48,350 |
Additional paid-in capital | 19,507,348 | 19,205,682 |
Accumulated other comprehensive (loss) income | (38,298) | 451,359 |
Retained earnings | 73,162,025 | 79,559,196 |
Total shareholders’ equity | 92,679,485 | 99,264,587 |
Total liabilities and shareholders’ equity | $ 93,774,806 | $ 100,854,056 |
Balance Sheets (Parentheticals)
Balance Sheets (Parentheticals) - USD ($) | Mar. 31, 2017 | Mar. 31, 2016 |
Allowance for uncollectible accounts | $ 15,000 | $ 15,000 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 6,000,000 | 6,000,000 |
Common stock, shares issued (in shares) | 4,841,010 | 4,835,010 |
Common stock, shares outstanding (in shares) | 4,841,010 | 4,835,010 |
Statements of Income
Statements of Income - USD ($) | 12 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | |
Revenue | |||
Product sales | $ 26,182,453 | $ 24,410,391 | $ 29,894,045 |
Contract research and development | 2,143,743 | 3,306,887 | 690,043 |
Total revenue | 28,326,196 | 27,717,278 | 30,584,088 |
Cost of sales | 6,078,294 | 6,616,852 | 6,019,868 |
Gross profit | 22,247,902 | 21,100,426 | 24,564,220 |
Expenses | |||
Selling, general, and administrative | 1,458,598 | 1,752,962 | 2,312,076 |
Research and development | 3,344,101 | 3,061,184 | 3,000,193 |
Total expenses | 4,802,699 | 4,814,146 | 5,312,269 |
Income from operations | 17,445,203 | 16,286,280 | 19,251,951 |
Interest income | 1,650,808 | 1,890,817 | 2,187,723 |
Income before taxes | 19,096,011 | 18,177,097 | 21,439,674 |
Provision for income taxes | 6,147,142 | 5,884,782 | 7,071,320 |
Net income | $ 12,948,869 | $ 12,292,315 | $ 14,368,354 |
Net income per share – basic (in dollars per share) | $ 2.68 | $ 2.53 | $ 2.96 |
Net income per share – diluted (in dollars per share) | 2.68 | 2.53 | 2.95 |
Common Stock, Dividends, Per Share, Declared | $ 4 | $ 4 | $ 2.06 |
Weighted average shares outstanding | |||
Basic (in shares) | 4,836,602 | 4,850,209 | 4,855,504 |
Diluted (in shares) | 4,838,389 | 4,852,602 | 4,871,935 |
Statements of Comprehensive Inc
Statements of Comprehensive Income - USD ($) | 12 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | |
Net income | $ 12,948,869 | $ 12,292,315 | $ 14,368,354 |
Unrealized loss from marketable securities, net of tax | (489,657) | (295,088) | (131,410) |
Comprehensive income | $ 12,459,212 | $ 11,997,227 | $ 14,236,944 |
Statements of Shareholders' Equ
Statements of Shareholders' Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Comprehensive income: | |||||
Balance (in shares) | 4,851,043 | ||||
Balance (in shares) at Mar. 31, 2014 | 4,851,043 | ||||
Balance at Mar. 31, 2014 | $ 48,510 | $ 20,464,883 | $ 877,857 | $ 82,313,391 | $ 103,704,641 |
Exercise of stock options (in shares) | 6,910 | ||||
Exercise of stock options | $ 70 | 302,631 | 302,701 | ||
Comprehensive income: | |||||
Unrealized loss from marketable securities, net of tax | (131,410) | (131,410) | |||
Net income | 14,368,354 | 14,368,354 | |||
Total comprehensive income | 14,236,944 | ||||
Stock-based compensation | 58,960 | 58,960 | |||
Tax benefit of stock-based compensation | 24,288 | 24,288 | |||
Cash dividends declared | (10,000,000) | (10,000,000) | |||
Balance (in shares) | 4,851,043 | ||||
Balance at Mar. 31, 2015 | $ 48,580 | 20,850,762 | 746,447 | 86,681,745 | 108,327,534 |
Comprehensive income: | |||||
Exercise of stock options (in shares) | 6,910 | ||||
Exercise of stock options | $ 70 | 302,631 | 302,701 | ||
Repurchase of common stock | 0 | ||||
Balance (in shares) at Mar. 31, 2015 | 4,857,953 | ||||
Comprehensive income: | |||||
Balance (in shares) | 4,857,953 | ||||
Exercise of stock options (in shares) | 18,090 | ||||
Exercise of stock options | $ 181 | 292,728 | 292,909 | ||
Unrealized loss from marketable securities, net of tax | (295,088) | (295,088) | |||
Net income | 12,292,315 | 12,292,315 | |||
Total comprehensive income | 11,997,227 | ||||
Stock-based compensation | 21,160 | 21,160 | |||
Tax benefit of stock-based compensation | 352,294 | 352,294 | |||
Cash dividends declared | (19,414,864) | (19,414,864) | |||
Balance (in shares) | 4,857,953 | ||||
Balance at Mar. 31, 2016 | $ 48,350 | 19,205,682 | 451,359 | 79,559,196 | 99,264,587 |
Comprehensive income: | |||||
Exercise of stock options (in shares) | 18,090 | ||||
Exercise of stock options | $ 181 | 292,728 | 292,909 | ||
Repurchase of common stock (in shares) | (41,033) | ||||
Repurchase of common stock | $ (411) | (2,311,262) | (1,695,788) | ||
Balance (in shares) at Mar. 31, 2016 | 4,835,010 | ||||
Comprehensive income: | |||||
Balance (in shares) | 4,835,010 | ||||
Exercise of stock options (in shares) | 6,000 | ||||
Exercise of stock options | $ 60 | 247,050 | 247,110 | ||
Unrealized loss from marketable securities, net of tax | (489,657) | (489,657) | |||
Net income | 12,948,869 | 12,948,869 | |||
Total comprehensive income | 12,459,212 | ||||
Stock-based compensation | 22,000 | 22,000 | |||
Tax benefit of stock-based compensation | 32,616 | 32,616 | |||
Cash dividends declared | (19,346,040) | (19,346,040) | |||
Balance (in shares) | 4,835,010 | ||||
Balance at Mar. 31, 2017 | $ 48,410 | 19,507,348 | $ (38,298) | $ 73,162,025 | 92,679,485 |
Comprehensive income: | |||||
Exercise of stock options (in shares) | 6,000 | ||||
Exercise of stock options | $ 60 | $ 247,050 | 247,110 | ||
Repurchase of common stock | $ 0 | ||||
Balance (in shares) at Mar. 31, 2017 | 4,841,010 | ||||
Comprehensive income: | |||||
Balance (in shares) | 4,841,010 |
Statements of Shareholders' Eq7
Statements of Shareholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | |
Additional Paid-in Capital [Member] | |||
Cash dividends declared per common share (in dollars per share) | $ 4 | $ 4 | $ 2.06 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | |
OPERATING ACTIVITIES | |||
Net income | $ 12,948,869 | $ 12,292,315 | $ 14,368,354 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation, Depletion and Amortization | 1,147,451 | 850,970 | 934,371 |
Stock-based compensation | 22,000 | 21,160 | 58,960 |
Excess tax benefits | (32,616) | (352,294) | (24,288) |
Deferred income taxes | 6,144 | 295,827 | 155,713 |
Changes in operating assets and liabilities | |||
Accounts receivable | (1,192,716) | 719,888 | (632,400) |
Inventories | (153,065) | 537,259 | (535,159) |
Prepaid expenses and other assets | 127,241 | (159,611) | 241,363 |
Accounts payable and accrued expenses | 77,924 | (611,290) | 303,152 |
Deferred revenue | (572,072) | 714,805 | |
Net cash provided by operating activities | 12,379,160 | 14,309,029 | 14,870,066 |
INVESTING ACTIVITIES | |||
Purchases of fixed assets | (519,835) | (287,275) | (185,007) |
Purchases of marketable securities | (11,528,240) | (14,568,089) | (8,997,086) |
Proceeds from maturities of marketable securities | 19,400,000 | 19,725,000 | 12,160,000 |
Net cash provided by investing activities | 7,351,925 | 4,869,636 | 2,977,907 |
FINANCING ACTIVITIES | |||
Proceeds from sale of common stock | 247,110 | 292,909 | 302,701 |
Excess tax benefits | 32,616 | 352,294 | 24,288 |
Repurchase of common stock | (2,311,673) | ||
Payment of dividends to shareholders | (19,346,040) | (19,414,864) | (10,000,000) |
Net cash used in financing activities | (19,066,314) | (21,081,334) | (9,673,011) |
Increase (decrease) in cash and cash equivalents | 664,771 | (1,902,669) | 8,174,962 |
Cash and cash equivalents at beginning of year | 7,534,593 | 9,437,262 | 1,262,300 |
Cash and cash equivalents at end of year | 8,199,364 | 7,534,593 | 9,437,262 |
Supplemental disclosures of cash flow information: | |||
Cash paid during the year for income taxes | $ 6,040,000 | $ 5,810,000 | $ 6,800,000 |
Note 1 - Description of Busines
Note 1 - Description of Business | 12 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | NOTE 1. one |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2. three Fair Value of Financial Instruments Marketable Securities two three one one no 2017, 2016, 2015. Concentration of Risk and Financial Instruments one Accounts Receivable and Allowance for Doubtful Accounts may no 2017, 2016, 2015. Inventories first first Product Warranty one Fixed Assets five five not 2017, 2016, 2015. $798,300 2017, $850,970 2016, $934,371 2015. Revenue Recognition Product Sales Revenue Recognition may $12,760 2017, $20,721 2016, $12,771 2015. Accounting for Commissions and Discounts may third third Contract Research and Development Revenue Recognition may Income Taxes Research and Development Expense Recognition Stock-Based Compensation Net Income Per Share three 4,000 2017, 6,000 2016, 4,000 2015 Year Ended March 31 2017 2016 2015 Weighted average common shares outstanding – basic 4,836,602 4,850,209 4,855,504 Dilutive effect of stock options 1,787 2,393 16,431 Shares used in computing net income per share – diluted 4,838,389 4,852,602 4,871,935 Use of Estimates Recently Issued Accounting Standards March 2017, 2017 08, Nonrefundable Fees and Other Costs (Subtopic 310 20)—Premium 2017 08’s December 15, 2018 2020 2017 08 August 2016, 2016 15, Statement of Cash Flows (Topic 230), eight 2016 15 December 15, 2017 2019 2016 15 2016 15 June 2016, 2016 13, Financial Instruments—Credit Losses (Topic 326), December 15, 2019 2021 2016 13 March 2016, 2016 09, Compensation—Stock Compensation December 15, 2016 2018 2016 09 February 2016, 2016 02, Lease Accounting 2016 02 December 15, 2018 2020 2016 02 2016 02 January 2016, 2016 01, Financial Instruments—Overall: Recognition and Measurement of Financial Assets and Financial Liabilities December 15, 2017 2019 2016 01 July 2015, 2015 11, Simplifying the Measurement of Inventory 2015 11 first first 2015 11 2018, 2015 11 In May 2014, 2014 09, 605, Revenue Recognition 2014 09 two August 2015, 2015 14, Revenue from Contracts with Customers: Deferral of the Effective Date 2014 09 one 2014 09 December 15, 2017 2019 2014 09 |
Note 3 - Fair Value Measurement
Note 3 - Fair Value Measurements | 12 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 3. 1 1 1 $75,098,153 March 31, 2017 $84,045,869 March 31, 2016. 2 2 one 2 2 $1,304,603 March 31, 2017 $1,346,850 March 31, 2016. March 31, 2017 March 31, 2016 3 not 3 |
Note 4 - Marketable Securities
Note 4 - Marketable Securities | 12 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 4. one one March 31, 2017, Total <1 Year 1–3 Years 3–5 Years $ 76,402,756 $ 19,591,833 $ 33,461,493 $ 23,349,430 March 31, 2017 2016 As of March 31, 2017 As of March 31, 2016 Gross Gross Fair Gross Gross Fair Corporate bonds $ 75,158,087 $ 187,001 $ (246,935 ) $ 75,098,153 $ 83,339,487 $ 717,206 $ (10,824 ) $ 84,045,869 Municipal bonds 1,304,817 - (214 ) 1,304,603 1,344,328 2,522 - 1,346,850 Total $ 76,462,904 $ 187,001 $ (247,149 ) $ 76,402,756 $ 84,683,815 $ 719,728 $ (10,824 ) $ 85,392,719 Ten March 31, 2017. March 31, 2017 2016: Less Than 12 Months 12 Months or Greater Total Fair Gross Fair Gross Fair Gross As of March 31, 2017 Corporate bonds $ 32,198,766 $ (246,935 ) $ - $ - $ 32,198,766 $ (246,935 ) Municipal bonds 1,304,603 (214 ) - - 1,304,603 (214 ) Total $ 33,503,369 $ (247,149 ) $ - $ - $ 33,503,369 $ (247,149 ) As of March 31, 2016 Corporate bonds $ 3,003,606 $ (6,703 ) $ 2,599,870 $ (4,121 ) $ 5,603,476 $ (10,824 ) Municipal bonds - - - - - - Total $ 3,003,606 $ (6,703 ) $ 2,599,870 $ (4,121 ) $ 5,603,476 $ (10,824 ) $247,149 March 31, 2017, nine 23 None 12 not March 31, 2017. |
Note 5 - Inventories
Note 5 - Inventories | 12 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 5. March 31 2017 2016 Raw materials $ 786,775 $ 810,987 Work in process 1,968,990 1,653,800 Finished goods 602,533 740,446 Total inventories $ 3,358,298 $ 3,205,233 |
Note 6 - Stock-based Compensati
Note 6 - Stock-based Compensation | 12 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 6. 2000 may five one ten $22,000 2017, $21,160 2016, $58,960 2015. Valuation assumptions Year Ended March 31 2017 2016 2015 Risk-free interest rate 1.0 % 1.6 % 1.6 % Expected volatility 27 % 26 % 24 % Expected life (years) 4.3 4.3 4.2 Dividend yield 7.0 % 7.1 % 0 % Expected life Risk-free interest rate Volatility Dividend yield 7.0% 2017 7.1% 2016, zero 2015 Tax effects of stock-based compensation $7,993 2017 $7,688 2016. General stock option information no March 31, 2017 2016. March 31, 2017, Ranges of Number Weighted Average Weighted Remaining $42.45 - 54.11 5,000 $ 49.70 4.0 56.76 - 67.69 14,000 60.30 7.8 19,000 $ 57.51 6.8 2000 may five one ten Option Shares Options Weighted Average Warrants Weighted Average At March 31, 2014 155,230 38,000 $ 31.78 2,000 $ 37.38 Granted (4,000 ) 4,000 $ 67.69 - - Exercised - (6,910 ) $ 43.81 - - Terminated - - $ - (2,000 ) 37.38 At March 31, 2015 151,230 35,090 $ 33.51 - $ - Granted (4,000 ) 4,000 $ 56.76 - - Exercised - (18,090 ) $ 16.19 - - Terminated - - $ - - - At March 31, 2016 147,230 21,000 $ 52.85 - $ - Granted (4,000 ) 4,000 $ 57.46 - - Exercised - (6,000 ) $ 41.19 - - Terminated - - $ - - - At March 31, 2017 143,230 19,000 $ 57.51 - $ - 6.8 March 31, 2017; 6.2 March 31, 2016; 3.5 March 31, 2015. March 31, 2017, 2016, 2015. 2017 $191,388 March 31, 2017, $480,370, $22,000 2017. no March 31, 2017. No three none March 31, 2017 2016, 2015. |
Note 7 - Income Taxes
Note 7 - Income Taxes | 12 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 7. 2015 2017 Year Ended March 31 2017 2016 2015 Current taxes Federal $ 6,034,924 $ 5,754,428 $ 6,608,923 State 138,689 186,822 330,971 Deferred taxes Federal (25,196 ) (55,254 ) 125,070 State (1,275 ) (1,214 ) 6,356 Income tax provision $ 6,147,142 $ 5,884,782 $ 7,071,320 A reconciliation of income tax provisions at the U.S. statutory rate for fiscal 2015 2017 Year Ended March 31 2017 2016 2015 Tax expense at U.S. statutory rate $ 6,645,733 $ 6,272,341 $ 7,503,886 State income taxes, net of Federal benefit 83,116 118,057 216,518 Domestic manufacturing deduction (536,063 ) (476,932 ) (600,207 ) Municipal interest (4,207 ) (4,171 ) (11,489 ) Other (41,437 ) (24,513 ) (37,388 ) Income tax provision $ 6,147,142 $ 5,884,782 $ 7,071,320 March 31, 2017 2016 March 31 2017 2016 Vacation accrual $ 109,298 $ 118,611 Inventory reserve 81,743 90,825 Depreciation and amortization 52,378 (30,174 ) Stock-based compensation deductions 86,335 115,257 Unrealized loss (gain) on marketable securities 21,852 (257,545 ) Other 5,449 14,214 Long-term deferred tax assets $ 357,055 $ 51,188 $32,616 2017 $352,294 2016 no March 31, 2017, not 12 March 31, 2017 no 1999 2013 2016 |
Note 8 - Concentrations
Note 8 - Concentrations | 12 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE 8. 10% 2017, 2016, 2015: % of Revenue for Year Ended March 31 2017 2016 2015 Customer A 22 % 23 % 20 % Customer B 20 % 20 % 16 % Customer C * * 14 % Customer D * * 12 % *Less than 10% March 31, 2017 two 40% March 31, 2016 two 36%. Year Ended March 31 2017 2016 2015 United States $ 13,600,236 $ 12,392,053 $ 11,919,548 Europe, the Middle East, and Africa 9,612,883 11,392,046 13,779,392 Asia-Pacific 4,200,934 3,113,484 4,318,209 Rest of World 912,143 819,695 566,939 Total Revenue $ 28,326,196 $ 27,717,278 $ 30,584,088 |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 12 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 9. $271,470 2017, $270,627 2016, $269,473 2015. December 31, 2020. October 2018 Year Ending March 31 2018 2019 2020 2021 2022 Total $ 283,494 $ 286,590 $ 290,523 $ 220,296 $ - $ 1,080,903 |
Note 10 - Stock Repurchase Prog
Note 10 - Stock Repurchase Program | 12 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Stock Repurchase Plan Disclosure [Text Block] | NOTE 10. six $0.01 ten may $1,695,788 2016, none 2017 2015. January 21, 2009 $2,500,000 $5,000,000 August 27, 2015. $4,540,806 March 31, 2017. may |
Note 11 - Information As to Emp
Note 11 - Information As to Employee Stock Purchase, Savings, and Similar Plans | 12 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE 11. 401(k) first 21. may 100% first 3% $104,643 2017, $94,831 2016, $105,554 2015. |
Note 12 - Subsequent Events
Note 12 - Subsequent Events | 12 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 12. May 3, 2017 , $1.00 May 31, 2017 May 15, 2017 . |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Mar. 31, 2017 | |
Accounting Policies [Abstract] | |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents three |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments |
Marketable Securities, Policy [Policy Text Block] | Marketable Securities two three one one 2017, 2016, 2015. |
Concentration Of Risk and Financial Instruments Policy [Policy Text Block] | Concentration of Risk and Financial Instruments one |
Receivables, Policy [Policy Text Block] | Accounts Receivable and Allowance for Doubtful Accounts may 2017, 2016, 2015. |
Inventory, Policy [Policy Text Block] | Inventories first first |
Standard Product Warranty, Policy [Policy Text Block] | Product Warranty one |
Property, Plant and Equipment, Policy [Policy Text Block] | Fixed Assets five five 2017, 2016, 2015. $798,300 2017, $850,970 2016, $934,371 2015. |
Revenue Recognition, Sales of Goods [Policy Text Block] | Revenue Recognition Product Sales Revenue Recognition may $12,760 2017, $20,721 2016, $12,771 2015. |
Revenue Recognition, Services, Commissions [Policy Text Block] | Accounting for Commissions and Discounts may third third |
Revenue Recognition Research And Development Contract Policy [Policy Text Block] | Contract Research and Development Revenue Recognition may |
Income Tax, Policy [Policy Text Block] | Income Taxes |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Expense Recognition |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation |
Earnings Per Share, Policy [Policy Text Block] | Net Income Per Share three 4,000 2017, 6,000 2016, 4,000 2015 Year Ended March 31 2017 2016 2015 Weighted average common shares outstanding – basic 4,836,602 4,850,209 4,855,504 Dilutive effect of stock options 1,787 2,393 16,431 Shares used in computing net income per share – diluted 4,838,389 4,852,602 4,871,935 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Standards March 2017, 2017 08, Nonrefundable Fees and Other Costs (Subtopic 310 20)—Premium 2017 08’s December 15, 2018 2020 2017 08 August 2016, 2016 15, Statement of Cash Flows (Topic 230), eight 2016 15 December 15, 2017 2019 2016 15 2016 15 June 2016, 2016 13, Financial Instruments—Credit Losses (Topic 326), December 15, 2019 2021 2016 13 March 2016, 2016 09, Compensation—Stock Compensation December 15, 2016 2018 2016 09 February 2016, 2016 02, Lease Accounting 2016 02 December 15, 2018 2020 2016 02 2016 02 January 2016, 2016 01, Financial Instruments—Overall: Recognition and Measurement of Financial Assets and Financial Liabilities December 15, 2017 2019 2016 01 July 2015, 2015 11, Simplifying the Measurement of Inventory 2015 11 first first 2015 11 2018, 2015 11 In May 2014, 2014 09, 605, Revenue Recognition 2014 09 two August 2015, 2015 14, Revenue from Contracts with Customers: Deferral of the Effective Date 2014 09 one 2014 09 December 15, 2017 2019 2014 09 |
Note 2 - Summary of Significa22
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Weighted Average Number of Shares [Table Text Block] | Year Ended March 31 2017 2016 2015 Weighted average common shares outstanding – basic 4,836,602 4,850,209 4,855,504 Dilutive effect of stock options 1,787 2,393 16,431 Shares used in computing net income per share – diluted 4,838,389 4,852,602 4,871,935 |
Note 4 - Marketable Securities
Note 4 - Marketable Securities (Tables) | 12 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Marketable Securities [Table Text Block] | Total <1 Year 1–3 Years 3–5 Years $ 76,402,756 $ 19,591,833 $ 33,461,493 $ 23,349,430 |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | As of March 31, 2017 As of March 31, 2016 Gross Gross Fair Gross Gross Fair Corporate bonds $ 75,158,087 $ 187,001 $ (246,935 ) $ 75,098,153 $ 83,339,487 $ 717,206 $ (10,824 ) $ 84,045,869 Municipal bonds 1,304,817 - (214 ) 1,304,603 1,344,328 2,522 - 1,346,850 Total $ 76,462,904 $ 187,001 $ (247,149 ) $ 76,402,756 $ 84,683,815 $ 719,728 $ (10,824 ) $ 85,392,719 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less Than 12 Months 12 Months or Greater Total Fair Gross Fair Gross Fair Gross As of March 31, 2017 Corporate bonds $ 32,198,766 $ (246,935 ) $ - $ - $ 32,198,766 $ (246,935 ) Municipal bonds 1,304,603 (214 ) - - 1,304,603 (214 ) Total $ 33,503,369 $ (247,149 ) $ - $ - $ 33,503,369 $ (247,149 ) As of March 31, 2016 Corporate bonds $ 3,003,606 $ (6,703 ) $ 2,599,870 $ (4,121 ) $ 5,603,476 $ (10,824 ) Municipal bonds - - - - - - Total $ 3,003,606 $ (6,703 ) $ 2,599,870 $ (4,121 ) $ 5,603,476 $ (10,824 ) |
Note 5 - Inventories (Tables)
Note 5 - Inventories (Tables) | 12 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | March 31 2017 2016 Raw materials $ 786,775 $ 810,987 Work in process 1,968,990 1,653,800 Finished goods 602,533 740,446 Total inventories $ 3,358,298 $ 3,205,233 |
Note 6 - Stock-based Compensa25
Note 6 - Stock-based Compensation (Tables) | 12 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year Ended March 31 2017 2016 2015 Risk-free interest rate 1.0 % 1.6 % 1.6 % Expected volatility 27 % 26 % 24 % Expected life (years) 4.3 4.3 4.2 Dividend yield 7.0 % 7.1 % 0 % |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Ranges of Number Weighted Average Weighted Remaining $42.45 - 54.11 5,000 $ 49.70 4.0 56.76 - 67.69 14,000 60.30 7.8 19,000 $ 57.51 6.8 |
Share-based Compensation, Activity [Table Text Block] | Option Shares Options Weighted Average Warrants Weighted Average At March 31, 2014 155,230 38,000 $ 31.78 2,000 $ 37.38 Granted (4,000 ) 4,000 $ 67.69 - - Exercised - (6,910 ) $ 43.81 - - Terminated - - $ - (2,000 ) 37.38 At March 31, 2015 151,230 35,090 $ 33.51 - $ - Granted (4,000 ) 4,000 $ 56.76 - - Exercised - (18,090 ) $ 16.19 - - Terminated - - $ - - - At March 31, 2016 147,230 21,000 $ 52.85 - $ - Granted (4,000 ) 4,000 $ 57.46 - - Exercised - (6,000 ) $ 41.19 - - Terminated - - $ - - - At March 31, 2017 143,230 19,000 $ 57.51 - $ - |
Note 7 - Income Taxes (Tables)
Note 7 - Income Taxes (Tables) | 12 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended March 31 2017 2016 2015 Current taxes Federal $ 6,034,924 $ 5,754,428 $ 6,608,923 State 138,689 186,822 330,971 Deferred taxes Federal (25,196 ) (55,254 ) 125,070 State (1,275 ) (1,214 ) 6,356 Income tax provision $ 6,147,142 $ 5,884,782 $ 7,071,320 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended March 31 2017 2016 2015 Tax expense at U.S. statutory rate $ 6,645,733 $ 6,272,341 $ 7,503,886 State income taxes, net of Federal benefit 83,116 118,057 216,518 Domestic manufacturing deduction (536,063 ) (476,932 ) (600,207 ) Municipal interest (4,207 ) (4,171 ) (11,489 ) Other (41,437 ) (24,513 ) (37,388 ) Income tax provision $ 6,147,142 $ 5,884,782 $ 7,071,320 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | March 31 2017 2016 Vacation accrual $ 109,298 $ 118,611 Inventory reserve 81,743 90,825 Depreciation and amortization 52,378 (30,174 ) Stock-based compensation deductions 86,335 115,257 Unrealized loss (gain) on marketable securities 21,852 (257,545 ) Other 5,449 14,214 Long-term deferred tax assets $ 357,055 $ 51,188 |
Note 8 - Concentrations (Tables
Note 8 - Concentrations (Tables) | 12 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | % of Revenue for Year Ended March 31 2017 2016 2015 Customer A 22 % 23 % 20 % Customer B 20 % 20 % 16 % Customer C * * 14 % Customer D * * 12 % |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | Year Ended March 31 2017 2016 2015 United States $ 13,600,236 $ 12,392,053 $ 11,919,548 Europe, the Middle East, and Africa 9,612,883 11,392,046 13,779,392 Asia-Pacific 4,200,934 3,113,484 4,318,209 Rest of World 912,143 819,695 566,939 Total Revenue $ 28,326,196 $ 27,717,278 $ 30,584,088 |
Note 9 - Commitments and Cont28
Note 9 - Commitments and Contingencies (Tables) | 12 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Year Ending March 31 2018 2019 2020 2021 2022 Total $ 283,494 $ 286,590 $ 290,523 $ 220,296 $ - $ 1,080,903 |
Note 1 - Description of Busin29
Note 1 - Description of Business (Details Textual) | 12 Months Ended |
Mar. 31, 2017 | |
Number of Reportable Segments | 1 |
Note 2 - Summary of Significa30
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 12 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | |
Impairment of Long-Lived Assets Held-for-use | $ 0 | $ 0 | $ 0 |
Product Warranty Term | 1 year | ||
Depreciation, Depletion and Amortization | $ 1,147,451 | 850,970 | 934,371 |
Shipping, Handling and Transportation Costs | $ 12,760 | $ 20,721 | $ 12,771 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 4,000 | 6,000 | 4,000 |
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities | $ 0 | $ 0 | $ 0 |
Provision for Doubtful Accounts | 0 | 0 | 0 |
Allowance for Doubtful Accounts Receivable, Write-offs | $ 0 | $ 0 | $ 0 |
Machinery and Equipment [Member] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Leasehold Improvements [Member] | |||
Property, Plant and Equipment, Useful Life | 5 years |
Note 2 - Summary of Significa31
Note 2 - Summary of Significant Accounting Policies - Weighted Average Number of Shares (Details) - shares | 12 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | |
Basic (in shares) | 4,836,602 | 4,850,209 | 4,855,504 |
Dilutive effect of stock options (in shares) | 1,787 | 2,393 | 16,431 |
Shares used in computing net income per share – diluted (in shares) | 4,838,389 | 4,852,602 | 4,871,935 |
Note 3 - Fair Value Measureme32
Note 3 - Fair Value Measurements (Details Textual) - USD ($) | Mar. 31, 2017 | Mar. 31, 2016 |
Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale Securities | $ 75,098,153 | $ 84,045,869 |
Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale Securities | 1,304,603 | 1,346,850 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | $ 0 |
Note 4 - Marketable Securitie33
Note 4 - Marketable Securities (Details Textual) | 12 Months Ended | |
Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | $ 247,149 | $ 10,824 |
Number of Corporate Bonds Resulted in Loss | 9 | |
Number of Corporate Bonds | 23 | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 10 | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 0 | |
Number of Other-than-temporarily Impaired Marketable Securities | 0 |
Note 4 - Marketable Securitie34
Note 4 - Marketable Securities - Fair Value of Marketable Securities (Details) - USD ($) | Mar. 31, 2017 | Mar. 31, 2016 |
Total | $ 76,402,756 | $ 85,392,719 |
Less than 1 Year | 19,591,833 | |
1–3 Years | 33,461,493 | |
3-5 Years | $ 23,349,430 |
Note 4 - Marketable Securitie35
Note 4 - Marketable Securities - Reconciliation of Marketable Securities (Details) - USD ($) | Mar. 31, 2017 | Mar. 31, 2016 |
Adjusted Cost | $ 76,462,904 | $ 84,683,815 |
Gross Unrealized Gains | 187,001 | 719,728 |
Gross Unrealized Losses | (247,149) | (10,824) |
Fair Market Value | 76,402,756 | 85,392,719 |
Corporate Bond Securities [Member] | ||
Adjusted Cost | 75,158,087 | 83,339,487 |
Gross Unrealized Gains | 187,001 | 717,206 |
Gross Unrealized Losses | (246,935) | (10,824) |
Fair Market Value | 75,098,153 | 84,045,869 |
Municipal Bonds [Member] | ||
Adjusted Cost | 1,304,817 | 1,344,328 |
Gross Unrealized Gains | 2,522 | |
Gross Unrealized Losses | (214) | |
Fair Market Value | $ 1,304,603 | $ 1,346,850 |
Note 4 - Marketable Securitie36
Note 4 - Marketable Securities - Gross Unrealized Losses and Fair Value of Investments (Details) - USD ($) | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Fair market value, less than 12 months | $ 33,503,369 | $ 3,003,606 |
Gross unrealized losses, less than 12 months | (247,149) | (6,703) |
Fair market value, greater than 12 months | 2,599,870 | |
Gross unrealized losses, greater than 12 months | (4,121) | |
Total fair market value | 33,503,369 | 5,603,476 |
Total gross unrealized losses | (247,149) | (10,824) |
Corporate Bond Securities [Member] | ||
Fair market value, less than 12 months | 32,198,766 | 3,003,606 |
Gross unrealized losses, less than 12 months | (246,935) | (6,703) |
Fair market value, greater than 12 months | 2,599,870 | |
Gross unrealized losses, greater than 12 months | (4,121) | |
Total fair market value | 32,198,766 | 5,603,476 |
Total gross unrealized losses | (246,935) | (10,824) |
Municipal Bonds [Member] | ||
Fair market value, less than 12 months | 1,304,603 | |
Gross unrealized losses, less than 12 months | (214) | |
Fair market value, greater than 12 months | ||
Gross unrealized losses, greater than 12 months | ||
Total fair market value | 1,304,603 | |
Total gross unrealized losses | $ (214) |
Note 5 - Inventories - Summary
Note 5 - Inventories - Summary of Inventories (Details) - USD ($) | Mar. 31, 2017 | Mar. 31, 2016 |
Raw materials | $ 786,775 | $ 810,987 |
Work in process | 1,968,990 | 1,653,800 |
Finished goods | 602,533 | 740,446 |
Total inventories | $ 3,358,298 | $ 3,205,233 |
Note 6 - Stock-based Compensa38
Note 6 - Stock-based Compensation (Details Textual) - USD ($) | 12 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||
Allocated Share-based Compensation Expense | $ 22,000 | $ 21,160 | $ 58,960 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 7.00% | 7.10% | 0.00% | |
Employee Service Share-based Compensation, Tax Benefit from Exercise of Stock Options | $ 7,993 | $ 7,688 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 191,388 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 480,370 | |||
Share-based Compensation Arrangement by Share Based Payment Award Options Grants in Period Fair Value | $ 22,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares | 0 | 0 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 0 | |||
Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 6 years 292 days | 6 years 73 days | 3 years 182 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 19,000 | 21,000 | 35,090 | 38,000 |
Warrants [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 0 | 0 | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 0 | 0 | 0 | 2,000 |
Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 1 year | |||
Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years |
Note 6 - Stock-based Compensa39
Note 6 - Stock-based Compensation - Schedule of Valuation Assumptions (Details) | 12 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | |
Risk-free interest rate | 1.00% | 1.60% | 1.60% |
Expected volatility | 27.00% | 26.00% | 24.00% |
Expected life (years) (Year) | 4 years 109 days | 4 years 109 days | 4 years 73 days |
Dividend yield | 7.00% | 7.10% | 0.00% |
Note 6 - Stock-based Compensa40
Note 6 - Stock-based Compensation - Summary of Options Outstanding (Details) | 12 Months Ended |
Mar. 31, 2017$ / sharesshares | |
Number Outstanding (in shares) | shares | 19,000 |
Weighted Average Exercise Price (in dollars per share) | $ 57.51 |
Weighted Remaining Contractual Life (Year) | 6 years 292 days |
Range One [Member] | |
Ranges of Exercise Prices, Lower Limit (in dollars per share) | $ 42.45 |
Ranges of Exercise Prices, Upper Limit (in dollars per share) | $ 54.11 |
Number Outstanding (in shares) | shares | 5,000 |
Weighted Average Exercise Price (in dollars per share) | $ 49.70 |
Weighted Remaining Contractual Life (Year) | 4 years |
Range Two [Member] | |
Ranges of Exercise Prices, Lower Limit (in dollars per share) | $ 56.76 |
Ranges of Exercise Prices, Upper Limit (in dollars per share) | $ 67.69 |
Number Outstanding (in shares) | shares | 14,000 |
Weighted Average Exercise Price (in dollars per share) | $ 60.30 |
Weighted Remaining Contractual Life (Year) | 7 years 292 days |
Note 6 - Stock-based Compensa41
Note 6 - Stock-based Compensation - Summary of Stock Options and Warrants (Details) - $ / shares | 12 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Option Shares Reserved [Member] | ||||
Options Outstanding (in shares) | 143,230 | 147,230 | 151,230 | 155,230 |
Granted (in shares) | (4,000) | (4,000) | (4,000) | |
Granted (in shares) | 4,000 | 4,000 | 4,000 | |
Exercised (in shares) | ||||
Terminated (in shares) | ||||
Employee Stock Option [Member] | ||||
Options Outstanding (in shares) | 19,000 | 21,000 | 35,090 | 38,000 |
Weighted Average Option Exercise Price (in dollars per share) | $ 57.51 | $ 52.85 | $ 33.51 | $ 31.78 |
Granted (in shares) | (4,000) | (4,000) | (4,000) | |
Granted (in shares) | 4,000 | 4,000 | 4,000 | |
Granted (in dollars per share) | $ 57.46 | $ 56.76 | $ 67.69 | |
Exercised (in shares) | (6,000) | (18,090) | (6,910) | |
Exercised (in dollars per share) | $ 41.19 | $ 16.19 | $ 43.81 | |
Terminated (in shares) | ||||
Terminated (in dollars per share) | ||||
Warrants [Member] | ||||
Options Outstanding (in shares) | 0 | 0 | 0 | 2,000 |
Weighted Average Option Exercise Price (in dollars per share) | $ 37.38 | |||
Granted (in shares) | ||||
Granted (in shares) | ||||
Granted (in dollars per share) | ||||
Exercised (in shares) | ||||
Exercised (in dollars per share) | ||||
Terminated (in shares) | (2,000) | |||
Terminated (in dollars per share) | $ 37.38 |
Note 7 - Income Taxes (Details
Note 7 - Income Taxes (Details Textual) - USD ($) | 9 Months Ended | 12 Months Ended | ||
Dec. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | |
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | $ 32,616 | $ 352,294 | $ 24,288 | |
Open Tax Year | 1,999 | |||
Unrecognized Tax Benefits | 0 | |||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | 0 | |||
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | $ 0 | |||
Earliest Tax Year [Member] | ||||
Open Tax Year | 2,013 | |||
Latest Tax Year [Member] | ||||
Open Tax Year | 2,016 |
Note 7 - Income Taxes - Schedul
Note 7 - Income Taxes - Schedule of Income Tax Provisions (Details) - USD ($) | 12 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | |
Current taxes | |||
Federal, Current taxes | $ 6,034,924 | $ 5,754,428 | $ 6,608,923 |
State, Current taxes | 138,689 | 186,822 | 330,971 |
Deferred taxes | |||
Federal, Deferred taxes | (25,196) | (55,254) | 125,070 |
State, Deferred taxes | (1,275) | (1,214) | 6,356 |
Income tax provision | $ 6,147,142 | $ 5,884,782 | $ 7,071,320 |
Note 7 - Income Taxes - Reconci
Note 7 - Income Taxes - Reconciliation of Income Tax Provisions (Details) - USD ($) | 12 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | |
Tax expense at U.S. statutory rate | $ 6,645,733 | $ 6,272,341 | $ 7,503,886 |
State income taxes, net of Federal benefit | 83,116 | 118,057 | 216,518 |
Domestic manufacturing deduction | (536,063) | (476,932) | (600,207) |
Municipal interest | (4,207) | (4,171) | (11,489) |
Other | (41,437) | (24,513) | (37,388) |
Income tax provision | $ 6,147,142 | $ 5,884,782 | $ 7,071,320 |
Note 7 - Income Taxes - Deferre
Note 7 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) | Mar. 31, 2017 | Mar. 31, 2016 |
Vacation accrual | $ 109,298 | $ 118,611 |
Inventory reserve | 81,743 | 90,825 |
Depreciation and amortization | 52,378 | (30,174) |
Stock-based compensation deductions | 86,335 | 115,257 |
Unrealized loss (gain) on marketable securities | 21,852 | |
Unrealized loss (gain) on marketable securities | (257,545) | |
Other | 5,449 | 14,214 |
Long-term deferred tax assets | $ 357,055 | $ 51,188 |
Note 8 - Concentrations (Detail
Note 8 - Concentrations (Details Textual) | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Number of Major Customers | 2 | 2 |
Accounts Receivable [Member] | ||
Concentration Risk, Percentage | 40.00% | 36.00% |
Note 8 - Concentrations - Reven
Note 8 - Concentrations - Revenue By Major Customers (Details) - Sales Revenue, Net [Member] | 12 Months Ended | ||||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | |||
Customer A [Member] | |||||
Percentage of concentration | 22.00% | 23.00% | 20.00% | ||
Customer B [Member] | |||||
Percentage of concentration | 20.00% | 20.00% | 16.00% | ||
Customer C [Member[ | |||||
Percentage of concentration | [1] | [1] | 14.00% | ||
Customer D [Member] | |||||
Percentage of concentration | [1] | [1] | 12.00% | ||
[1] | Less than 10% |
Note 8 - Concentrations - Rev48
Note 8 - Concentrations - Revenue By Geographic Region (Details) - USD ($) | 12 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | |
Revenue | $ 28,326,196 | $ 27,717,278 | $ 30,584,088 |
UNITED STATES | |||
Revenue | 13,600,236 | 12,392,053 | 11,919,548 |
EMEA [Member] | |||
Revenue | 9,612,883 | 11,392,046 | 13,779,392 |
Asia Pacific [Member] | |||
Revenue | 4,200,934 | 3,113,484 | 4,318,209 |
Rest of World [Member] | |||
Revenue | $ 912,143 | $ 819,695 | $ 566,939 |
Note 9 - Commitments and Cont49
Note 9 - Commitments and Contingencies (Details Textual) - USD ($) | 12 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | |
Payments for (Proceeds from) Loans and Leases | $ 271,470 | $ 270,627 | $ 269,473 |
Note 9 - Commitments and Cont50
Note 9 - Commitments and Contingencies - Schedule of Future Minimum Lease Payments (Details) | Mar. 31, 2017USD ($) |
2,018 | $ 283,494 |
2,019 | 286,590 |
2,020 | 290,523 |
2,021 | 220,296 |
2,022 | |
Total | $ 1,080,903 |
Note 10 - Stock Repurchase Pr51
Note 10 - Stock Repurchase Program (Details Textual) - USD ($) | 12 Months Ended | ||||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | Aug. 27, 2015 | Jan. 21, 2009 | |
Common Stock, Shares Authorized | 6,000,000 | 6,000,000 | |||
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | |||
Capital Units, Authorized | 10,000,000 | ||||
Stock Repurchased and Retired During Period, Value | $ 0 | $ 1,695,788 | $ 0 | ||
Stock Repurchase Program, Authorized Amount | $ 2,500,000 | ||||
Stock Repurchase Program Authorized Additional Amount | $ 5,000,000 | ||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 4,540,806 |
Note 11 - Information As to E52
Note 11 - Information As to Employee Stock Purchase, Savings, and Similar Plans (Details Textual) - USD ($) | 12 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 100.00% | ||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 3.00% | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 104,643 | $ 94,831 | $ 105,554 |
Note 12 - Subsequent Events (De
Note 12 - Subsequent Events (Details Textual) - $ / shares | May 03, 2017 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 |
Common Stock, Dividends, Per Share, Declared | $ 4 | $ 4 | $ 2.06 | |
Subsequent Event [Member] | ||||
Common Stock, Dividends, Per Share, Declared | $ 1 | |||
Common Stock [Member] | Subsequent Event [Member] | ||||
Dividends Payable, Date Declared | May 3, 2017 | |||
Dividends Payable, Date to be Paid | May 31, 2017 | |||
Dividends Payable, Date of Record | May 15, 2017 |