NVE (NVEC) 10-Q 23 Oct 13 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Sep. 30, 2013	Oct. 18, 2013
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	30-Sep-13
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2014
Entity Registrant Name	NVE CORP /NEW/
Entity Central Index Key	724910
Current Fiscal Year End Date	-28
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		4,837,043

Balance_Sheets

Balance Sheets (USD $)	Sep. 30, 2013	Mar. 31, 2013
ASSETS
Cash and cash equivalents	$1,561,571	$2,509,683
Marketable securities, short term	8,330,034	9,711,029
Accounts receivable, net of allowance for uncollectible accounts of $15,000	3,031,027	2,521,395
Inventories	3,100,445	3,336,592
Deferred tax assets	256,472	0
Prepaid expenses and other assets	894,806	958,147
Total current assets	17,174,355	19,036,846
Fixed assets
Machinery and equipment	8,417,061	8,417,061
Leasehold improvements	1,499,454	1,499,454
Gross fixed assets	9,916,515	9,916,515
Less accumulated depreciation	6,608,394	6,228,122
Net fixed assets	3,308,121	3,688,393
Marketable securities, long term	79,140,911	73,040,257
Total assets	99,623,387	95,765,496
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable	391,640	422,092
Accrued payroll and other	894,282	918,060
Deferred taxes	0	440,736
Total current liabilities	1,285,922	1,780,888
Deferred Tax Liabilities, Net, Noncurrent	377,232	0
Shareholders' equity
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,837,043 issued and outstanding as of September 30, 2013; 4,862,436 issued and outstanding as of March 31, 2013	48,370	48,624
Additional paid-in capital	19,990,791	21,200,742
Accumulated other comprehensive income	947,080	1,557,726
Retained earnings	76,973,992	71,177,516
Total shareholders' equity	97,960,233	93,984,608
Total liabilities and shareholders' equity	$99,623,387	$95,765,496

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Mar. 31, 2013
Balance Sheets
Accounts receivable, allowance for uncollectible accounts	$15,000	$15,000
Common stock par value	$0.01	$0.01
Common stock, shares authorized	6,000,000	6,000,000
Common stock shares, issued	4,837,043	4,862,436
Common stock shares, outstanding	4,837,043	4,862,436

Statements_Of_Income

Statements Of Income (USD $)	3 Months Ended		6 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Revenue
Product sales	$7,231,149	$5,231,332	$13,205,755	$12,262,077
Contract research and development	70,031	591,464	272,358	1,023,624
Total revenue	7,301,180	5,822,796	13,478,113	13,285,701
Cost of sales	1,503,546	1,606,913	2,881,901	3,409,266
Gross profit	5,797,634	4,215,883	10,596,212	9,876,435
Expenses
Selling, general , and administrative	660,076	607,694	1,212,880	1,143,804
Research and development	876,463	612,258	1,839,374	1,300,284
Total expenses	1,536,539	1,219,952	3,052,254	2,444,088
Income from operations	4,261,095	2,995,931	7,543,958	7,432,347
Interest income	520,802	621,950	1,047,141	1,184,568
Income before taxes	4,781,897	3,617,881	8,591,099	8,616,915
Provision for income taxes	1,552,246	1,174,998	2,794,623	2,796,374
Net income	$3,229,651	$2,442,883	$5,796,476	$5,820,541
Net income per share - basic	$0.67	$0.51	$1.19	$1.21
Net income per share - diluted	$0.66	$0.50	$1.19	$1.19
Weighted average shares outstanding
Basic	4,852,178	4,825,441	4,857,279	4,825,095
Diluted	4,873,106	4,884,656	4,878,599	4,882,524

Statements_of_Comprehensive_In

Statements of Comprehensive Income (USD $)	3 Months Ended		6 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Comprehensive Income [Abstract]
Net income	$3,229,651	$2,442,883	$5,796,476	$5,820,541
Unrealized loss from marketable securities, net of tax	244,389	617,655	-610,646	532,027
Comprehensive income	$3,474,040	$3,060,538	$5,185,830	$6,352,568

Statements_Of_Cash_Flows

Statements Of Cash Flows (USD $)	6 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
OPERATING ACTIVITIES
Net income	$5,796,476	$5,820,541
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	380,272	291,531
Stock-based compensation	53,200	66,720
Excess tax benefits	0	-2,383
Deferred income taxes	28,457	14,265
Changes in operating assets and liabilities:
Accounts receivable	-509,632	723,158
Inventories	236,147	-293,112
Prepaid expenses and other assets	63,341	-127,903
Accounts payable and accrued expenses	-54,230	-60,556
Net cash provided by operating activities	5,994,031	6,432,261
INVESTING ACTIVITIES
Purchases of fixed assets	0	-1,019,269
Purchases of marketable securities	-11,533,738	-11,979,769
Proceeds from maturities and sales of marketable securities	5,855,000	6,885,000
Net cash used in investing activities	-5,678,738	-6,114,038
FINANCING ACTIVITIES
Net proceeds from sale of common stock	0	69,420
Excess tax benefits	0	2,383
Repurchase of common stock	-1,263,405	0
Net cash provided by financing activities	-1,263,405	71,803
Increase in cash and cash equivalents	-948,112	390,026
Cash and cash equivalents at beginning of period	2,509,683	1,544,536
Cash and cash equivalents at end of period	1,561,571	1,934,562
Supplemental disclosures of cash flow information:
Cash paid during the period for income taxes	$2,838,033	$2,920,000

Description_Of_Business

Description Of Business	6 Months Ended
	Sep. 30, 2013
Description Of Business [Abstract]
Description Of Business	NOTE 1. DESCRIPTION OF BUSINESS
	We develop and sell devices that use spintronics, a nanotechnology that relies on electron spin rather than electron charge to acquire, store, and transmit information.

Interim_Financial_Information

Interim Financial Information	6 Months Ended
	Sep. 30, 2013
Interim Financial Information [Abstract]
Interim Financial Information	NOTE 2. INTERIM FINANCIAL INFORMATION
	The accompanying unaudited financial statements of NVE Corporation are prepared consistent with accounting principles generally accepted in the United States and in accordance with Securities and Exchange Commission rules and regulations. In the opinion of management, these financial statements reflect all adjustments, consisting only of normal and recurring adjustments, necessary for a fair presentation of the financial statements. Although we believe that the disclosures are adequate to make the information presented not misleading, it is suggested that these unaudited financial statements be read in conjunction with the audited financial statements and the notes included in our latest annual financial statements included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2013. The results of operations for the quarter or six months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the full fiscal year ending March 31, 2014.

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	6 Months Ended
	Sep. 30, 2013
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	NOTE 3. RECENT ACCOUNTING PRONOUNCEMENTS
	We have adopted all applicable recently issued accounting pronouncements.

Net_Income_Per_Share

Net Income Per Share	6 Months Ended
	Sep. 30, 2013
Net Income Per Share [Abstract]
Net Income Per Share	NOTE 4. NET INCOME PER SHARE
	Net income per basic share is computed based on the weighted-average number of common shares issued and outstanding during each period. Net income per diluted share amounts assume conversion, exercise or issuance of all potential common stock instruments (stock options and warrants). Stock options totaling 13,000 for the quarter and six months ended September 30, 2013 were not included in the computation of diluted earnings per share because the exercise prices of the options and warrants were greater than the market price of the common stock and are considered anti-dilutive. The following table reflects the components of common shares outstanding:
		Quarter Ended Sept. 30
		2013	2012
	Weighted average common shares outstanding – basic	4,852,178	4,825,441
	Effect of dilutive securities:
	Stock options	20,435	57,363
	Warrants	493	1,852
	Shares used in computing net income per share – diluted	4,873,106	4,884,656
		Six Months Ended Sept. 30
		2013	2012
	Weighted average common shares outstanding – basic	4,857,279	4,825,095
	Effect of dilutive securities:
	Stock options	20,798	55,646
	Warrants	522	1,783
	Shares used in computing net income per share – diluted	4,878,599	4,882,524

Marketable_Securities

Marketable Securities	6 Months Ended
	Sep. 30, 2013
Marketable Securities [Abstract]
Marketable Securities	NOTE 5. MARKETABLE SECURITIES
	Marketable securities with remaining maturities less than one year are classified as short-term, and those with remaining maturities greater than one year are classified as long-term. The fair value of our marketable securities as of September 30, 2013, by maturity, were as follows:
	Total			<1 Year			1–3 Years			3–5 Years
	$	87,470,945		$	8,330,034		$	39,604,111		$	39,536,800
	As of September 30 and March 31, 2013, our marketable securities were as follows:
		As of September 30, 2013													As of March 31, 2013
					Gross			Gross				Fair						Gross			Gross			Fair
		Adjusted			Unrealized			Unrealized				Market			Adjusted			Unrealized			Unrealized			Market
		Cost			Gains			Losses				Value			Cost			Gains			Losses			Value
	Corporate bonds	$	81,012,705		$	1,802,036		$	(348,139	)		$	82,466,602		$	72,923,502		$	2,378,845		$	(4,187	)	$	75,298,160
	Municipal bonds	4,970,757			47,682			(14,096		)		5,004,343			7,381,223			81,058			(9,155		)	7,453,126
	Total	$	85,983,462		$	1,849,718		$	(362,235	)		$	87,470,945		$	80,304,725		$	2,459,903		$	(13,342	)	$	82,751,286
	The decrease in fair market value of municipal bonds as of September 30, 2013 compared to March 31, 2013 was primarily due to the maturation of four municipal bonds. The increase in fair market value of corporate bonds was primarily due to purchases of corporate bonds during the six months ended September 30, 2013.
	The following table presents the gross unrealized losses and fair value of our investments with unrealized losses, aggregated by investment category and length of time that individual securities had been in a continuous unrealized loss position as of September 30 and March 31, 2013:
			Less Than 12 Months							12 Months or Greater							Total
			Fair			Gross				Fair			Gross				Fair			Gross
			Market			Unrealized				Market			Unrealized				Market			Unrealized
			Value			Losses				Value			Losses				Value			Losses
	As of September 30, 2013
		Corporate bonds	$	26,514,541		$	(348,139	)		$	-		$	-			$	26,514,541		$	(348,139	)
		Municipal bonds	1,429,010			(14,096		)		-			-				1,429,010			(14,096		)
		Total	$	27,943,551		$	(362,235	)		$	-		$	-			$	27,943,551		$	(362,235	)
	As of March 31, 2013
		Corporate bonds	$	1,171,976		$	(4,187	)		$	-		$	-			$	1,171,976		$	(4,187	)
		Municipal bonds	508,607			(9,155		)		-			-				508,607			(9,155		)
		Total	$	1,680,583		$	(13,342	)		$	-		$	-			$	1,680,583		$	(13,342	)
	Gross unrealized losses totaled $362,235 as of September 30, 2013, and were attributed to nine corporate bonds and one municipal bond out of a portfolio of 41 bonds. The gross unrealized losses were due to market-price decreases and rating downgrades after the bonds were purchased, and none had been in a continuous unrealized loss position for 12 months or greater. A substantial majority of the bonds we held were rated by Moody's or Standard and Poor's and had investment-grade credit ratings. For each bond, including each bond with an unrealized loss, we expect to recover the entire cost basis of each security based on our consideration of factors including their credit ratings, the underlying ratings of insured bonds, and historical default rates for securities of comparable credit rating. Because we expect to recover the entire cost basis of each of the securities, and because we do not intend to sell the securities and it is not more likely than not that we will be required to sell the securities before recovery of the cost basis, which may be maturity, we did not consider any of our marketable securities to be other-than-temporarily impaired at September 30, 2013.

Inventories

Inventories	6 Months Ended
	Sep. 30, 2013
Inventories [Abstract]
Inventories	NOTE 6. INVENTORIES
	Inventories consisted of the following:
		Sept. 30			31-Mar
		2013			2013
	Raw materials	$	991,048		$	1,312,011
	Work in process		1,624,156			1,533,951
	Finished goods	780,241			775,630
			3,395,445			3,621,592
	Less inventory reserve	(295,000		)	(285,000		)
	Total inventories	$	3,100,445		$	3,336,592

StockBased_Compensation

Stock-Based Compensation	6 Months Ended
	Sep. 30, 2013
Stock-Based Compensation [Abstract]
Stock-Based Compensation	NOTE 7. STOCK-BASED COMPENSATION
	Stock-based compensation expense was $53,200 for the second quarter and first six months of fiscal 2014, and $66,720 for the second quarter and first six months of fiscal 2013. Stock-based compensation expenses for the quarters and six months ended September 30, 2013 and 2012 were non-cash, and due to the issuance of automatic stock options to our non-employee directors on their reelection to our Board. We calculate the share-based compensation expense using the Black-Scholes standard option-pricing model.

Income_Taxes

Income Taxes	6 Months Ended
	Sep. 30, 2013
Income Taxes [Abstract]
Income Taxes	NOTE 8. INCOME TAXES
	Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes.
	We had no unrecognized tax benefits as of September 30, 2013, and we do not expect any significant unrecognized tax benefits within 12 months of the reporting date. We recognize interest and penalties related to income tax matters in income tax expense. As of September 30, 2013 we had no accrued interest related to uncertain tax positions. The tax years 1999 through 2012 remain open to examination by the major taxing jurisdictions to which we are subject.

Fair_Value_Measurements

Fair Value Measurements	6 Months Ended
	Sep. 30, 2013
Fair Value Measurements [Abstract]
Fair Value Measurements	NOTE 9. FAIR VALUE MEASUREMENTS
	Generally accepted accounting principles establish a framework for measuring fair value, provide a definition of fair value and prescribe required disclosures about fair-value measurements. Generally accepted accounting principles define fair value as the price that would be received to sell an asset or paid to transfer a liability. Fair value is a market-based measurement that should be determined using assumptions that market participants would use in pricing an asset or liability. Generally accepted accounting principles utilize a valuation hierarchy for disclosure of fair value measurements. The categorization within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The categories within the valuation hierarchy are described as follows:
	Level 1 – Financial instruments with quoted prices in active markets for identical assets or liabilities. Our Level 1 financial instruments consist of publicly-traded marketable corporate debt securities, which are classified as available-for-sale. On the balance sheets, these securities are included in "Marketable securities, short term" and "Marketable securities, long term." The fair value of our Level 1 marketable securities was $82,466,602 at September 30, 2013 and $75,298,160 at March 31, 2013.
	Level 2 – Financial instruments with quoted prices in active markets for similar assets or liabilities. Level 2 fair value measurements are determined using either prices for similar instruments or inputs that are either directly or indirectly observable, such as interest rates. Our Level 2 financial instruments consist of municipal debt securities, which are classified as available-for-sale. On the balance sheets, these securities are included in "Marketable securities, short term" and "Marketable securities, long term." The fair value of our Level 2 marketable securities was $5,004,343 at September 30, 2013 and $7,453,126 at March 31, 2013.
	Level 3 – Inputs to the fair value measurement are unobservable inputs or valuation techniques. We do not have any financial assets or liabilities being measured at fair value that are classified as Level 3 financial instruments.

Stock_Repurchase_Plan

Stock Repurchase Plan	6 Months Ended
	Sep. 30, 2013
Stock Repurchase Plan [Abstract]
Stock Repurchase Plan	NOTE 10. STOCK REPURCHASE PLAN
	We repurchased $1,263,405 of our Common Stock in the first six months of fiscal 2014. The repurchases were under a program announced January 21, 2009 authorizing the repurchase of up to $2,500,000 of our Common Stock, $1,236,595 of which remained available as of September 30, 2013. The repurchase program may be modified or discontinued at any time without notice.

Net_Income_Per_Share_Tables

Net Income Per Share (Tables)	6 Months Ended
	Sep. 30, 2013
Net Income Per Share [Abstract]
Schedule Of Weighted Average Number Of Shares
		Quarter Ended Sept. 30
		2013	2012
	Weighted average common shares outstanding – basic	4,852,178	4,825,441
	Effect of dilutive securities:
	Stock options	20,435	57,363
	Warrants	493	1,852
	Shares used in computing net income per share – diluted	4,873,106	4,884,656
		Six Months Ended Sept. 30
		2013	2012
	Weighted average common shares outstanding – basic	4,857,279	4,825,095
	Effect of dilutive securities:
	Stock options	20,798	55,646
	Warrants	522	1,783
	Shares used in computing net income per share – diluted	4,878,599	4,882,524

Marketable_Securities_Tables

Marketable Securities (Tables)	6 Months Ended
	Sep. 30, 2013
Marketable Securities [Abstract]
Fair Value Of Marketable Securities By Maturity
	Total			<1 Year			1–3 Years			3–5 Years
	$	87,470,945		$	8,330,034		$	39,604,111		$	39,536,800
Amortized Cost And Approximate Fair Values Of Marketable Securities
		As of September 30, 2013													As of March 31, 2013
					Gross			Gross				Fair						Gross			Gross			Fair
		Adjusted			Unrealized			Unrealized				Market			Adjusted			Unrealized			Unrealized			Market
		Cost			Gains			Losses				Value			Cost			Gains			Losses			Value
	Corporate bonds	$	81,012,705		$	1,802,036		$	(348,139	)		$	82,466,602		$	72,923,502		$	2,378,845		$	(4,187	)	$	75,298,160
	Municipal bonds	4,970,757			47,682			(14,096		)		5,004,343			7,381,223			81,058			(9,155		)	7,453,126
	Total	$	85,983,462		$	1,849,718		$	(362,235	)		$	87,470,945		$	80,304,725		$	2,459,903		$	(13,342	)	$	82,751,286
Gross Unrealized Losses And Fair Values Of Investments By Investment Category And Length Of Time
			Less Than 12 Months							12 Months or Greater							Total
			Fair			Gross				Fair			Gross				Fair			Gross
			Market			Unrealized				Market			Unrealized				Market			Unrealized
			Value			Losses				Value			Losses				Value			Losses
	As of September 30, 2013
		Corporate bonds	$	26,514,541		$	(348,139	)		$	-		$	-			$	26,514,541		$	(348,139	)
		Municipal bonds	1,429,010			(14,096		)		-			-				1,429,010			(14,096		)
		Total	$	27,943,551		$	(362,235	)		$	-		$	-			$	27,943,551		$	(362,235	)
	As of March 31, 2013
		Corporate bonds	$	1,171,976		$	(4,187	)		$	-		$	-			$	1,171,976		$	(4,187	)
		Municipal bonds	508,607			(9,155		)		-			-				508,607			(9,155		)
		Total	$	1,680,583		$	(13,342	)		$	-		$	-			$	1,680,583		$	(13,342	)

Inventories_Tables

Inventories (Tables)	6 Months Ended
	Sep. 30, 2013
Inventories [Abstract]
Schedule Of Inventories
		Sept. 30			31-Mar
		2013			2013
	Raw materials	$	991,048		$	1,312,011
	Work in process		1,624,156			1,533,951
	Finished goods	780,241			775,630
			3,395,445			3,621,592
	Less inventory reserve	(295,000		)	(285,000		)
	Total inventories	$	3,100,445		$	3,336,592

Net_Income_Per_Share_Details

Net Income Per Share (Details)	3 Months Ended		6 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Net Income Per Share [Abstract]
Weighted average common shares outstanding - basic	4,852,178	4,825,441	4,857,279	4,825,095
Stock options	20,435	57,363	20,798	55,646
Warrants	493	1,852	522	1,783
Shares used in computing net income per share - diluted	4,873,106	4,884,656	4,878,599	4,882,524
Stock options and warrants not included in computation of diluted earnings per share	13,000		13,000

Marketable_Securities_Narrativ

Marketable Securities (Narrative) (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2013
Schedule of Investments [Line Items]
Gross unrealized losses	$362,235	$13,342
Municipal Bonds [Member]
Schedule of Investments [Line Items]
Gross unrealized losses	$14,096	$9,155

Marketable_Securities_Fair_Val

Marketable Securities (Fair Value Of Marketable Securities By Maturity) (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2013
Marketable Securities [Abstract]
Marketable securities, Total, fair value	$87,470,945	$82,751,286
Marketable securities, debt maturities due within one year, fair value	8,330,034
Marketable securities, debt maturities due after one year through three years, fair value	39,604,111
Marketable securities, debt maturities due after three years through five years, fair value	$39,536,800

Marketable_Securities_Amortize

Marketable Securities (Amortized Cost And Approximate Fair Values Of Marketable Securities) (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2013
Schedule of Investments [Line Items]
Adjusted Cost	$85,983,462	$80,304,725
Gross Unrealized Gains	1,849,718	2,459,903
Gross Unrealized Losses	-362,235	-13,342
Fair Market Value	87,470,945	82,751,286
Corporate Bonds [Member]
Schedule of Investments [Line Items]
Adjusted Cost	81,012,705	72,923,502
Gross Unrealized Gains	1,802,036	2,378,845
Gross Unrealized Losses	-348,139	-4,187
Fair Market Value	82,466,602	75,298,160
Municipal Bonds [Member]
Schedule of Investments [Line Items]
Adjusted Cost	4,970,757	7,381,223
Gross Unrealized Gains	47,682	81,058
Gross Unrealized Losses	-14,096	-9,155
Fair Market Value	$5,004,343	$7,453,126

Marketable_Securities_Gross_Un

Marketable Securities (Gross Unrealized Losses And Fair Values Of Investments By Investment Category And Length Of Time) (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2013
Schedule of Investments [Line Items]
Marketable Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Market Value	$27,943,551	$1,680,583
Marketable Securities, Continuous Unrealized Loss Position, Less than 12 Months, Gross Unrealized Losses	-362,235	-13,342
Marketable Securities, Continuous Unrealized Loss Position, Fair Market Value, Total	27,943,551	1,680,583
Marketable Securities, Continuous Unrealized Loss Position, Gross Unrealized Losses, Total	-362,235	-13,342
Corporate Bonds [Member]
Schedule of Investments [Line Items]
Marketable Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Market Value	26,514,541	1,171,976
Marketable Securities, Continuous Unrealized Loss Position, Less than 12 Months, Gross Unrealized Losses	-348,139	-4,187
Marketable Securities, Continuous Unrealized Loss Position, Fair Market Value, Total	26,514,541	1,171,976
Marketable Securities, Continuous Unrealized Loss Position, Gross Unrealized Losses, Total	-348,139	-4,187
Municipal Bonds [Member]
Schedule of Investments [Line Items]
Marketable Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Market Value	1,429,010	508,607
Marketable Securities, Continuous Unrealized Loss Position, Less than 12 Months, Gross Unrealized Losses	-14,096	-9,155
Marketable Securities, Continuous Unrealized Loss Position, Fair Market Value, Total	1,429,010	508,607
Marketable Securities, Continuous Unrealized Loss Position, Gross Unrealized Losses, Total	($14,096)	($9,155)

Inventories_Details

Inventories (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2013
Inventories [Abstract]
Raw materials	$991,048	$1,312,011
Work in process	1,624,156	1,533,951
Finished goods	780,241	775,630
Inventory, Gross, Total	3,395,445	3,621,592
Less inventory reserve	-295,000	-285,000
Total inventories	$3,100,445	$3,336,592

StockBased_Compensation_Detail

Stock-Based Compensation (Details) (USD $)	3 Months Ended	6 Months Ended
	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Stock-Based Compensation [Abstract]
Share-based compensation	$66,720	$53,200	$66,720

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2013
Available-for-sale securities, fair value	$87,470,945	$82,751,286
Fair Value, Inputs, Level 1 [Member]
Available-for-sale securities, fair value	82,466,602	75,298,160
Fair Value, Inputs, Level 2 [Member]
Available-for-sale securities, fair value	$5,004,343	$7,453,126

Stock_Repurchase_Plan_Details

Stock Repurchase Plan (Details) (USD $)	1 Months Ended	6 Months Ended
	Jan. 21, 2009	Sep. 30, 2013	Sep. 30, 2012
Stock Repurchase Plan [Abstract]
Repurchase of common stock		$1,263,405	$0
Authorized common stock for repurchase	2,500,000
Remaining authorized common stock for repurchase		$1,236,595