NVE (NVEC) 10-K 4 May 16 2016 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2016	Apr. 29, 2016	Sep. 30, 2015
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)		4,835,010
Entity Public Float			$ 122
Document Type	10-K
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Amendment Flag	false

Balance Sheets

Balance Sheets - USD ($)	Mar. 31, 2016	Mar. 31, 2015
Current assets
Cash and cash equivalents	$ 7,534,593	$ 9,437,262
Marketable securities, short-term	19,697,384	20,099,288
Accounts receivable, net of allowance for uncollectible accounts of $15,000	2,244,086	2,963,974
Inventories	$ 3,205,233	3,742,492
Deferred tax assets		102,052
Prepaid expenses and other assets	$ 734,524	574,913
Total current assets	33,415,820	36,919,981
Fixed assets
Machinery and equipment	8,840,033	8,604,926
Leasehold improvements	1,539,965	1,524,298
	10,379,998	10,129,224
Less accumulated depreciation and amortization	8,688,285	7,873,816
Net fixed assets	1,691,713	$ 2,255,408
Long-term deferred tax assets	51,188
Marketable securities, long-term	65,695,335	$ 70,913,807
Total assets	100,854,056	110,089,196
Current liabilities
Accounts payable	317,990	358,818
Accrued payroll and other	556,674	$ 1,127,136
Deferred revenue	714,805
Total current liabilities	$ 1,589,469	$ 1,485,954
Long-term deferred tax liabilities		275,708
Shareholders’ equity
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,835,010 issued and outstanding as of March 31, 2016 and 4,857,953 issued and outstanding as of March 31, 2015	$ 48,350	48,580
Additional paid-in capital	19,205,682	20,850,762
Accumulated other comprehensive income	451,359	746,447
Retained earnings	79,559,196	86,681,745
Total shareholders’ equity	99,264,587	108,327,534
Total liabilities and shareholders’ equity	$ 100,854,056	$ 110,089,196

Balance Sheets (Parentheticals)

Balance Sheets (Parentheticals) - USD ($)	Mar. 31, 2016	Mar. 31, 2015
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)	4,835,010	4,857,953
Common stock, shares outstanding (in shares)	4,835,010	4,857,953

Statements of Income

Statements of Income - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Revenue
Product sales	$ 24,410,391	$ 29,894,045	$ 25,512,028
Contract research and development	3,306,887	690,043	422,879
Total revenue	27,717,278	30,584,088	25,934,907
Cost of sales	6,616,852	6,019,868	5,720,277
Gross profit	21,100,426	24,564,220	20,214,630
Expenses
Selling, general, and administrative	1,752,962	2,312,076	2,235,475
Research and development	3,061,184	3,000,193	3,585,339
Total expenses	4,814,146	5,312,269	5,820,814
Income from operations	16,286,280	19,251,951	14,393,816
Interest income	1,890,817	2,187,723	2,122,133
Income before taxes	18,177,097	21,439,674	16,515,949
Provision for income taxes	5,884,782	7,071,320	5,380,074
Net income	$ 12,292,315	$ 14,368,354	$ 11,135,875
Net income per share – basic (in dollars per share)	$ 2.53	$ 2.96	$ 2.30
Net income per share – diluted (in dollars per share)	2.53	2.95	$ 2.29
Cash dividends declared per common share (in dollars per share)	$ 4	$ 2.06
Weighted average shares outstanding
Basic (in shares)	4,850,209	4,855,504	4,851,460
Diluted (in shares)	4,852,602	4,871,935	4,867,691

Statements of Comprehensive Inc

Statements of Comprehensive Income - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Net income	$ 12,292,315	$ 14,368,354	$ 11,135,875
Unrealized loss from marketable securities, net of tax	(295,088)	(131,410)	(679,869)
Comprehensive income	$ 11,997,227	$ 14,236,944	$ 10,456,006

Statement of Stockholders' Equi

Statement of Stockholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Comprehensive income:
Balance as of March 31, 2014 (in shares)	4,862,436
Balance as of March 31, 2013 (in shares) at Mar. 31, 2013	4,862,436
Balance as of March 31, 2013 at Mar. 31, 2013	$ 48,624	$ 21,200,742	$ 1,557,726	$ 71,177,516	$ 93,984,608
Exercise of stock options (in shares)	14,000
Exercise of stock options	$ 140	416,620			416,760
Repurchase of common stock (in shares)	(25,393)
Repurchase of common stock	$ (254)	$ (1,263,151)			(1,263,405)
Comprehensive income:
Unrealized loss from marketable securities, net of tax			$ (679,869)		(679,869)
Net income				$ 11,135,875	11,135,875
Total comprehensive income					10,456,006
Stock-based compensation		$ 53,200			53,200
Tax benefit of stock- based compensation		57,472			57,472
Balance as of March 31, 2014 (in shares)	4,862,436
Balance as of March 31, 2014 at Mar. 31, 2014	$ 48,510	20,464,883	$ 877,857	$ 82,313,391	103,704,641
Comprehensive income:
Exercise of stock options (in shares)	14,000
Exercise of stock options	$ 140	416,620			416,760
Balance as of March 31, 2015 (in shares) at Mar. 31, 2014	4,851,043
Comprehensive income:
Repurchase of common stock (in shares)	(25,393)
Repurchase of common stock	$ (254)	(1,263,151)			(1,263,405)
Balance as of March 31, 2014 (in shares)	4,851,043
Exercise of stock options (in shares)	6,910
Exercise of stock options	$ 70	$ 302,631			302,701
Repurchase of common stock					0
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
Balance as of March 31, 2014 (in shares)	4,851,043
Balance as of March 31, 2014 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
Cash dividends declared ($2.06 per share of common stock)				$ (10,000,000)	(10,000,000)
Balance as of March 31, 2015 (in shares) at Mar. 31, 2015	4,857,953
Comprehensive income:
Repurchase of common stock					0
Balance as of March 31, 2014 (in shares)	4,857,953
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)
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
Balance as of March 31, 2014 (in shares)	4,857,953
Balance as of March 31, 2014 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
Cash dividends declared ($2.06 per share of common stock)				$ (19,414,864)	(19,414,864)
Balance as of March 31, 2015 (in shares) at Mar. 31, 2016	4,835,010
Comprehensive income:
Repurchase of common stock (in shares)	(41,033)
Repurchase of common stock	$ (411)	$ (2,311,262)			$ (1,695,788)
Balance as of March 31, 2014 (in shares)	4,835,010

Statement of Stockholders' Equ7

Statement of Stockholders' Equity (Parentheticals) - $ / shares	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Additional Paid-in Capital [Member]
Cash dividends declared per common share (in dollars per share)	$ 4	$ 2.06

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
OPERATING ACTIVITIES
Net income	$ 12,292,315	$ 14,368,354	$ 11,135,875
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	850,970	934,371	844,339
Stock-based compensation	21,160	58,960	53,200
Excess tax benefits	(352,294)	(24,288)	(57,472)
Deferred income taxes	295,827	155,713	121,881
Changes in operating assets and liabilities
Accounts receivable	719,888	(632,400)	189,821
Inventories	537,259	(535,159)	129,259
Prepaid expenses and other assets	(159,611)	241,363	141,871
Accounts payable and accrued expenses	(611,290)	$ 303,152	$ (157,350)
Deferred revenue	714,805
Net cash provided by operating activities	14,309,029	$ 14,870,066	$ 12,401,424
INVESTING ACTIVITIES
Purchases of fixed assets	(287,275)	(185,007)	(160,718)
Purchases of marketable securities	(14,568,089)	(8,997,086)	(22,753,916)
Proceeds from maturities of marketable securities	19,725,000	12,160,000	10,055,000
Net cash provided by (used in) investing activities	4,869,636	2,977,907	(12,859,634)
FINANCING ACTIVITIES
Proceeds from sale of common stock	292,909	302,701	416,760
Excess tax benefits	352,294	$ 24,288	57,472
Repurchase of common stock	(2,311,673)		$ (1,263,405)
Payment of dividends to shareholders	(19,414,864)	$ (10,000,000)
Net cash used in financing activities	(21,081,334)	(9,673,011)	$ (789,173)
(Decrease) increase in cash and cash equivalents	(1,902,669)	8,174,962	(1,247,383)
Cash and cash equivalents at beginning of year	9,437,262	1,262,300	2,509,683
Cash and cash equivalents at end of year	7,534,593	9,437,262	1,262,300
Supplemental disclosures of cash flow information:
Cash paid during the year for income taxes	$ 5,810,000	$ 6,800,000	$ 5,263,033

Note 1 - Description of Busines

Note 1 - Description of Business	12 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	NOTE 1. DESCRIPTION OF BUSINESS

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Cash and Cash Equivalents Fair Value of Financial Instruments Marketable Securities We consider an other-than-temporary impairment of our marketable securities to exist if we determine it is probable that we will be unable to collect all amounts due according to the contractual terms of a debt security. If we judged a decline in fair value for any security to be other than temporary, the cost basis of the individual security would be written down and a charge recognized in net income. We consider a number of factors in determining whether other-than-temporary impairment exists, including: credit market conditions; the credit ratings of the securities; historical default rates for securities of comparable credit rating; the presence of insurance of the securities and, if insured, the credit rating and financial condition of the insurer; the effect of market interest rates on the value of the securities; and the duration and extent of any unrealized losses. We also consider the likelihood that we will be required to sell the securities prior to maturity based on our financial condition and anticipated cash flows. We determined that no write-downs for other-than-temporary impairment were required on available-for-sale securities during fiscal 2016, 2015, or 2014. Concentration of Risk and Financial Instruments Cash and cash equivalents have been maintained in financial institutions we believe have high credit quality, however these accounts are generally in excess of federally insured amounts. We have invested our excess cash in corporate-backed and municipal-backed bonds and money market instruments. Our investment policy prescribes purchases of only high-grade securities, and limits the amount of credit exposure to any one issuer. Our customers are throughout the world. We generally do not require collateral from our customers, but we perform ongoing credit evaluations of their financial condition. More information on accounts receivable is contained in the paragraph titled “Accounts Receivable and Allowance for Doubtful Accounts” of this note. Additionally, we are dependent on critical suppliers including our packaging vendors and suppliers of certain raw silicon and semiconductor wafers that are incorporated in our products. Accounts Receivable and Allowance for Doubtful Accounts Inventories Product Warranty Fixed Assets Revenue Recognition Product Revenue Recognition Shipping charges billed to customers are included in product sales and the related shipping costs are included in selling, general, and administrative expense. Such shipping costs were $20,721 for fiscal 2016, $12,771 for fiscal 2015, and $15,542 for fiscal 2014. Our stocking distributors take title and assume the risks and rewards of product ownership. Payments from our distributors are not contingent on resale or any other matter other than the passage of time, and delivery of products is not dependent on the number of units resold to the ultimate customer. There are no other significant acceptance criteria, pricing or payment terms that would affect revenue recognition. Accounting for Commissions and Discounts We presume consideration given to a customer is a reduction in revenue unless both of the following conditions are met: (i) we receive an identifiable benefit in exchange for the consideration and the identifiable benefit is sufficiently separable from the customer’s purchase of our products such that we could have purchased the products or services from a third party; and (ii) we can reasonably estimate the fair value of the benefit received. We recognize discounts provided to our distributors as reductions in revenue. Research and Development Contract Revenue Recognition Cost-plus-fixed-fee contracts are cost-reimbursement contracts that also provide for payment to us of a negotiated fee that is fixed at the inception of the contract. The costs for which we earn reimbursement are the actual costs incurred and are recorded in the period in which they are incurred. We recognize the contract fees pro-rata as work progresses. Income Taxes Research and Development Expense Recognition Stock-Based Compensation Net Income Per Share Year Ended March 31 2016 2015 2014 Weighted average common shares outstanding – basic 4,850,209 4,855,504 4,851,460 Effect of dilutive securities: Stock options 2,393 16,431 15,639 Warrants - - 592 Shares used in computing net income per share – diluted 4,852,602 4,871,935 4,867,691 Use of Estimates Recently Issued Accounting Standards Accounting Pronouncements Recently Adopted Balance Sheet Classification of Deferred Taxes Future Accounting Pronouncements Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing In March 2016, the FASB issued ASU No. 2016-09, Compensation—Stock Compensation Revenue from Contracts with Customers: Principal versus Agent Considerations In February 2016, the FASB issued ASU No. 2016-02, Lease Accounting In January 2016, the FASB issued ASU No. 2016-1, Financial Instruments—Overall: Recognition and Measurement of Financial Assets and Financial Liabilities In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) Revenue Recognition Revenue from Contracts with Customers: Deferral of the Effective Date

Note 3 - Fair Value Measurement

Note 3 - Fair Value Measurements	12 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Fair Value Disclosures [Text Block]	NOTE 3. FAIR VALUE MEASUREMENTS

Note 4 - Marketable Securities

Note 4 - Marketable Securities	12 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	NOTE 4. MARKETABLE SECURITIES Total <1 Year 1–3 Years 3–5 Years $ 85,392,719 $ 19,697,384 $ 40,772,154 $ 24,923,181 As of March 31, 2016 As of March 31, 2015 Gross Gross Fair Gross Gross Fair Corporate bonds $ 83,339,487 $ 717,206 $ (10,824 ) $ 84,045,869 $ 88,456,886 $ 1,185,469 $ (16,371 ) $ 89,625,984 Municipal bonds 1,344,328 2,522 - 1,346,850 1,383,839 3,272 - 1,387,111 Total $ 84,683,815 $ 719,728 $ (10,824 ) $ 85,392,719 $ 89,840,725 $ 1,188,741 $ (16,371 ) $ 91,013,095 Less Than 12 Months 12 Months or Greater Total Fair Gross Fair Gross Fair Gross 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 ) As of March 31, 2015 Corporate bonds $ 3,015,900 $ (163 ) $ 2,590,240 $ (16,208 ) $ 5,606,140 $ (16,371 ) Municipal bonds - - - - - - Total $ 3,015,900 $ (163 ) $ 2,590,240 $ (16,208 ) $ 5,606,140 $ (16,371 )

Note 5 - Inventories

Note 5 - Inventories	12 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 5. INVENTORIES March 31 2016 2015 Raw materials $ 810,987 $ 738,169 Work in process 1,653,800 2,302,751 Finished goods 740,446 701,572 Total inventories $ 3,205,233 $ 3,742,492

Note 6 - Stock-based Compensati

Note 6 - Stock-based Compensation	12 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE 6. STOCK-BASED COMPENSATION Valuation assumptions Year Ended March 31 2016 2015 2014 Risk-free interest rate 1.6 % 1.6 % 1.4 % Expected volatility 26 % 24 % 30 % Expected life (years) 4.3 4.2 4.3 Dividend yield 7.1 % 0 % 0 % Expected life Risk-free interest rate Volatility Dividend yield Tax effects of stock-based compensation General stock option information Ranges of Number Weighted Average Weighted Remaining $ 31.27 - 42.45 5,000 $ 37.12 2.8 51.04 - 67.69 16,000 57.77 7.2 21,000 $ 52.85 6.2 Option Shares Options Weighted Average Warrants Weighted Average At March 31, 2013 158,230 49,000 $ 30.27 4,000 $ 29.69 Granted (4,000 ) 4,000 $ 49.86 - - Exercised - (14,000 ) $ 29.77 - - Terminated 1,000 (1,000 ) $ 58.27 (2,000 ) 21.99 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 - $ -

Note 7 - Income Taxes

Note 7 - Income Taxes	12 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 7. INCOME TAXES Year Ended March 31 2016 2015 2014 Current taxes Federal $ 5,754,428 $ 6,608,923 $ 5,010,734 State 186,822 330,971 304,931 Deferred taxes Federal (55,254 ) 125,070 61,306 State (1,214 ) 6,356 3,103 Income tax provision $ 5,884,782 $ 7,071,320 $ 5,380,074 Year Ended March 31 2016 2015 2014 Tax expense at U.S. statutory rate $ 6,272,341 $ 7,503,886 $ 5,667,281 State income taxes, net of Federal benefit 118,057 216,518 199,751 Domestic manufacturing deduction (476,932 ) (600,207 ) (443,708 ) Municipal interest (4,171 ) (11,489 ) (28,456 ) Other (24,513 ) (37,388 ) (14,794 ) Income tax provision $ 5,884,782 $ 7,071,320 $ 5,380,074 March 31 2016 2015 Vacation accrual $ 118,611 $ 114,217 Inventory reserve 90,825 65,394 Depreciation (30,174 ) (63,631 ) Stock-based compensation deductions 115,257 107,570 Unrealized gain on marketable securities (257,545 ) (425,922 ) Other 14,214 28,716 Net deferred tax assets (liabilities) $ 51,188 $ (173,656 ) Reported as: Deferred tax assets $ - $ 102,052 Long-term deferred tax assets 51,188 - Long-term deferred tax liabilities - (275,708 ) Net deferred tax assets (liabilities) $ 51,188 $ (173,656 )

Note 8 - Concentrations

Note 8 - Concentrations	12 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	NOTE 8. CONCENTRATIONS % of Revenue for Year Ended March 31 2016 2015 2014 Customer A 23 % 20 % 17 % Customer B 20 % 16 % 19 % Customer C * 14 % 15 % Customer D * 12 % 10 % *Less than 10% Year Ended March 31 2016 2015 2014 United States $ 12,392,053 $ 11,919,548 $ 11,159,443 Europe 11,392,046 13,779,392 11,065,547 Asia 3,113,484 4,318,209 3,374,202 Other 819,695 566,939 335,715 Total Revenue $ 27,717,278 $ 30,584,088 $ 25,934,907

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	12 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 9. COMMITMENTS AND CONTINGENCIES Year Ending March 31 2017 2018 2019 2020 2021 Total $ 271,318 $ 275,377 $ 278,472 $ 282,406 $ 214,207 $ 1,321,780

Note 10 - Stock Repurchase Prog

Note 10 - Stock Repurchase Program	12 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Stock Repurchase Plan Disclosure [Text Block]	NOTE 10. STOCK REPURCHASE PROGRAM

Note 11 - Information As to Emp

Note 11 - Information As to Employee Stock Purchase, Savings, and Similar Plans	12 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	NOTE 11. INFORMATION AS TO EMPLOYEE STOCK PURCHASE, SAVINGS, AND SIMILAR PLANS

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments
Marketable Securities, Policy [Policy Text Block]	Marketable Securities We consider an other-than-temporary impairment of our marketable securities to exist if we determine it is probable that we will be unable to collect all amounts due according to the contractual terms of a debt security. If we judged a decline in fair value for any security to be other than temporary, the cost basis of the individual security would be written down and a charge recognized in net income. We consider a number of factors in determining whether other-than-temporary impairment exists, including: credit market conditions; the credit ratings of the securities; historical default rates for securities of comparable credit rating; the presence of insurance of the securities and, if insured, the credit rating and financial condition of the insurer; the effect of market interest rates on the value of the securities; and the duration and extent of any unrealized losses. We also consider the likelihood that we will be required to sell the securities prior to maturity based on our financial condition and anticipated cash flows. We determined that no write-downs for other-than-temporary impairment were required on available-for-sale securities during fiscal 2016, 2015, or 2014.
Concentration Of Risk and Financial Instruments Policy [Policy Text Block]	Concentration of Risk and Financial Instruments Cash and cash equivalents have been maintained in financial institutions we believe have high credit quality, however these accounts are generally in excess of federally insured amounts. We have invested our excess cash in corporate-backed and municipal-backed bonds and money market instruments. Our investment policy prescribes purchases of only high-grade securities, and limits the amount of credit exposure to any one issuer. Our customers are throughout the world. We generally do not require collateral from our customers, but we perform ongoing credit evaluations of their financial condition. More information on accounts receivable is contained in the paragraph titled “Accounts Receivable and Allowance for Doubtful Accounts” of this note. Additionally, we are dependent on critical suppliers including our packaging vendors and suppliers of certain raw silicon and semiconductor wafers that are incorporated in our products.
Receivables, Policy [Policy Text Block]	Accounts Receivable and Allowance for Doubtful Accounts
Inventory, Policy [Policy Text Block]	Inventories
Standard Product Warranty, Policy [Policy Text Block]	Product Warranty
Property, Plant and Equipment, Policy [Policy Text Block]	Fixed Assets
Revenue Recognition, Sales of Goods [Policy Text Block]	Revenue Recognition Product Revenue Recognition Shipping charges billed to customers are included in product sales and the related shipping costs are included in selling, general, and administrative expense. Such shipping costs were $20,721 for fiscal 2016, $12,771 for fiscal 2015, and $15,542 for fiscal 2014. Our stocking distributors take title and assume the risks and rewards of product ownership. Payments from our distributors are not contingent on resale or any other matter other than the passage of time, and delivery of products is not dependent on the number of units resold to the ultimate customer. There are no other significant acceptance criteria, pricing or payment terms that would affect revenue recognition.
Revenue Recognition, Services, Commissions [Policy Text Block]	Accounting for Commissions and Discounts We presume consideration given to a customer is a reduction in revenue unless both of the following conditions are met: (i) we receive an identifiable benefit in exchange for the consideration and the identifiable benefit is sufficiently separable from the customer’s purchase of our products such that we could have purchased the products or services from a third party; and (ii) we can reasonably estimate the fair value of the benefit received. We recognize discounts provided to our distributors as reductions in revenue.
Revenue Recognition Research And Development Contract Policy [Policy Text Block]	Research and Development Contract Revenue Recognition Cost-plus-fixed-fee contracts are cost-reimbursement contracts that also provide for payment to us of a negotiated fee that is fixed at the inception of the contract. The costs for which we earn reimbursement are the actual costs incurred and are recorded in the period in which they are incurred. We recognize the contract fees pro-rata as work progresses.
Income Tax, Policy [Policy Text Block]	Income Taxes We account for income taxes using the liability method. Deferred income taxes are provided for temporary differences between the financial reporting and tax bases of assets and liabilities. We provide valuation allowances against deferred tax assets if we determine that it is less likely than not that we will be able to utilize the deferred tax assets.
Research and Development Expense, Policy [Policy Text Block]	Research and Development Expense Recognition Research and development costs are expensed as they are incurred.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation We measure stock based compensation cost at the grant date based on the fair value of the award and recognize the compensation expense over the requisite service period, which is generally the vesting period. We estimate pre vesting option forfeitures at the time of grant by analyzing historical data and revise those estimates in subsequent periods if actual forfeitures differ from those estimates. Ultimately, the total expense recognized over the vesting period will only be for those awards that vest.
Earnings Per Share, Policy [Policy Text Block]	Net Income Per Share Year Ended March 31 2016 2015 2014 Weighted average common shares outstanding – basic 4,850,209 4,855,504 4,851,460 Effect of dilutive securities: Stock options 2,393 16,431 15,639 Warrants - - 592 Shares used in computing net income per share – diluted 4,852,602 4,871,935 4,867,691
Use of Estimates, Policy [Policy Text Block]	Use of Estimates
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Standards Accounting Pronouncements Recently Adopted Balance Sheet Classification of Deferred Taxes Future Accounting Pronouncements Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing In March 2016, the FASB issued ASU No. 2016-09, Compensation—Stock Compensation Revenue from Contracts with Customers: Principal versus Agent Considerations In February 2016, the FASB issued ASU No. 2016-02, Lease Accounting In January 2016, the FASB issued ASU No. 2016-1, Financial Instruments—Overall: Recognition and Measurement of Financial Assets and Financial Liabilities In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) Revenue Recognition Revenue from Contracts with Customers: Deferral of the Effective Date

Note 2 - Summary of Significa21

Note 2 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Weighted Average Number of Shares [Table Text Block]	Year Ended March 31 2016 2015 2014 Weighted average common shares outstanding – basic 4,850,209 4,855,504 4,851,460 Effect of dilutive securities: Stock options 2,393 16,431 15,639 Warrants - - 592 Shares used in computing net income per share – diluted 4,852,602 4,871,935 4,867,691

Note 4 - Marketable Securities

Note 4 - Marketable Securities (Tables)	12 Months Ended
	Mar. 31, 2016
Notes Tables
Marketable Securities [Table Text Block]	Total <1 Year 1–3 Years 3–5 Years $ 85,392,719 $ 19,697,384 $ 40,772,154 $ 24,923,181
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	As of March 31, 2016 As of March 31, 2015 Gross Gross Fair Gross Gross Fair Corporate bonds $ 83,339,487 $ 717,206 $ (10,824 ) $ 84,045,869 $ 88,456,886 $ 1,185,469 $ (16,371 ) $ 89,625,984 Municipal bonds 1,344,328 2,522 - 1,346,850 1,383,839 3,272 - 1,387,111 Total $ 84,683,815 $ 719,728 $ (10,824 ) $ 85,392,719 $ 89,840,725 $ 1,188,741 $ (16,371 ) $ 91,013,095
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, 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 ) As of March 31, 2015 Corporate bonds $ 3,015,900 $ (163 ) $ 2,590,240 $ (16,208 ) $ 5,606,140 $ (16,371 ) Municipal bonds - - - - - - Total $ 3,015,900 $ (163 ) $ 2,590,240 $ (16,208 ) $ 5,606,140 $ (16,371 )

Note 5 - Inventories (Tables)

Note 5 - Inventories (Tables)	12 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31 2016 2015 Raw materials $ 810,987 $ 738,169 Work in process 1,653,800 2,302,751 Finished goods 740,446 701,572 Total inventories $ 3,205,233 $ 3,742,492

Note 6 - Stock-based Compensa24

Note 6 - Stock-based Compensation (Tables)	12 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Year Ended March 31 2016 2015 2014 Risk-free interest rate 1.6 % 1.6 % 1.4 % Expected volatility 26 % 24 % 30 % Expected life (years) 4.3 4.2 4.3 Dividend yield 7.1 % 0 % 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 $ 31.27 - 42.45 5,000 $ 37.12 2.8 51.04 - 67.69 16,000 57.77 7.2 21,000 $ 52.85 6.2
Schedule of Share-based Compensation, Activity [Table Text Block]	Option Shares Options Weighted Average Warrants Weighted Average At March 31, 2013 158,230 49,000 $ 30.27 4,000 $ 29.69 Granted (4,000 ) 4,000 $ 49.86 - - Exercised - (14,000 ) $ 29.77 - - Terminated 1,000 (1,000 ) $ 58.27 (2,000 ) 21.99 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 - $ -

Note 7 - Income Taxes (Tables)

Note 7 - Income Taxes (Tables)	12 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Year Ended March 31 2016 2015 2014 Current taxes Federal $ 5,754,428 $ 6,608,923 $ 5,010,734 State 186,822 330,971 304,931 Deferred taxes Federal (55,254 ) 125,070 61,306 State (1,214 ) 6,356 3,103 Income tax provision $ 5,884,782 $ 7,071,320 $ 5,380,074
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Year Ended March 31 2016 2015 2014 Tax expense at U.S. statutory rate $ 6,272,341 $ 7,503,886 $ 5,667,281 State income taxes, net of Federal benefit 118,057 216,518 199,751 Domestic manufacturing deduction (476,932 ) (600,207 ) (443,708 ) Municipal interest (4,171 ) (11,489 ) (28,456 ) Other (24,513 ) (37,388 ) (14,794 ) Income tax provision $ 5,884,782 $ 7,071,320 $ 5,380,074
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	March 31 2016 2015 Vacation accrual $ 118,611 $ 114,217 Inventory reserve 90,825 65,394 Depreciation (30,174 ) (63,631 ) Stock-based compensation deductions 115,257 107,570 Unrealized gain on marketable securities (257,545 ) (425,922 ) Other 14,214 28,716 Net deferred tax assets (liabilities) $ 51,188 $ (173,656 ) Reported as: Deferred tax assets $ - $ 102,052 Long-term deferred tax assets 51,188 - Long-term deferred tax liabilities - (275,708 ) Net deferred tax assets (liabilities) $ 51,188 $ (173,656 )

Note 8 - Concentrations (Tables

Note 8 - Concentrations (Tables)	12 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]	% of Revenue for Year Ended March 31 2016 2015 2014 Customer A 23 % 20 % 17 % Customer B 20 % 16 % 19 % Customer C * 14 % 15 % Customer D * 12 % 10 %
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	Year Ended March 31 2016 2015 2014 United States $ 12,392,053 $ 11,919,548 $ 11,159,443 Europe 11,392,046 13,779,392 11,065,547 Asia 3,113,484 4,318,209 3,374,202 Other 819,695 566,939 335,715 Total Revenue $ 27,717,278 $ 30,584,088 $ 25,934,907

Note 9 - Commitments and Cont27

Note 9 - Commitments and Contingencies (Tables)	12 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Year Ending March 31 2017 2018 2019 2020 2021 Total $ 271,318 $ 275,377 $ 278,472 $ 282,406 $ 214,207 $ 1,321,780

Note 2 - Summary of Significa28

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Furniture and Fixtures [Member]
Property, Plant and Equipment, Useful Life	5 years
Leasehold Improvements [Member]
Property, Plant and Equipment, Useful Life	5 years
Machinery and Equipment [Member]
Property, Plant and Equipment, Useful Life	5 years
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities	$ 0	$ 0	$ 0
Allowance for Doubtful Accounts Receivable, Write-offs	0	0	0
Provision for Doubtful Accounts	0	0	0
Shipping, Handling and Transportation Costs	$ 20,721	$ 12,771	$ 15,542
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	6,000	4,000	4,000
Impairment of Long-Lived Assets Held-for-use	$ 0	$ 0	$ 0
Product Warranty Term	1 year

Note 2 - Weighted Average Numbe

Note 2 - Weighted Average Number of Shares (Details) - shares	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Basic (in shares)	4,850,209	4,855,504	4,851,460
Stock options (in shares)	2,393	16,431	15,639
Warrants (in shares)			592
Shares used in computing net income per share – diluted (in shares)	4,852,602	4,871,935	4,867,691

Note 3 - Fair Value Measureme30

Note 3 - Fair Value Measurements (Details Textual) - USD ($)	Mar. 31, 2016	Mar. 31, 2015
Fair Value, Inputs, Level 1 [Member]
Available-for-sale Securities	$ 84,045,869	$ 89,625,984
Fair Value, Inputs, Level 2 [Member]
Available-for-sale Securities	$ 1,346,850	$ 1,387,111

Note 4 - Marketable Securitie31

Note 4 - Marketable Securities (Details Textual)	12 Months Ended
	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)
Corporate Bond Securities [Member] | Maximum [Member]
Severity of Unrealized Loss, Percentage of Adjusted Cost	0.20%
Corporate Bond Securities [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss	$ 10,824	$ 16,371
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	$ 2,599,870	2,590,240
Number of Corporate Bonds Resulted in Loss	2
Number of Corporate Bonds	25
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year	1
Number of Other-than-temporarily Impaired Marketable Securities	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss	$ 10,824	16,371
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	$ 2,599,870	$ 2,590,240

Note 4 - Fair Value of Marketab

Note 4 - Fair Value of Marketable Securities (Details) - USD ($)	Mar. 31, 2016	Mar. 31, 2015
85,392,719	$ 85,392,719	$ 91,013,095
85,392,719	19,697,384
85,392,719	40,772,154
85,392,719	$ 24,923,181

Note 4 - Reconciliation of Mark

Note 4 - Reconciliation of Marketable Securities (Details) - USD ($)	Mar. 31, 2016	Mar. 31, 2015
Corporate Bond Securities [Member]
Adjusted Cost	$ 83,339,487	$ 88,456,886
Gross Unrealized Gains	717,206	1,185,469
Gross Unrealized Losses	(10,824)	(16,371)
Fair Market Value	84,045,869	89,625,984
Municipal Bonds [Member]
Adjusted Cost	1,344,328	1,383,839
Gross Unrealized Gains	$ 2,522	$ 3,272
Gross Unrealized Losses
Fair Market Value	$ 1,346,850	$ 1,387,111
Adjusted Cost	84,683,815	89,840,725
Gross Unrealized Gains	719,728	1,188,741
Gross Unrealized Losses	(10,824)	(16,371)
Fair Market Value	$ 85,392,719	$ 91,013,095

Note 4 - Gross Unrealized Losse

Note 4 - Gross Unrealized Losses and Fair Value of Investments (Details) - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Corporate Bond Securities [Member]
Fair market value, less than 12 months	$ 3,003,606	$ 3,015,900
Gross unrealized losses, less than 12 months	(6,703)	(163)
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	2,599,870	2,590,240
Gross unrealized losses, greater than 12 months	(4,121)	(16,208)
Total Fair Market Value	5,603,476	5,606,140
Total Gross Unrealized Losses	$ (10,824)	$ (16,371)
Municipal Bonds [Member]
Fair market value, less than 12 months
Gross unrealized losses, less than 12 months
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value
Gross unrealized losses, greater than 12 months
Total Fair Market Value
Total Gross Unrealized Losses
Fair market value, less than 12 months	$ 3,003,606	$ 3,015,900
Gross unrealized losses, less than 12 months	(6,703)	(163)
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	2,599,870	2,590,240
Gross unrealized losses, greater than 12 months	(4,121)	(16,208)
Total Fair Market Value	5,603,476	5,606,140
Total Gross Unrealized Losses	$ (10,824)	$ (16,371)

Note 5 - Inventories (Details)

Note 5 - Inventories (Details) - USD ($)	Mar. 31, 2016	Mar. 31, 2015
Raw materials	$ 810,987	$ 738,169
Work in process	1,653,800	2,302,751
Finished goods	740,446	701,572
Total inventories	$ 3,205,233	$ 3,742,492

Note 6 - Stock-based Compensa36

Note 6 - Stock-based Compensation (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
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
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period		6 years 73 days	3 years 182 days	4 years 73 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	38,000	21,000	35,090	38,000	49,000
Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	146 days
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	2,000	0	0	2,000	4,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		5 years
Allocated Share-based Compensation Expense		$ 21,160	$ 58,960	$ 53,200
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate		7.10%	0.00%	0.00%
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options		$ 7,688	$ 21,420
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized		0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value		969,704
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value		126,220
Share-based Compensation Arrangement by Share Based Payment Award Options Grants in Period Fair Value		$ 21,160

Note 6 - Schedule of Valuation

Note 6 - Schedule of Valuation Assumptions (Details)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Risk-free interest rate	1.60%	1.60%	1.40%
Expected volatility	26.00%	24.00%	30.00%
Expected life (years)	4 years 109 days	4 years 73 days	4 years 109 days
Dividend yield	7.10%	0.00%	0.00%

Note 6 - Summary of Options Out

Note 6 - Summary of Options Outstanding (Details)	12 Months Ended
	Mar. 31, 2016$ / sharesshares
Range One [Member]
Ranges of Exercise Prices, Lower Limit (in dollars per share)	$ 31.27
Ranges of Exercise Prices, Upper Limit (in dollars per share)	$ 5,000
Number Outstanding (in shares) | shares	37.12
Weighted Average Exercise Price (in dollars per share)	$ 2.80
Range Two [Member]
Ranges of Exercise Prices, Lower Limit (in dollars per share)	51.04
Ranges of Exercise Prices, Upper Limit (in dollars per share)	$ 16,000
Number Outstanding (in shares) | shares	57.77
Weighted Average Exercise Price (in dollars per share)	$ 7.20
Number Outstanding (in shares) | shares	52.85
Weighted Average Exercise Price (in dollars per share)	$ 6.20

Note 6 - Summary of Stock Optio

Note 6 - Summary of Stock Options and Warrants (Details) - $ / shares	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Option Shares Reserved [Member]
Options Outstanding (in shares)	147,230	151,230	155,230	158,230
Granted (in shares)	(4,000)	(4,000)	(4,000)
Exercised (in shares)
Terminated (in shares)			(1,000)
Employee Stock Option [Member]
Options Outstanding (in shares)	21,000	35,090	38,000	49,000
Weighted Average Option Exercise Price (in dollars per share)	$ 52.85	$ 33.51	$ 31.78	$ 30.27
Granted (in shares)	4,000	4,000	4,000
Granted (in dollars per share)	$ 56.76	$ 67.69	$ 49.86
Exercised (in shares)	(18,090)	(6,910)	(14,000)
Exercised (in dollars per share)	$ 16.19	$ 43.81	$ 29.77
Terminated (in shares)			(1,000)
Terminated (in dollars per share)			$ 58.27
Warrants [Member]
Options Outstanding (in shares)	0	0	2,000	4,000
Weighted Average Option Exercise Price (in dollars per share)			$ 37.38	$ 29.69
Granted (in shares)
Granted (in dollars per share)
Exercised (in shares)
Exercised (in dollars per share)
Terminated (in shares)		(2,000)	(2,000)
Terminated (in dollars per share)		$ 37.38	$ 21.99

Note 7 - Income Taxes (Details

Note 7 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Earliest Tax Year [Member]
Open Tax Year	1,999
Latest Tax Year [Member]
Open Tax Year	2,012
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation	$ 352,294	$ 24,288	$ 57,472
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

Note 7 - Schedule of Income Tax

Note 7 - Schedule of Income Tax Provisions (Details) - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Current taxes
Federal	$ 5,754,428	$ 6,608,923	$ 5,010,734
State	186,822	330,971	304,931
Deferred taxes
Federal	(55,254)	125,070	61,306
State	(1,214)	6,356	3,103
Income tax provision	$ 5,884,782	$ 7,071,320	$ 5,380,074

Note 7 - Reconciliation of Inco

Note 7 - Reconciliation of Income Tax Provisions (Details) - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Tax expense at U.S. statutory rate	$ 6,272,341	$ 7,503,886	$ 5,667,281
State income taxes, net of Federal benefit	118,057	216,518	199,751
Domestic manufacturing deduction	(476,932)	(600,207)	(443,708)
Municipal interest	(4,171)	(11,489)	(28,456)
Other	(24,513)	(37,388)	(14,794)
Income tax provision	$ 5,884,782	$ 7,071,320	$ 5,380,074

Note 7 - Deferred Tax Assets an

Note 7 - Deferred Tax Assets and Liabilities (Details) - USD ($)	Mar. 31, 2016	Mar. 31, 2015
Vacation accrual	$ 118,611	$ 114,217
Inventory reserve	90,825	65,394
Depreciation and amortization	(30,174)	(63,631)
Stock-based compensation deductions	115,257	107,570
Unrealized gain on marketable securities	(257,545)	(425,922)
Other	14,214	28,716
Net deferred tax assets (liabilities)	$ 51,188
Net deferred tax assets (liabilities)		(173,656)
Deferred tax assets		$ 102,052
Long-term deferred tax assets	$ 51,188
Long-term deferred tax liabilities		$ (275,708)

Note 8 - Concentrations (Detail

Note 8 - Concentrations (Details Textual)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accounts Receivable [Member]
Concentration Risk, Percentage	36.00%	64.00%
Number of Major Customers	2	4

Note 8 - Revenue By Major Custo

Note 8 - Revenue By Major Customers (Details) - Sales Revenue, Net [Member]	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Customer A [Member]
Percentage of concentration	23.00%	20.00%	17.00%
Customer B [Member]
Percentage of concentration	20.00%	16.00%	19.00%
Customer C [Member[
Percentage of concentration		14.00%	15.00%
Customer D [Member]
Percentage of concentration		12.00%	10.00%

Note 8 - Revenue By Geographic

Note 8 - Revenue By Geographic Region (Details) - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
UNITED STATES
Revenue	$ 12,392,053	$ 11,919,548	$ 11,159,443
Europe [Member]
Revenue	11,392,046	13,779,392	11,065,547
Asia [Member]
Revenue	3,113,484	4,318,209	3,374,202
Other Areas [Member]
Revenue	819,695	566,939	335,715
Revenue	$ 27,717,278	$ 30,584,088	$ 25,934,907

Note 9 - Commitments and Cont47

Note 9 - Commitments and Contingencies (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Payments for (Proceeds from) Loans and Leases	$ 270,627	$ 269,473	$ 265,357

Note 9 - Schedule of Future Min

Note 9 - Schedule of Future Minimum Lease Payments (Details)	Mar. 31, 2016USD ($)
271,318	$ 271,318
271,318	275,377
271,318	278,472
271,318	282,406
271,318	214,207
271,318	$ 1,321,780

Note 10 - Stock Repurchase Pr49

Note 10 - Stock Repurchase Program (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014	Aug. 27, 2015	Jan. 21, 2009
Stock Repurchased and Retired During Period, Value	$ 1,695,788	$ 0	$ 1,263,405
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 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 E50

Note 11 - Information As to Employee Stock Purchase, Savings, and Similar Plans (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
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, Contributions by Employer	$ 94,831	$ 105,554	$ 101,100