<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
UNAUDITED FINANCIAL STATEMENTS CONTAINED IN THE COMPANY'S QUARTERLY REPORT ON
FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 1999, AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               MAR-31-1999
<CASH>                                       5,882,978
<SECURITIES>                                20,095,210
<RECEIVABLES>                                2,096,214
<ALLOWANCES>                                         0
<INVENTORY>                                    527,920
<CURRENT-ASSETS>                            30,275,914
<PP&E>                                       6,480,921
<DEPRECIATION>                             (3,592,540)
<TOTAL-ASSETS>                              34,541,245
<CURRENT-LIABILITIES>                        5,998,164
<BONDS>                                              0
<PREFERRED-MANDATORY>                       11,219,276
<PREFERRED>                                          0
<COMMON>                                     3,618,779
<OTHER-SE>                                  13,160,547
<TOTAL-LIABILITY-AND-EQUITY>                16,779,326
<SALES>                                              0
<TOTAL-REVENUES>                            14,588,081
<CGS>                                                0
<TOTAL-COSTS>                                9,821,807
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                              4,766,274
<INCOME-TAX>                                 1,972,526
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 2,793,748
<EPS-PRIMARY>                                      .11
<EPS-DILUTED>                                      .10