Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income and Comprehensive Income

v2.4.1.9
Consolidated Statements of Income and Comprehensive Income (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Condensed Statements Of Income And Comprehensive Income    
ROYALTY REVENUE $ 5,627,000us-gaap_RoyaltyRevenue $ 4,491,000us-gaap_RoyaltyRevenue
COST OF REVENUE 1,689,000us-gaap_CostOfRevenue 1,314,000us-gaap_CostOfRevenue
GROSS PROFIT 3,938,000us-gaap_GrossProfit 3,177,000us-gaap_GrossProfit
OPERATING EXPENSES:    
General and administrative 1,105,000us-gaap_GeneralAndAdministrativeExpense 598,000us-gaap_GeneralAndAdministrativeExpense
Amortization of patents 413,000us-gaap_AdjustmentForAmortization 409,000us-gaap_AdjustmentForAmortization
Stock-based compensation 100,000us-gaap_ShareBasedCompensation 27,000us-gaap_ShareBasedCompensation
TOTAL OPERATING EXPENSES 1,618,000us-gaap_OperatingExpenses 1,034,000us-gaap_OperatingExpenses
OPERATING INCOME 2,320,000us-gaap_OperatingIncomeLoss 2,143,000us-gaap_OperatingIncomeLoss
OTHER INCOME (EXPENSES):    
Interest income, net 21,000us-gaap_InterestIncomeExpenseNet 9,000us-gaap_InterestIncomeExpenseNet
INCOME BEFORE INCOME TAXES 2,341,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 2,152,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
INCOME TAXES    
Current 55,000us-gaap_CurrentIncomeTaxExpenseBenefit 45,000us-gaap_CurrentIncomeTaxExpenseBenefit
Deferred 756,000us-gaap_DeferredIncomeTaxExpenseBenefit 711,000us-gaap_DeferredIncomeTaxExpenseBenefit
Total Income Taxes 811,000us-gaap_IncomeTaxExpenseBenefit 756,000us-gaap_IncomeTaxExpenseBenefit
NET INCOME 1,530,000us-gaap_NetIncomeLoss 1,396,000us-gaap_NetIncomeLoss
Net Income per share    
Basic $ 0.06us-gaap_EarningsPerShareBasic $ 0.05us-gaap_EarningsPerShareBasic
Diluted $ 0.06us-gaap_EarningsPerShareDiluted $ 0.05us-gaap_EarningsPerShareDiluted
Weighted average number of common shares outstanding:    
Basic 24,089,009us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 25,775,573us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Diluted 25,500,903us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 27,793,669us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
NET INCOME 1,530,000us-gaap_NetIncomeLoss 1,396,000us-gaap_NetIncomeLoss
OTHER COMPREHENSIVE INCOME:    
Unrealized holding gain (loss) on securities available-for-sale arising during the period 20,000us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax (6,000)us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
COMPREHENSIVE INCOME $ 1,550,000us-gaap_ComprehensiveIncomeNetOfTax $ 1,390,000us-gaap_ComprehensiveIncomeNetOfTax