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Quarterly Results (unaudited) | 12 Months Ended
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Mar. 31, 2017
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Results (unaudited) | (N) Quarterly Results (unaudited)
|  | For the Years Ended March 31, |
|  | 2017 |  |  | 2016 |
|  | (dollars in thousands, except per share data) |
First Quarter - |  |  |  |  |  |  |  |
Revenues |  | $ | 297,504 |  |  | $ | 284,963 |
Gross Profit |  |  | 71,955 |  |  |  | 61,097 |
Earnings Before Income Taxes |  |  | 67,276 |  |  |  | 55,885 |
Net Earnings |  |  | 45,344 |  |  |  | 37,762 |
Diluted Earnings Per Share |  | $ | 0.93 |  |  | $ | 0.75 |
Second Quarter - |  |  |  |  |  |  |  |
Revenues |  | $ | 332,658 |  |  | $ | 328,988 |
Gross Profit |  |  | 91,210 |  |  |  | 44,294 |
Earnings Before Income Taxes |  |  | 89,373 |  |  |  | 42,840 |
Net Earnings |  |  | 60,237 |  |  |  | 29,819 |
Diluted Earnings Per Share |  | $ | 1.25 |  |  | $ | 0.59 |
Third Quarter - |  |  |  |  |  |  |  |
Revenues |  | $ | 302,395 |  |  | $ | 277,409 |
Gross Profit |  |  | 87,380 |  |  |  | 68,865 |
Earnings Before Income Taxes |  |  | 83,689 |  |  |  | 68,205 |
Net Earnings |  |  | 56,387 |  |  |  | 45,848 |
Diluted Earnings Per Share |  | $ | 1.17 |  |  | $ | 0.92 |
Fourth Quarter - |  |  |  |  |  |  |  |
Revenues |  | $ | 278,663 |  |  | $ | 252,132 |
Gross Profit |  |  | 61,500 |  |  |  | 57,361 |
Earnings Before Income Taxes |  |  | 54,181 |  |  |  | 52,322 |
Net Earnings |  |  | 36,251 |  |  |  | 39,163 |
Diluted Earnings Per Share |  | $ | 0.75 |  |  | $ | 0.80 |
The fourth quarter of fiscal 2017 were adversely impacted by approximately $4.4 million of costs related to the completion of the Fairborn Acquisition. Additionally, our fourth quarter cement earnings were adversely impacted by approximately $5.0 million of annual maintenance costs at our Fairborn plant, as well as the impact of purchase accounting on our inventory costs. The fourth quarter of fiscal 2016 was adversely impacted approximately $6.6 million, $4.1 million and $1.0 million related to impairment of customer contract intangibles, write-down of raw sand inventory and an increase in the bad debt reserve, respectively. This amount was partially offset by a customer forfeiture of amounts prepaid for sand purchases totaling $10.7 million during the fourth quarter of fiscal 2016. See the Intangible Assets discussion in Footnote (A) of the Notes to Consolidated Financial Statements for more information about the impairment and customer forfeiture of prepaid sand.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=68076893&loc=d3e1570-108306 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e765-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e725-108305 + Details
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