Quarterly Results (unaudited)

12 Months Ended

Mar. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

(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.