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QUARTERLY RESULTS (UNAUDITED) | 12 Months Ended
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Mar. 31, 2019
Quarterly Financial Information Disclosure [Abstract] |
QUARTERLY RESULTS (UNAUDITED) | (M) Quarterly Results (unaudited)
|  | For the Years Ended March 31, |
|  | 2019 |  |  | 2018 |
|  | (dollars in thousands, except per share data) |
First Quarter - |  |  |  |  |  |  |  |
Revenue |  | $ | 393,756 |  |  | $ | 366,121 |
Gross Profit |  |  | 91,634 |  |  |  | 86,059 |
Earnings Before Income Taxes |  |  | 85,021 |  |  |  | 79,530 |
Net Earnings |  |  | 66,339 |  |  |  | 54,882 |
Diluted Earnings Per Share |  | $ | 1.38 |  |  | $ | 1.13 |
Second Quarter - |  |  |  |  |  |  |  |
Revenue |  | $ | 381,499 |  |  | $ | 376,315 |
Gross Profit |  |  | 97,931 |  |  |  | 96,754 |
Earnings Before Income Taxes |  |  | 91,793 |  |  |  | 92,319 |
Net Earnings |  |  | 72,603 |  |  |  | 63,362 |
Diluted Earnings Per Share |  | $ | 1.53 |  |  | $ | 1.31 |
Third Quarter - |  |  |  |  |  |  |  |
Revenue |  | $ | 333,285 |  |  | $ | 359,371 |
Gross Profit |  |  | 80,421 |  |  |  | 94,566 |
Earnings Before Income Taxes |  |  | 74,518 |  |  |  | 51,388 |
Net Earnings |  |  | 57,715 |  |  |  | 101,380 |
Diluted Earnings Per Share |  | $ | 1.24 |  |  | $ | 2.08 |
Fourth Quarter - |  |  |  |  |  |  |  |
Revenue |  | $ | 284,701 |  |  | $ | 284,713 |
Gross Profit |  |  | 56,582 |  |  |  | 61,377 |
Loss Before Income Taxes |  |  | (171,597 | ) |  |  | 48,725 |
Net Loss |  |  | (127,797 | ) |  |  | 37,008 |
Diluted Loss Per Share |  | $ | (2.82 | ) |  | $ | 0.76 |
The fourth quarter of fiscal 2019 included a pre-tax impairment loss of approximately $220.3 million related to the Oil and Gas Proppants segment. See Footnote (A) for more information. The fourth quarter of fiscal 2018 included a $6.0 million pre-tax expense related to the Homebuilder Settlement Agreement and $4.0 million of personnel-related expenses, including an increased contribution to the profit sharing plan and a pension settlement expense.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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