QUARTERLY RESULTS (UNAUDITED)

12 Months Ended

Mar. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

(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.