Quarterly Financial Data

12 Months Ended

Mar. 31, 2014

25. Quarterly Financial Data

Quarterly results are influenced by the seasonal and other factors inherent in Niska Partners' business. The following table summarizes the quarterly financial data for the years ended March 31, 2014 and 2013:

	First Quarter (unaudited)			Second Quarter (unaudited)			Third Quarter (unaudited)			Fourth Quarter (unaudited)			Year ended March 31,

Fiscal 2014
Revenue, net	$	57,189		$	36,863		$	25,847		$	87,497		$	207,396
Earnings (loss) before income taxes	$	7,667		$	(7,797	)	$	(19,718	)	$	635		$	(19,213	)
Net earnings (loss) and comprehensive income (loss)	$	7,967		$	(7,845	)	$	(13,409	)	$	4,330		$	(8,957	)
Earnings (loss) per unit	$	0.23		$	(0.22	)	$	(0.37	)	$	0.12		$	(0.25	)
Fiscal 2013
Revenue, net	$	(2,787	)	$	24,545		$	73,831		$	45,106		$	140,695
Earnings (loss) before income taxes	$	(49,287	)	$	(22,115	)	$	9,877		$	(1,018	)	$	(62,543	)
Net earnings (loss) and comprehensive income (loss)	$	(37,346	)	$	(15,397	)	$	10,419		$	(1,277	)	$	(43,601	)
Earnings (loss) per unit	$	(0.54	)	$	(0.22	)	$	0.15		$	(0.02	)	$	(0.63	)

The Company recognized loss on extinguishment of debt of $36.7 million and wrote down proprietary inventories by $4.6 million in the fourth quarter of fiscal 2014. During the first quarter of fiscal 2013, the Company wrote down proprietary inventories by $22.3 million.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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