Quarterly Results (unaudited)

12 Months Ended

Mar. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results (unaudited)

(M) Quarterly Results (unaudited)

	For the Years Ended March 31,
	2015		2014
	(dollars in thousands, except per share data)
First Quarter -
Revenues	$	266,251	$	227,044
Gross Profit		56,401		46,604
Earnings Before Income Taxes		55,786		44,516
Net Earnings		37,710		30,101
Diluted Earnings Per Share	$	0.75	$	0.60
Second Quarter -
Revenues	$	284,808	$	252,646
Gross Profit		75,061		59,479
Earnings Before Income Taxes		74,577		58,688
Net Earnings		50,319		39,903
Diluted Earnings Per Share	$	1.00	$	0.80
Third Quarter -
Revenues	$	291,529	$	228,812
Gross Profit		79,149		49,848
Earnings Before Income Taxes		77,866		48,833
Net Earnings		52,030		31,621
Diluted Earnings Per Share	$	1.03	$	0.63
Fourth Quarter -
Revenues	$	223,780	$	189,894
Gross Profit		43,522		29,528
Earnings Before Income Taxes		44,698		29,767
Net Earnings		46,794		22,618
Diluted Earnings Per Share	$	0.93	$	0.45

The fourth quarter of fiscal 2015 was favorably impacted by the settlement agreement with the IRS.  As a result of the settlement agreement, we recorded an income tax benefit of approximately $17 million, including state benefits.  The related interest of approximately $4.4 million was also recorded during the fourth quarter of fiscal 2015.  The fourth quarter of fiscal 2015 was adversely impacted by certain acquisition related expenses primarily due to diligence efforts at growing our construction products business and litigation costs related to the settlement of our lawsuit with the IRS.  The total impact of these expenses was approximately $4.1 million.

The fourth quarter of fiscal 2014 was adversely impacted by the annual maintenance outage of approximately $4.5 million at our Illinois cement plant. This outage has historically occurred in April or May of the fiscal year. The fourth quarter of fiscal 2014 was also adversely impacted by approximately $1.3 million in legal costs, $1.5 million in maintenance, and $0.9 million in increased natural gas costs for our gypsum wallboard business. The increase in maintenance costs was due to the timing of certain major maintenance projects, while the increase in natural gas was due to increased market prices.