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ACQUISITION (Tables)
3 Months Ended
Jun. 30, 2013
Business Combinations [Abstract]  
Components of Purchase Price Allocation

Based on our estimate of the fair value of tangible and intangible assets acquired and liabilities assumed the purchase price is allocated as follows:

 

Purchase price allocation at acquisition date (in thousands)

   As of
November 30, 2012
 

Cash and cash equivalents

   $ —     

Accounts Receivable

     23,432   

Inventories

     20,361   

Prepaid and Other Assets

     3,511   

Property and Equipment

     407,260   

Intangible Assets

     12,500   

Accounts Payable

     (9,070

Accrued Liabilities

     (3,501

Other Long-term Liabilities

     (1,060
  

 

 

 

Total Net Assets

     453,433   

Goodwill

     —     
  

 

 

 

Total Purchase Price

   $ 453,433   
  

 

 

 
Summary of Fair Value Estimates of Identifiable Intangible Assets and Weighted-Average Useful Lives

The following table is a summary of the fair value estimates of the identifiable intangible assets (in thousands) and their weighted-average useful lives:

 

     Weighted
Average Life
   Fair Value  

Customer Relationships

   15    $ 4,760   

Sales Contracts

   4      2,500   

Permits

   40      5,240   
     

 

 

 

Total Intangible Assets

      $ 12,500   
     

 

 

 
Net Sales and Operating Income of Acquired Assets
The following table presents the net sales and operating income of the Acquired Assets that have been included in our consolidated statement of earnings from April 1, 2013 through June 30, 2013:

 

     Three Month Period
Ended June 30, 2013
 
     (dollars in thousands)  

Net Sales

   $ 41,078   

Operating Income

   $ 6,425   
Unaudited Pro Forma Results
     Three Month Period
Ended June 30, 2012
 
     (dollars in thousands)  

Revenues

   $ 208,459   

Net Income

   $ 7,786   

Earnings per share – basis

   $ 0.16   

Earnings per share - diluted

   $ 0.16   

Weighted Average Shares Outstanding:

  

Basic

     48,120,359   

Diluted

     48,528,734