DIAMOND MANAGEMENT & TECHNOLOGY CONSULTANTS, INC.
 
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
Fiscal Years ended March 31, 2008, 2009 and 2010
 
                         
    2008     2009     2010  
    (In thousands, except per share data)  
 
Revenue:
                       
Net revenue
  $ 182,288     $ 152,166     $ 177,245  
Reimbursable expenses
    22,768       22,812       32,699  
                         
Total revenue
    205,056       174,978       209,944  
Project personnel expenses:
                       
Project personnel costs before reimbursable expenses
    125,772       113,703       126,926  
Reimbursable expenses
    22,768       22,812       32,699  
Stock-based compensation acceleration — tender offer
          14,290        
                         
Total project personnel expenses
    148,540       150,805       159,625  
                         
Gross margin
    56,516       24,173       50,319  
                         
                         
Other operating expenses:
                       
Professional development and recruiting
    9,420       6,716       5,580  
Marketing and sales
    4,451       3,103       3,288  
Management and administrative support
    26,947       25,846       25,798  
Stock-based compensation acceleration — tender offer
          2,402        
Restructuring recovery
          (284 )      
                         
Total other operating expenses
    40,818       37,783       34,666  
                         
Income (loss) from operations
    15,698       (13,610 )     15,653  
                         
Interest income
    3,323       957       121  
Interest expense
    (93 )     (173 )     (71 )
Other income (expense), net
    180       (128 )     74  
                         
Total other income, net
    3,410       656       124  
Income (loss) from continuing operations before income taxes
    19,108       (12,954 )     15,777  
Income tax expense (benefit)
    8,873       (4,156 )     3,666  
                         
Income (loss) from continuing operations after income taxes
    10,235       (8,798 )     12,111  
Discontinued operations:
                       
Gain on disposal of discontinued operations, including income tax benefit of $0 for the fiscal years ended March 31, 2008, 2009 and 2010, respectively
    7,000              
Income from discontinued operations, including income tax benefit of
                       
$0, $575, and $0 for the fiscal years ended March 31, 2008, 2009 and 2010, respectively
    3,859       400       262  
                         
Income from discontinued operations, net of income taxes
    10,859       400       262  
Net income (loss)
    21,094       (8,398 )     12,373  
Foreign currency translation adjustments
    27       (1,869 )     214  
Unrealized loss on investment
    (4 )     (19 )     (1 )
                         
Comprehensive income (loss)
  $ 21,117     $ (10,286 )   $ 12,586  
                         
Basic income (loss) per share of Common Stock:
                       
Income (loss) from continuing operations
  $ 0.34     $ (0.34 )   $ 0.45  
Income from discontinued operations
    0.36       0.02       0.01  
                         
Net income (loss)
  $ 0.70     $ (0.32 )   $ 0.46  
                         
Diluted income (loss) per share of Common Stock:
                       
Income (loss) from continuing operations
  $ 0.33     $ (0.34 )   $ 0.44  
Income from discontinued operations
    0.34       0.02       0.01  
                         
Net income (loss)
  $ 0.67     $ (0.32 )   $ 0.45  
                         
Shares used in computing basic income (loss) per share of Common Stock
    30,200       26,209       27,139  
Shares used in computing diluted income (loss) per share of Common Stock
    31,492       26,209       27,632