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Consolidated Statements of Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Consolidated Statements of Income (Loss)        
Revenue $ 328,501 $ 305,520 $ 647,525 $ 605,551
Costs of revenue 238,584 216,346 473,319 432,827
Gross profit 89,917 89,174 174,206 172,724
Operating expenses:        
Selling, general and administrative expenses 70,682 75,155 141,543 144,781
Income from operations 19,235 14,019 32,663 27,943
Other income (expense):        
Interest income 551 589 1,224 1,353
Interest expense (4,835) (4,514) (9,743) (8,768)
Foreign currency transaction losses, net (3,437) (9,355) (2,235) (20,113)
Other, net 564 819 928 1,443
Total other expense (7,157) (12,461) (9,826) (26,085)
Income before income tax expense (benefit) 12,078 1,558 22,837 1,858
Income tax expense (benefit) 4,830 (402) 9,569 5,463
Net income (loss) 7,248 1,960 13,268 (3,605)
Less: net income attributable to noncontrolling interests, net of tax 146 455 332 1,186
Net income (loss) available to Virtusa stockholders 7,102 1,505 12,936 (4,791)
Less: Series A Convertible Preferred Stock dividends and accretion 1,088 1,088 2,175 2,175
Net income (loss) available to Virtusa common stockholders $ 6,014 $ 417 $ 10,761 $ (6,966)
Basic earnings (loss) per share available to Virtusa common stockholders (in dollars per share) $ 0.20 $ 0.01 $ 0.36 $ (0.23)
Diluted earnings (loss) per share available to Virtusa common stockholders (in dollars per share) $ 0.20 $ 0.01 $ 0.35 $ (0.23)