RigNet (Nasdaq: RNET) reported earnings on Aug. 6. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended June 30 (Q2), RigNet beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share grew significantly.

Gross margins dropped, operating margins shrank, net margins expanded.

Revenue details
 RigNet chalked up revenue of $33.2 million. The two analysts polled by S&P Capital IQ hoped for a top line of $31.9 million on the same basis. GAAP reported sales were 27% higher than the prior-year quarter's $26.2 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.21. The three earnings estimates compiled by S&P Capital IQ forecast $0.20 per share. GAAP EPS of $0.17 for Q2 were 31% higher than the prior-year quarter's $0.13 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 54.4%, 210 basis points worse than the prior-year quarter. Operating margin was 14.1%, 260 basis points worse than the prior-year quarter. Net margin was 8.6%, 50 basis points better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $34.2 million. On the bottom line, the average EPS estimate is $0.21.

Next year's average estimate for revenue is $133.8 million. The average EPS estimate is $0.77.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on RigNet is buy, with an average price target of $20.67.

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