Procera Networks (Nasdaq: PKT) reported earnings on Feb. 21. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Procera Networks crushed expectations on revenues and beat expectations on earnings per share.

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

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

Revenue details
Procera Networks booked revenue of $15.6 million. The three analysts polled by S&P Capital IQ wanted to see net sales of $11.1 million on the same basis. GAAP reported sales were much higher than the prior-year quarter's $7.5 million.

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

EPS details
Non-GAAP EPS came in at $0.15. The four earnings estimates compiled by S&P Capital IQ predicted $0.04 per share on the same basis. GAAP EPS of $0.12 for Q4 were 500% higher than the prior-year quarter's $0.02 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 55.6%, 250 basis points worse than the prior-year quarter. Operating margin was 11.4%, 850 basis points better than the prior-year quarter. Net margin was 11.3%, 890 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $9.4 million. On the bottom line, the average EPS estimate is $0.00.

Next year's average estimate for revenue is $52.4 million. The average EPS estimate is $0.29.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 81 members rating the stock outperform and four members rating it underperform. Among 12 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), nine give Procera Networks a green thumbs-up, and three give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Procera Networks is buy, with an average price target of $17.67.

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