LSI (NYSE: LSI) reported earnings on April 25. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended April 1 (Q1), LSI beat expectations on revenue and beat expectations on earnings per share.

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

Margins increased across the board.

Revenue details
LSI booked revenue of $622.4 million. The 13 analysts polled by S&P Capital IQ looked for a top line of $599.8 million on the same basis. GAAP reported sales were 32% higher than the prior-year quarter's $473.3 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 $0.20. The 13 earnings estimates compiled by S&P Capital IQ averaged $0.14 per share on the same basis. GAAP EPS of $0.13 for Q1 were much 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 49.5%, 210 basis points better than the prior-year quarter. Operating margin was 4.3%, 150 basis points better than the prior-year quarter. Net margin was 12.1%, 1,000 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $619.6 million. On the bottom line, the average EPS estimate is $0.16.

Next year's average estimate for revenue is $2.54 billion. The average EPS estimate is $0.68.

Investor sentiment
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on LSI is outperform, with an average price target of $11.21.

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