Liz Claiborne (NYSE: LIZ) reported earnings on April 26. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Liz Claiborne beat expectations on revenues and missed expectations on earnings per share.

Compared with the prior-year quarter, revenue dropped significantly, and GAAP loss per share contracted.

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

Revenue details
Liz Claiborne logged revenue of $317.1 million. The four analysts polled by S&P Capital IQ foresaw revenue of $306.9 million on the same basis. GAAP reported sales were 38% lower than the prior-year quarter's $513.2 million.

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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 -$0.22. The four earnings estimates compiled by S&P Capital IQ averaged -$0.09 per share. GAAP EPS were -$0.60 for Q1 compared to -$1.02 per share for the prior-year quarter.

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 56.5%, 410 basis points better than the prior-year quarter. Operating margin was -10.4%, 150 basis points worse than the prior-year quarter. Net margin was -19.1%, 30 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $332.0 million. On the bottom line, the average EPS estimate is $0.01.

Next year's average estimate for revenue is $1.52 billion. The average EPS estimate is $0.21.

Investor sentiment
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 228 members out of 325 rating the stock outperform, and 97 members rating it underperform. Among 116 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 83 give Liz Claiborne a green thumbs-up, and 33 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Liz Claiborne is hold, with an average price target of $10.50.

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