Diana Shipping (NYSE: DSX) reported earnings on May 3. Here are the numbers you need to know.

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

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

Margins dropped across the board.

Revenue details
 Diana Shipping reported revenue of $58.2 million. The six analysts polled by S&P Capital IQ expected to see a top line of $54.3 million on the same basis. GAAP reported sales were 16% lower than the prior-year quarter's $69.6 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 $0.25. The one earnings estimate compiled by S&P Capital IQ averaged $0.25 per share. GAAP EPS of $0.25 for Q1 were 39% lower than the prior-year quarter's $0.41 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 71.1%, 690 basis points worse than the prior-year quarter. Operating margin was 35.5%, 1,370 basis points worse than the prior-year quarter. Net margin was 34.3%, 1,330 basis points worse than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $54.9 million. On the bottom line, the average EPS estimate is $0.19.

Next year's average estimate for revenue is $216.7 million. The average EPS estimate is $0.73.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 2,461 members out of 2,528 rating the stock outperform, and 67 members rating it underperform. Among 431 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 418 give Diana Shipping a green thumbs-up, and 13 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Diana Shipping is hold, with an average price target of $9.75.

Over the decades, small-cap stocks, like Diana Shipping have provided market-beating returns, provided they're value priced and have solid businesses. Read about a pair of companies with a lock on their markets in "Too Small to Fail: Two Small Caps the Government Won't Let Go Broke." Click here for instant access to this free report.