Flotek Industries (NYSE: FTK) reported earnings on May 9. Here are the numbers you need to know.

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

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

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

Revenue details
 Flotek Industries chalked up revenue of $79.2 million. The four analysts polled by S&P Capital IQ hoped for revenue of $75.6 million on the same basis. GAAP reported sales were 50% higher than the prior-year quarter's $52.9 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 $0.07. The four earnings estimates compiled by S&P Capital IQ predicted $0.18 per share. GAAP EPS of $0.07 for Q1 were 46% lower 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 42.2%, 220 basis points better than the prior-year quarter. Operating margin was 21.1%, 360 basis points better than the prior-year quarter. Net margin was 4.6%, 1,500 basis points worse than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $77.2 million. On the bottom line, the average EPS estimate is $0.19.

Next year's average estimate for revenue is $331.2 million. The average EPS estimate is $0.87.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 762 members out of 796 rating the stock outperform, and 34 members rating it underperform. Among 167 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 156 give Flotek Industries a green thumbs-up, and 11 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Flotek Industries is buy, with an average price target of $16.33.

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