Volcano (Nasdaq: VOLC) reported earnings on May 2. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Volcano met expectations on revenues and 0 on earnings per share.

Compared to the prior-year quarter, revenue grew and GAAP earnings per share contracted to zero.

Gross margins expanded, operating margins shrank, net margins shrank.

Revenue details
Volcano booked revenue of $90.4 million. The 14 analysts polled by S&P Capital IQ expected a top line of $91.0 million on the same basis. GAAP reported sales were 12% higher than the prior-year quarter's $81.0 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 $0.00. The 12 earnings estimates compiled by S&P Capital IQ anticipated $0.01 per share. GAAP EPS dropped to zero from the prior-year quarter's $0.02.

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 67.3%, 170 basis points better than the prior-year quarter. Operating margin was 2.1%, 250 basis points worse than the prior-year quarter. Net margin was 0.3%, 110 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $96.6 million. On the bottom line, the average EPS estimate is $0.04.

Next year's average estimate for revenue is $394.6 million. The average EPS estimate is $0.22.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 168 members out of 193 rating the stock outperform, and 25 members rating it underperform. Among 55 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 50 give Volcano a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Volcano is outperform, with an average price target of $31.88.

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