RigNet (Nasdaq: RNET) reported earnings on May 9. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), RigNet met expectations on revenue and missed estimates on earnings per share.

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

Margins increased across the board.

Revenue details
RigNet chalked up revenue of $31.2 million. The one analyst polled by S&P Capital IQ foresaw a top line of $30.9 million on the same basis. GAAP-reported sales were 28% higher than the prior-year quarter's $24.5 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 $0.14. The two earnings estimates compiled by S&P Capital IQ predicted $0.18 per share. GAAP EPS of $0.14 for Q1 were much higher than the prior-year quarter's $0 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 54.6%, 30 basis points better than the prior-year quarter. Operating margin was 15.7%, 320 basis points better than the prior-year quarter. Net margin was 7.7%, 780 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $31.6 million. On the bottom line, the average EPS estimate is $0.20.

Next year's average estimate for revenue is $128.5 million. The average EPS estimate is $0.83.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on RigNet is buy, with an average price target of $20.67.

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