ION Geophysical (NYSE: IO) reported earnings on Aug. 7. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended June 30 (Q2), ION Geophysical whiffed on revenues and beat expectations on earnings per share.

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

Margins expanded across the board.

Revenue details
ION Geophysical reported revenue of $105.2 million. The two analysts polled by S&P Capital IQ expected a top line of $120.3 million on the same basis. GAAP reported sales were 19% higher than the prior-year quarter's $88.5 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 $0.08. The three earnings estimates compiled by S&P Capital IQ forecast $0.07 per share. GAAP EPS of $0.08 for Q2 were 300% higher than the prior-year quarter's $0.02 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 43.7%, 570 basis points better than the prior-year quarter. Operating margin was 12.3%, 240 basis points better than the prior-year quarter. Net margin was 11.8%, 850 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $164.0 million. On the bottom line, the average EPS estimate is $0.14.

Next year's average estimate for revenue is $584.5 million. The average EPS estimate is $0.47.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 738 members out of 777 rating the stock outperform, and 39 members rating it underperform. Among 167 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 157 give ION Geophysical a green thumbs-up, and 10 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on ION Geophysical is outperform, with an average price target of $12.50.